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From the potential TikTok ban to major platform shifts, 2020 proved monumental in social media history, yet 2021 is shaping up to be even more eventful.
We previously wrote about Clash when they first released their app and opened the doors to the new way of creator monetization. Today, we’re talking about the new development of the Clash app – its purchase of Byte.
Announced this morning in the New York Times article, the Clash app acquisition “is a reunion for Vine, the beloved six-second-video app that announced its shutdown in 2016.” Creator of Byte, Dom Hofmann, was also one of the founders of Vine, the original short-form video app that skyrocketed some of our favorite creators to fame across social media platforms. Clash co-founder and CEO Brendon McNerney was a former Vine star. He speaks in the article on how the purpose of acquiring Byte is to expand the creator community and maximize the IP.
Clash published an article on Medium saying, “Byte has built a fantastic suite of creator tools that compliments our vision of better creator monetization. We cannot wait to bring these two together for a brighter future.”
The goal? To create the ultimate platform for creator monetization. The Clash app that comes out of this acquisition will be equipped with creator monetization tools unlike anything released on other social media platforms or paywall sites. Clash has closed an investment round led by Alexis Ohanian’s fund Seven Seven Six, with additional funding from M13 Ventures and Plug and Play. Creators and investors are realizing the potential of the Clash app and joining the quest.
A Little Backstory
Byte was released in January 2020 as an almost exact replica of Vine. Creators could upload short-form, looping videos to their accounts to be viewed by their followers. However, unlike Vine, things like the follower count were hidden to disempower the vanity metrics that take away from the creator experience and community building aspect. Byte also originally promised creator monetization features, an aspect that Vine was never able to implement.
Clash is founded by NeoReach co-founder, P.J. Leimgruber and former NeoReach creative director, Brendon McNerney. Clash App was released in August 2020 for creators and users to join, create, post, share and build community. While building their creator community, the company was developing monetization tools to allow fans to tip creators on videos and pay monthly subscription fees to support a creator’s content creation. McNerney explains it to NYTimes, “If a person is busking on the corner in Silver Lake, someone can walk by and drop a dollar in their guitar case. In this case, the video is the guitar case and someone can throw a dollar to that video.”
Rise of the Creator Economy
While other programs exist, like the TikTok Creator Program and YouTube Adsense, to help influencers monetize their content. None have successfully released a model that puts the creator first. The Clash app isn’t the only platform with monetization perks. Patreon was recently valued at $1.2 billion.
Learn all about influencer marketing on Patreon in this article.
Silicon Valley investors have recognized the creator economy and it’s potential with other creators and platforms popping up with funding and a mission to help creators make a living doing just that – creating. Social media influencers are relying on brand deals and advertising revenue to generate an income from their content. While that has worked in the past and grown an incredibly vast influencer marketing industry, it doesn’t prioritize the creator or guarantee financial success for individuals who craft amazing content but don’t match a brand deal.
Read all about the creator economy here!
What’s Ahead for the Clash App and Creator Community
The Clash Team announced in their Medium post that the community can anticipate many amazing changes from both Byte and Clash’s current platforms. Both apps will remain active in the recent weeks following the transition, however, the Clash App is no longer available to download from the App Store. Information will be released to the community as new developments are available to share. So download Byte and be the first to know!
For the creator community on both apps, Clash promises to keep them at the forefront of all actions. Remember, the app is built by creators and for creators to empower monetization and new experiences for their communities.
