Creator economy ‘vital part’ of media mix; TikTok hits a $10B milestone

Plus: Retail tips for 2024 [Insider Intelligence]( [Emarketer Daily]([Emarketer Daily]( Charts. News. Analysis DECEMBER 12, 2023 | By Sara Lebow, Arielle Feger, and Becky Schilling Rolling Stone ranked the 21 best [memes of 2023](, and the list is sound. Ranking among the top are girl dinner and dupes, as well as a few you may not have heard of, like Skibidi Toilet. At least five memes on the list can be tied back to viral marketing campaigns, showing just how powerful a good meme can be. Was this email forwarded to you? Sign up [here](. TOP STORY [‘Creator content is now a vital part of the mix,’ IAB says. Here’s what that means for brands]( Creator content isn’t an experimental area for advertisers anymore. It’s an established, full-funnel channel that can deliver measurable results. Why is the channel so important right now? Advertisers take creators seriously. Some 44% of advertisers plan to increase investment in creator content in 2024, with an average increase of 25%, according to the Interactive Advertising Bureau’s (IAB’s) recent [Creator Economy Opportunity: Where Authenticity Meets Impact]( report. More than 90% of advertisers consider creator content a high-quality ad channel. We project 82.7% of US marketers will use influencer marketing (which overlaps with creator marketing) next year. “[The creator economy](, valued at $250 billion this year by Goldman Sachs, is expected to nearly double to $480 billion by 2027. Savvy marketers know that they need to reach their customers in content that resonates with them,” said David Cohen, CEO of the IAB, in a statement. “There is no doubt—creator content is now a vital part of the mix.” [Keep reading]( NEWS AND VIEWS [TikTok becomes first non-game app to reach $10B in consumer spending]( Our view: That figure doesn’t include retail spending; it refers to in-app purchases of “coins” used to pay creators. TikTok has become its own creator economy, with myriad ways for users to make (and spend) money. [Teens are more online than ever, but platform preferences differ, report finds]( Our view: Teens use TikTok, YouTube, and even Snapchat more than Instagram, according to the report. And Facebook is only used by a third of teens. That could spell bad news for Meta as the teens get older. [Federal jury says Google’s app store violated antitrust law]( Our view: The results of this trial could present a reshuffling of power as third-party app stores pose a threat to the ad businesses on the app stores owned by Google and Apple. ANALYSIS [Retail tips for 2024: Focus on value, in-store experience]( Consumers will continue to hunt for deals into the new year, so retailers should continue to offer shoppers more value, whether through price, quality, or convenience. In addition, a back-to-basics approach to the in-store experience can remind consumers why they enjoy in-store shopping. In-store retail media can be used to promote discovery, but retailers should be cautious about overwhelming shoppers. “[Going to the store] is an experience in itself,” said Ethan Chernofsky, senior vice president of marketing at Placer.ai. “Think about Ulta. Being there, trying something on, talking to the experts, [it’s all] part of visiting and part of the value that the [in-store] experience brings.” [Keep reading]( THINGS TO KNOWS 🤖 [ANA marketing word of the year: AI (again)]( 🔎 [GA4 ramps up Protected Audiences API rollout and adds enhanced conversions]( ✅ [Meta Verified expands to businesses]( 🎾 [Netflix to serve up live tennis, featuring Nadal and Alcaraz]( 💼 [US advertising and agency hiring soars amid forecasts calling for 2024 spending growth]( PODCAST [Behind the Numbers: The Daily]( Very specific 2024 predictions (part 2)—Which car company Amazon could buy, AI controversies, and a privacy lawsuit. Tune in on [Apple Podcasts](, [Spotify](, [YouTube](, or wherever you listen to podcasts. [Follow us on Instagram.](Behind the Numbers is made possible by Affinity Solutions. [Listen in]( THE BIG QUESTION Young at heart: What is the top platform among US teens ages 13 to 17? A) YouTube B) TikTok C) Snapchat D) Instagram [Get the answer]( Email sent to: {EMAIL} If you cannot view the HTML newsletter, [please read it in your browser here](. [Become a Premium Subscriber]( | [Advertise with us]( [Manage your email preferences]( | [Unsubscribe]( | [Terms of Use]( | [Privacy Policy]( ©2023 Insider Intelligence, One Liberty Plaza 9th Floor, New York, NY 10006 [LiveIntent Logo]( [AdChoices Logo](