A few years ago there were reports of celebrities getting paid to post content on their social media platforms. With the large amount of followers that celebrities have it is no wonder brands saw an opportunity to market their products and services in a more organic way. However, recently we have seen everyday people become social media influencers.
Today, 60 Minutes reported on young social media stars who are making their living off of their amount of followers. One social media influencer in particular, Logan Paul, has over 5 billion video views. Another, Andrew Bachelor, is gaining 30-40 thousand new followers every day and currently has a total of 37 million followers.
These social media influencers are using platforms such as snapchat, vine and instagram to make money. The production costs of their posts, snaps, vines and videos are very minimal, but their checks are pretty large. In fact, “influencers with 7 million followers — just a quarter of Bachelors’s — can charge up to $300,000 for a YouTube video or more than $100,000 for an Instagram post“.
Social is paying so much that one young star, Andrew Bachelor, has already made enough money to be able to retire. Logan Paul has also made a good chunk of change for himself with a current net worth of 2 million dollars. One day, Logan made a series of comedic videos at Dunkin’ Donuts and made approx. 200,000 dollars in just 24 hours.
Of course our traditional celebrities are also benefiting from the sudden jolt in social media. Kim Kardashian, arguably the most famous woman in the world, said in a recent 60 Minutes interview that she attributes her career to social media. With Kim’s staggering 160 million followers on social media it is safe to say millions have been made through brand endorsements online. When interviewing with 60 Minutes Kim said, “It is a talent to have a brand that’s really successful off of getting people to like you for being you”.
By Carolyn Baldwin