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Patreon CEO Jack Conte

Social media creators are turning to monthly subscription services to generate revenue directly from their followers in an attempt to find a stable source of income in an increasingly competitive and volatile market. 

The creator economy peaked in September 2021, according to research published this month by the Bank of America Institute. While the average monthly income for content creators has increased over the past three years, a typical, full-time U.S. employee makes five times as much in monthly income on average. 

“This suggests that it’s rare to earn a full-time wage in content creation — let alone get rich,” said the research, which was also conducted by the Bank of America Institute, a think tank that conducts its research using Bank of America customer data. 

Analysts at the Bank of America Institute attribute this to a slowdown in paid partnerships, a more competitive market for creators, a decline in online viewership since the pandemic and a concentration of paid partnerships among the top creators. 

While internet virality is unpredictable, turning content creation into a full-time career requires meeting certain financial needs, like the ability to pay monthly bills, content creators told CNBC. As a result, creators are looking to diversify their revenue streams, and in addition to paid partnerships, many content creators are increasingly looking to monthly subscription platforms like Substack and Patreon for consistency in their monthly income. 

Substack and Patreon have emerged as attractive options because they enable creators to charge their followers directly for their content. Creators can offer their followers different tiers of subscriptions for monthly fees, with each tier including different perks. Since its launch in 2013, Patreon has paid creators over $8 billion, while Substack claims to host more than 4 million paid subscribers.

On TikTok and Meta’s Instagram, creators have to navigate algorithmic models that control when their content is shown, making income from those apps highly volatile. Earnings can fluctuate dramatically, spiking or plummeting based on how these platforms choose to promote their content.

“I can’t rely on that to be what pays my bills,” said Molly Burke, a creator with more than 4 million followers across her social apps. “As an entrepreneur, as a business owner, as a creator, I have to figure out how I’m going to sustain this as a career for as long as possible.” 

Molly Burke, a creator known for her videos about living with blindness and navigating daily life.

Social media platforms increasingly rely on algorithms to decide what content users see, based on their past interactions and preferences. These algorithms analyze user behavior to create personalized content feeds, which often prioritize posts that are likely to generate engagement, such as likes or shares.

As a result, many creators feel pressured to make content that caters to the algorithm, even if they believe it lowers the quality of their work, content creators said.

“It ebbs and flows,” Burke said. “Sometimes my TikToks are popping and I’m getting all the views, and then that algorithm just dips for a bit.” 

While nearly half of creators work full time, most rely heavily on brand deals for income, with more than two-thirds having brand partnerships as their primary revenue source, according to a separate study by influencer marketing agency NeoReach. The study found that more than 48% of creators earn $15,000 or less annually, even as the global influencer market reached $21 billion in 2023. There are more than 50 million content creators worldwide, Goldman Sachs said in April 2023

Burke, a creator known for her videos about living with blindness and navigating daily life, has been producing content on the internet for five years. While it’s not her biggest income stream, she uses her Patreon revenue to help cover essential expenses, including rent.

“I feel extremely lucky and grateful that it is a revenue stream that I can rely on, that I know at the bare minimum I can get my rent covered this month,” she said.

Subscription platforms like Patreon address this by allowing creators to bypass the algorithm entirely, connecting directly with their most loyal fans who are willing to pay for exclusive content.

“Membership alone is a huge business for creators,” Patreon founder and CEO Jack Conte said in an interview with CNBC. “It’s creating predictable, reliable, huge sources of revenue for creators at a degree in scale that we’ve never seen before.”

Zach Kornfeld and Keith Habersberger of the Try Guys

JD RENES

The Try Guys, a comedy group known for their challenge-based videos, have 8 million subscribers and 2.7 billion views on YouTube, but in May, they announced the launch of their own streaming service called 2nd Try. The group moved most of its new videos behind a $5-a-month paywall, where subscribers can watch the new content without ads.

In the three months since launching 2nd Try, the company said it is on track to reach profitability.

“We needed to build something that we could at least have some more consistency with,” Try Guys co-founder Keith Habersberger told CNBC.

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Meta announces experimental Aria Gen 2 research smart glasses

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Meta announces experimental Aria Gen 2 research smart glasses

At the Meta Connect developer conference, Mark Zuckerberg, head of the Facebook group Meta, shows the prototype of computer glasses that can display digital objects in transparent lenses.

Andrej Sokolow | Picture Alliance | Getty Images

Meta on Thursday revealed the latest version of its experimental smart glasses intended to help bolster research into artificial intelligence, robotics and machine perception.

The Aria Gen 2 glasses, as they’re called, are designed for researchers to use as tools to assist with their studies into robotic systems, advanced sensors and other technologies, Meta said in a blog post. For instance, the startup Envision is using the new glasses to help it create services for the visually and hearing impaired, according to the blog.

The new glasses are an improvement from the Aria Gen 1 glasses, which Meta announced in 2020. The Aria Gen 2 represent the latest step by Meta in its efforts to build out smart glasses into the next major computing platform after the smartphone. The company also sells the $300 Ray-Ban Meta glasses, which have an AI voice assistant and can be used to take photos and videos, and in September, the company unveiled its cutting-edge Orion glasses prototype that feature full augmented-reality capabilities. 

Among the Aria Gen 2 glasses’ improvements over its predecessor are upgraded sensors including one that measures heart rates, the ability to perform more complicated calculations on the device itself with Meta’s custom computer chips and “all-day usability,” the blog said. 

“Making them available to academic and commercial research labs through Project Aria will further advance open research and public understanding of a key set of technologies that we believe will help shape the future of computing and AI,” the company wrote. 

Meta did not reveal when the device will be more widely available to researchers, but said that there is an option for them to sign-up for updates.

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Katy Perry, Lauren Sanchez and Gayle King will crew Jeff Bezos’ next Blue Origin spaceflight

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Katy Perry, Lauren Sanchez and Gayle King will crew Jeff Bezos' next Blue Origin spaceflight

Katy Perry performs during the opening ceremony of the 2025 Invictus Games at BC Place on February 08, 2025 in Vancouver, British Columbia. 

Samir Hussein | Wireimage | Getty Images

Singer Katy Perry and CBS’ Gayle King will join Jeff Bezos‘ fiancee Lauren Sanchez on his rocket company Blue Origin’s next crewed mission.

The company on Thursday announced the next six-person crew of its New Shepard rocket, which also includes aerospace engineer Aisha Bowe, film producer Kerianne Flynn and Amanda Nguyen, a bioastronautics research scientist and civil rights activist. The launch is planned for this spring.

The mission will be the 11th human flight for Blue Origin’s New Shepard program. A trip on the New Shepard rocket lasts about 10 minutes. The reusable rocket carries people on a ride past the edge of space, with the spacecraft and crew floating in microgravity for a couple of minutes before returning to Earth.

Blue Origin previously sent up Bezos, its billionaire founder who also founded Amazon and owns the Washington Post, and Canadian actor William Shatner on other crewed missions. To date, New Shepard has flown 52 people into space, according to the company.

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Standard Chartered still sees bitcoin hitting $500,000 despite recent selloff

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Standard Chartered still sees bitcoin hitting 0,000 despite recent selloff

Jakub Porzycki | Nurphoto | Getty Images

Standard Chartered’s bullish crypto analyst still sees bitcoin’s price hitting $500,000 during Donald Trump’s presidency — even after a selloff that sank the world’s largest digital currency to a three-month low.

Geoffrey Kendrick, who heads up digital assets research at Standard Chartered, told CNBC he believes bitcoin will hit the $200,000 mark this year before climbing even further in the coming years.

“Within the crypto ecosystem, what we need are traditional financial players, like Standard Chartered, like BlackRock and others that have the ETFs now to really step in,” Kendrick said in an interview with CNBC’s “Squawk Box Europe” Thursday.

“As the industry becomes more institutionalized, it should be safer,” Kendrick said, adding that this should result in fewer negative headlines — such as the recent $1.5 billion hack on cryptocurrency exchange Bybit last week.

This increase in crypto adoption by institutions, coupled with some “regulatory clarity” in the U.S., should lead to less volatility over time, he added.

Bitcoin to hit $500,000 before Trump leaves office, Standard Chartered says

“That should add to that medium term, top-side potential, which for me is bitcoin up to $200,000 this year, and $500,000 before Trump leaves office,” Kendrick told CNBC.

Kendrick said the catalyst necessary for large financial institutions to gain confidence to invest in bitcoin and other crypto assets is a stabilization in prices and increased regulatory clarity.

Bitcoin earlier this week sank to a three-month low below $90,000 amid declines in global equity markets. As of Thursday, the token was trading at $86,418. That means it’s down about 20% from an all-time high of $108,786, which the coin peaked at in January, according to CoinGecko data.

Standard Chartered’s Kendrick said digital currencies have dropped more broadly due to uncertainty around tariffs and resolutions to major wars such as Russia-Ukraine and Israel-Gaza.

“Risk assets don’t like uncertainty, and so that’s what we’ve seen. We’ve seen tech stocks in the U.S. coming lower,” Kendrick said, adding that the breach of Bybit has also contributed to negative sentiment surrounding crypto more broadly.

He expects the outlook for crypto will improve later in the year as traders await key regulatory developments in the industry, such as new rules around stablecoins and anti-money laundering.

“That should further legitimize, so you’ll see more U.S. banks involved. You’ll see larger institutions in the U.S. continue to push through,” Kendrick said.

Kendrick was one of the numerous market analysts who predicted a doubling in bitcoin’s price this year to $200,000. Bitcoin broke the highly anticipated $100,000 mark in December following Trump’s election to the U.S. presidency.

Crypto bulls view Trump positively given his support for digital currencies. In January, Trump signed an executive order promoting the advancement of cryptocurrencies in the U.S. and developing a national digital asset stockpile.

Crypto investors, companies and executives accounted for almost half of corporate donations in the 2024 election cycle, with some contributing tens of millions of dollars to Trump’s campaign.

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