Snapchat President plans to woo big brands

euronews (in English)

Ronan Harris, EMEA President of Snapchat, the Co-Founder of Influencer.com, Casper Lee and content creator Tue Nguyen explain how the $250 billion influencer economy is reshaping the future of business.

Transcript

00:00Hundreds of millions of people now describe themselves as content creators.

00:06The rules of the game have changed, and businesses are rewriting their marketing playbooks to

00:12keep pace with the irrepressible influencer economy.

00:19Welcome to The Exchange from our studios here in Doha.

00:23Coming up on this episode, Snapchat's president of Europe, Middle East and Africa, Ronan Harris,

00:29reveals the secrets of Snap's success and why business users are at the heart of his

00:34future plans.

00:35Plus, we meet the YouTube megastar turned agency boss, Kasper Lee, to find out where

00:40the influencer economy might go next.

00:42Well, in recent years, the influencer economy has matured.

00:46According to finance group Goldman Sachs Research, it's a sector now worth at least $250 billion

00:53and predicted to almost double, reaching $480 billion by 2027.

00:59According to research by Influencer Marketing Hub, a firm that specializes in data across

01:04the social media and influencer industry, a staggering 200 million people now identify

01:10as content creators, with about a third of this number intending to pursue it as a full-time

01:16profession.

01:17And while celebrity deals make the biggest headlines, influencers with fewer followers

01:22are critical to the future success of the industry.

01:25According to research conducted by Harvard Business Review, content creators with 50,000

01:31followers or less account for a remarkable 76% of all TikTok creators and up to 96% on

01:38Instagram.

01:40So how easy is it to survive and thrive as a content creator?

01:44Well, our reporter Pierrick Laurent in Los Angeles met one business owner with her own

01:50recipe for influencer success.

01:54Hi, Guy.

01:55Los Angeles is the ultimate destination for influencers.

01:58This is where the wildest dreams come true.

02:00And today I'm going to meet with someone whose success went beyond what she even imagined.

02:07Hi.

02:08Thuy Nguyen is only 26, but the Vietnam native who moved to the US when she was a child has

02:13a million followers on TikTok and Instagram combined.

02:17She gained visibility during the pandemic from posting this cooking video of her favorite

02:22Vietnamese recipe.

02:23There was so much interaction and I was like, oh, people are really liking this.

02:28And then I think it was the first like six hours, it got like over 3 million views.

02:34By signing with an agent, she quickly monetized her increasing fame on social media.

02:39Most of my money comes from brand deals.

02:43That's where the usage rights come in play.

02:45And that's where they use your content for advertisement.

02:50After hosting a series of pop-up restaurants, she partnered in 2023 with a lifestyle company

02:56to open her own place in West Hollywood.

02:58Didi features her best recipes and has already served 40,000 customers.

03:04But Thuy says the competition is fierce.

03:07I feel like this happens to a lot of restaurants, whether it started on social media or not.

03:12The honeymoon phase died down after the opening because they're like, oh, yeah, we've already

03:17been there.

03:18And so in order to keep people coming back, we constantly change up our menu.

03:23We have events.

03:24And Thuy isn't done yet.

03:27She's on track to publish her first cookbook in September.

03:33The talented Thuy Huynh there sharing the key ingredients needed to achieve success.

03:40She's got messaging super app Snapchat has over 400 million daily users.

03:45Ronan Harris is the company's president of Europe, Middle East and Africa.

03:49I asked Ronan why so many people are attracted to Snapchat and what future direction the

03:54firm is taking.

03:58Influencers come to Snapchat first and foremost because they find an audience that they can

04:01connect with.

04:02It's the fun, creative lenses that allows them to have a little bit of a kind of a fun

04:07moment with their with their closest relationships.

04:10So augmented reality is something that Snapchat really has a leading position in, both in

04:17terms of our technology, but also in terms of the usage stats.

04:21But it's also playing a very important role for brands and businesses.

04:25So sponsored augmented reality lenses are something that's giving people a very different

04:30sort of ad format.

04:31It's giving people an opportunity to create an experience online that their potential

04:38consumers and fans can really wrap themselves in.

04:43So big platforms like Snapchat are evolving, but so are some of social media's most famous

04:48faces.

04:50YouTube superstar Caspar Lee launched his comedy and interview channel back in 2011

04:55and became one of the most popular YouTubers in the world.

04:58Many years and millions of followers later, Caspar's career has evolved to support other

05:03creators and the big brands they represent.

05:06Well, I caught up with Caspar here in Doha and asked him why he made this transition

05:11and his thoughts on why social media apps are so popular.

05:16So about seven years into my career as a YouTuber or creator, I met a guy called Ben Jeffries

05:22and he had this idea about connecting brands and creators at scale.

05:27And so we co-founded Influencer.com together.

05:30And at the time, the brand deal world was really kind of a wild west.

05:35And so what we wanted to do is professionalize that with really incredible people, but also

05:39great technology.

05:41And we've managed to do that.

05:42We've worked on thousands of campaigns with tens of thousands of creators and some of

05:49the world's leading brands and we work across the globe.

05:52So when it comes to posting, I don't think there's a one size fits all.

05:57You're going to see creators being able to scale their productions without having to

06:00hire massive teams because things like editing, remixing, just making content in general,

06:06even special effects, these sorts of things have become a lot easier.

06:10Ultimately, people want to follow real people and listen to real stories.

06:15Now it's time for our regular feature, Business in 60 Seconds.

06:18Start the clock.

06:19Bang and Ulusen get ready for their annual general meeting.

06:22The Danish firm famous for high end speakers has been busy developing a new smartphone

06:27app capable of delivering high resolution audio and immersive spatial sound formats

06:33to enhance the listening experience of its customers.

06:36Investors will be hoping that markets remain in tune with the firm's strategic shift from

06:41hardware to software.

06:43Popular fashion brand American Eagle Outfitters Incorporated prepares to share an earnings

06:48release for Q2 2024.

06:51The fashion group recently centralized the management of all American Eagle brands into

06:55one location.

06:57Aegean Airlines reports on their half year performance for 2024.

07:01Greece's leading domestic airline celebrated its 25th birthday earlier this year with a

07:06record increase in passenger numbers.

07:08The group's revenue and profits soared to record heights in 2023, continuing their financial

07:14success this year will mean navigating turbulent market conditions.

07:21So the influencer revolution is in full swing with billions of dollars being made every

07:26day by influencers and agencies alike.

07:30But with technology like AR and AI transforming digital platforms and influencers increasingly

07:36catching the eye of marketing directors and CEOs, it's clear that what boardrooms used

07:42to see as novelty is fast becoming the norm.

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