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NCAA Athletes start printing the NIL (Name Image Likeness) Dollars! 💵💰💵🤑
Part One is all about What We Know in our two-part trend report.
WELCOME to $5.vc, your source of differentiated startup intel!
* We break down the new market indicators & behavioral consumer trends we're tracking, then figure out the unlock to growth & revenue.
ICYMI in the last 10 weeks we covered:
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* NCAA + TikTok + Cameo + NIL Rights 🔥
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ TikTokers wanna get paid! ]
TikTok Adds New 'Shoutouts' Option To Enable Users To Pay For Personalized Video Messages From Stars
- thanks andrew! https://twitter.com/adhutchinson
As competition rises for top creators, TikTok is working hard to provide more revenue-generation options, in order to keep its top stars from drifting off to other, more lucrative opportunities.
Along this line, TikTok has this week added a new Cameo-like option called 'Shoutouts' in the app, which enables fans to pay to have platform stars send them a personalized video message.
With 'Shoutouts', users are able to pay, to have their favorite creator send them a personalized message. The creator then has three days to either accept an assigned Shoutout or decline, then a further week to create the clip, which is finally sent to the users' inbox.
>> [ TikTok wants in on those Cameo dollars! ]
- thanks lauren! https://twitter.com/laurenstrapa
Alessandro Bogliari, CEO of The Influencer Marketing Factory, told BuzzFeed News the feature is a "win-win-win" for the platform.
"Influencers make more money, TikTok opens up a new revenue stream, followers are happy to have a custom video that can be requested, paid and saved inside TikTok," he said.
He also said he could see Shoutouts stealing some of the market share from Cameo. Created in 2016, Cameo lets people request personalized videos from big-name celebrities, including several thousand social media influencers. Shoutouts streamlines that by keeping it on the same app.
Cameo videos can range up to hundreds of dollars, and Bogliari said TikTok stars should take a cue from that and could aim from $35 to $500 for a Shoutout.
>> [ NCAA athletes just got their biggest break! ]
- thanks dan! https://twitter.com/DanMurphyESPN
College sports is in the midst of its most significant changes in a generation. A mixture of new state laws and NCAA rules changes that went into effect on July 1 have provided athletes with varying degrees of new protections and opportunities to make money by selling their name, image and likeness (NIL) rights.
Social media stars and big-name quarterbacks were among the first to cash in on their new ability to sign endorsement deals. Some athletes collected at least tens of thousands of dollars in the first days of July.
Other deals also highlighted that it doesn't take millions of followers on TikTok or a place on the Heisman watch list to find opportunities.
Athletes announced partnerships with local companies like a fireworks warehouse in Iowa and a barbecue joint in Arkansas that sponsored the team's entire offensive line.
>> [ Boost Mobile signs the Cavinder twins! ]
- thanks dan! https://twitter.com/DanMurphyESPN
The twin sisters, who play for Fresno State's basketball team and entertain millions of followers on social media, flew to New York on Wednesday to sign their first major endorsement deal.
They are now spokeswomen for Boost Mobile with plans to promote the wireless telecommunications company in a variety of ways in the coming year. NCAA rules changes and state laws that went into effect July 1 opened the door for college athletes to sell the rights to their names, images and likenesses for the first time.
"It was really exciting that such a known company wanted to work with Hanna and me," Haley Cavinder said. "... This is a big switch for all student-athletes. Being able to use your name, image and likeness is something we all deserve, and I'm really thankful the NCAA is finally passing this."
>> [ want a bday shoutout from your favorite athlete?!! ]
- thanks garett! https://twitter.com/GarettSloane
TikTok is taking a cue from Cameo, the influencer-on-demand video app, and will let fans pay popular accounts for video Shoutouts, a feature that could become another channel for brands to connect with creators.
TikTok says this system could possibly be helpful to “get customized movies out of your favourite creators. Ask for a contented birthday want, a pep speak, or one other message.”
Shoutouts are simply a part of TikTok’s monetization program for creators. TikTok has a creator marketplace that helps its hottest customers generate offers with manufacturers and it pays them for his or her contributions to the app.
THE DOPE IDEA & THE BRAND EXECUTION:
* Taking the idea and amplifying that into tactical action.
See you next week for the second half of our two-part report.
We’ll discuss on how to position ourselves as a new player in the NCAA + TikTok + Cameo + NIL Rights space — and get into the development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.