This
blog post is going to be a bit strange. It had its origins as a response to a
response to a I asked question, but then I thought it started getting long and
convoluted so instead I decided to try something a little longer format.
I
am a patron of a new podcast called The Mixed Six. The
premise is really straightforward, two friends (and their producer) sit down to
have a conversation on six different topics with six beers. What makes it
special is that the hosts, in my opinion, are a wonderfully intelligent, sharp,
funny, critical, and nerdy. I believe in one episode they switched from
discussing comic book properties to a Marxist critique of gift cards. As a
patron I can submit questions so I asked them if they thought the nerd economy
was a bubble. I will do my best to summarize my question and their answers, but
you can feel free to listen yourself at 52:15. If you choose to listen you can skip the next four paragraphs.
My
question I posed was this (roughly), are we in the midst of a nerd economy
bubble? All over the internet there are people trying to make money on YouTube,
Twitch, Kickstarter, Patreon, etc. and I question the ability of the market to
sustain them. There is also the aspect that young naive creators rush headlong
into an industry that ruthlessly exploits them for little in return.
Caleb
Stokes admitted that he has feared there is a bubble. Producer Ross Payton made
the point that this not a nerd specific phenomenon, ex. make-up tutorials and compared
it to the shift from radio to TV, or sheet music to radio. How we consume
media. He admitted that there is a lot of exploitation. However, he didn't
believe it was a bubble, but a seismic shift. Patreon is a tool that empowers
the creators (somewhat).
Caleb
argued that if there was a bubble that popped it would be on the supply side.
Most people who do these projects do them as a side project. A crash would hurt
the platforms. While there are huge earners most people are scrapping by for a
little extra money. If it goes away it will be because of how platforms treat
their users/creators. Quality control is an issue.
Spencer
added it does feel like a bubble because there is so much content for people
even willing to pay a small amount. However, there is a quality question and a
lot of what's out there is bad, so quality and content is the measure. Caleb
said that the only other crash he can foresee is that if these things start
supporting people's lives as a career and then they begin chasing the money,
perhaps from dubious sources. But, the thing with a bubble... no one can see
it.
Now
my response to their response. Yes, I realize already that this is ridiculous.
First,
Ross is absolutely right. It's not a nerd economy, though I think traditional
nerdy areas are a significant portion of it. Consider that Twitch is a huge
component of this new economy and almost exclusively, until recently, catered
to video game streamers. Comedy channels, beauty channels, news, music, and
other entertainment are a significant portion of the market out there.
Two
things, I think, prompted me to ask this question. The first is the number of
people/groups that have held out a tin cup and asked for me to chip in. At
first it was semi-professional outfits so I could appreciate them seeking some
financial compensation. However, a growing number of amateurs beginning with a
Patreon page was a tad galling to me. Perhaps that is because I was introduced
to it as a tool for fans to supplement income and not as a third-party
subscription service. There does seem to be a growing number that feel this can be their meal ticket, and that concerns me from a rational and pragmatic point of view. Caleb is right, if you want a little spending money, great, but this isn't grounds for a career.
Decades
past young people would dream of becoming actors or athletes. Now they want to
be "YouTube famous." A surprising number of my students have their
own YouTube channels. They talk to me about building their audiences and their
subscriber counts. As most of us know various platforms offer only a pittance
for advertising. I am also concerned about the pressures they might feel to
gain eyeballs and the wisdom of the decisions chasing those metrics. In short,
I worry about exploitation. Platforms like Twitch, YouTube, and Instagram make
incredible profits off of naive, young creators. The low barrier to entry is
both a blessing and a curse. We have so much content, but it does look like
"anyone can do it" which ignores the economic and personal costs in
chasing these dreams. Sometimes it feels like creators are chasing the lowest common denominator in order to gain any kind of attention, which hardly seems healthy.
Another
aspect of this that I wonder about is the exploitation of a small amount of
productive people by 'critics.' Whenever a television series becomes even
modestly popular it spawns a bevy of podcasts, video casts and reviews. It
starts to feel like an entirely false economy based on the machine of whatever
movie sequel Disney pumps out. How many review channels/podcasts can the market
sustain?
I
grew up, like most of us, in a free media environment. Television, radio,
newspapers, and the internet was largely free on the basis that advertising
would pay for the content. The audience wasn't the customer, it was the
product. Trends seems to indicate that the audience will have to pay for
anything resembling quality content with subscriptions. This is a seismic
mental shift for many people; it certainly is for me. I feel vaguely guilty
about the media that I enjoy that I don't support (ex. Canadaland). Still, if I
donated to the 30+ podcasts I listen to and the dozen or so YouTube channels I
watch on a semi-regular basis, plus Netflix, and on and on, we are talking
about a pretty expensive media diet. As I'm economically limited it would mean
a big change to my habits.
I
wish that I could easily accept the position that this is a beautiful time. A
thousand flowers bloom and creators can receive financial support for their
work. It's a grand meritocracy! Except it isn't. A handful of giant
corporations (Apple, Google, Facebook, Amazon) control a huge stake in this
developing industry. A few start ups and independents have significant sway,
but if you look at the top YouTube channels that are increasingly dominated by
corporate media. I've thought about starting my own YouTube channel, or podcast
to reflect my interests, and I have been on podcasts in the past, so I
understand the impulse to participate in this low risk, low cost field.
Creators should be paid for their efforts, but I'm uncertain of our current
arrangement. So the question is whether or not this is a permanent change or a
bubble. I'm not sure I know which side I want to win out.