LinkedIn Just Launched a $25 Million Creator Fund
What this means for content creators moving forward
Linkedin is still trying to figure out its place in the metaverse.
At first, they were the premier platform for the business-minded individual. It was a pedestal to brag about ROI numbers and short-sighted claims that the office is the best place to work.
Things have changed.
Users went from posting snoozefest inspirational content to short-form blog posts that help people, polls asking for honest opinions, and even selfies of workforce employees taking much-needed vacations.
Now, LinkedIn is following up on its promise to compete with the likes of Quora and Facebook to pay its content creators.
How is it going to play out, and where is this money going? Here’s what I found.
“Stories” were the beginning
Remember when stories were all the rage on Snapchat?
I loved the idea at first because it was original. Instead of sharing what I was doing with individuals, all my followers could get involved. Snapchat was ahead of the curve.
Naturally, other platforms caught on. Instagram said, uhh, okay, I think we need to do it too. It worked because Instagram is a media-forward platform. I just post where my audience is.
Then LinkedIn joined the party. LinkedIn creating a story feature was like Coors making a hard seltzer. Nobody asked for it, but they're going to do it anyway because it’s what’s trendy.
It didn’t work out well for LinkedIn. They scrapped the stories idea and went back to the drawing board post-haste. Apparently, they came up with a creator fund.
What is the LinkedIn creator fund?
The creator fund isn’t what you think it is. It’s not a free-for-all for creators of all shapes and sizes on LinkedIn to start making cash.
It’s a $25 million fund that is only rolling out $15,000 to 100 creators via its Creator Accelerator program: bummer, but more on this later.
LinkedIn has been at this for a while. It started back in March when they started working on a ClubHouse rival. The first step, after stories, was giving users the option to turn on “creator mode.”
“The launch of a new ‘Creator’ mode that lets anyone set their profile as one that can be followed for updates, like Stories and LinkedIn Live videos, for example. This focus on creators puts LinkedIn on competitive footing in terms of expanding its own Clubhouse rival.” — Sarah Perez
LinkedIn wants to be a platform for creatives to go to post their content. I mean, it’s worked so far. Ever since a post of mine got 25,000+ views, I haven't looked back. I’ve been posting on LinkedIn ever since to drive traffic to my blog.
But something isn’t adding up. 100 times $15,000 doesn’t equal $25 millies for you and me.
The real question: Who’s getting paid?
The short answer: Only 100 people are getting paid for now.
These lucky 100 will receive a $15,000 grant to bring an “idea to life.” The question remains, what about the other $23.5 million? That’s yet to be seen.
From what I can tell, anyone who posts a few times a week could be accepted. However, the expectation is that the 100 winners take part in a 10-week program to educate the rest of LinkedIn’s users on creating compelling LinkedIn content.
“This 10-week, incubator-style program for up to 100 U.S.-based creators will give accepted participants coaching, a built-in creator network, opportunities to be featured on LinkedIn channels, and a $15,000 grant to help them share content, spark conversations, and build communities.” — Andrei Santalo
The minimum requirements are, of course, to be 18 years or older and an active LinkedIn member. Chances are they will choose creators who have been highly engaged and influential on the platform, but you should do it anyway because it doesn’t matter if you don't think your content is good enough.
Here’s the content they want to see:
Professional expertise or skills presented in a digestible way
Short and long-form reactions to industry and business news
Vulnerable sharing about work-life balance
Celebrations of the accomplishments of people you know
Ask for help, and give support to others
Here’s the link to apply directly from a LinkedIn blog post:
“*Anyone* who has a story to tell and is driving professional conversations about the world of work can be a creator on LinkedIn. If you’re someone who has the creativity, passion and commitment to build a meaningful community (and is based in the U.S.) — we want you to apply. — Santalo
Maybe when I have 20 minutes of spare time, I’ll apply myself.
Final thoughts
Better to be late to the party than not to show at all.
While 100 initial creators is a good start, it’s still not enough to get the attention of a wider creative audience. It’s safe to say it’s no Quora creator program yet.
LinkedIn plans to expand the program to more people in 2022. So maybe one day, the rest of us will get a shot at the millions still on the table. For now, it’s better not to concern yourself with the money.
LinkedIn is still a lucrative place to garner newsletter signups and traffic to your content. However, you don’t need to use every platform to drive traffic to your newsletter. Use whatever social media works for you.
LinkedIn making an effort to pay its creators is a direct result of the competition. The bottom line: If they didn’t have to pay their creators, they wouldn’t.
As we approach the age of Web 3.0, large platforms are finally waking up. Creators want moolah for their efforts. Creators are superheroes with powers that large corporations cannot emulate.
It’s our time to shine.
Live in the moment, stay patient, and keep working toward your dream. Use LinkedIn to build an audience of superfans who love your content. The longer you work for free, the stronger your habits will be when social media platforms turn on the money printer.