After raising $200 million at a $1.7 billion valuation earlier this year, Spotter has committed $1 billion to creators in the form of direct investments. Spotter’s best-known financing model is catalog licensing, in which it takes ad revenue from creators’ back catalogs in exchange for the upfront cash those creators need in order to make new videos.
We still don’t know the full list of creators who will benefit from that billion-dollar boon, but Spotter has made one thing clear: Even beyond that ten-figure investment, it plans to support creators from diverse backgrounds. The L.A.-based company has joined forces with media experience agency Havas Media Group. Together, the two partners will work with brands to put money “directly into the hands of diverse creators.”
Spotter and Havas will connect brands with creators of color and will ensure those brands deliver direct payments to their partners. This initiative will be built on top of the work the two companies are already doing. In 2021, Havas launched BIPOC Media Connections, a program that supports Black-owned and Hispanic-owned radio stations.
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In a press release, Spotter said it has already committed $125 million to diverse creators through its own direct investments. Those are separate from the brand investments that will result from the Havas partnership. “We are thrilled to partner with Havas Media Group to further our commitment to diverse creators,” Spotter CEO and Founder Aaron DeBevoise said in a statement. “As more creators are becoming enterprises in their own right, providing a way for brands and advertisers to support in that journey is a monumental next step. This capital is key to helping fuel diverse creators’ businesses, grow their channels, and support their overall expansion.”
Spotter and Havas are not the only companies who are looking to fund diverse creators in the digital media space. YouTube’s Black Voices Fund recently opened up submissions for its 2023 class, and Meta’s We The Culture initiative will be prominently featured at this year’s VidCon. Pinterest has also allocated thousands of dollars for creators of color.
More information about this partnership is available via Adweek.