Emmett Shear, CEO of Twitch, believes that US employment rules could be amended to help support content producers who bring in millions of dollars for the website’s live video streaming service.
It’s not exactly a contractual work, neither is it quite a W-2 job, “In a recent interview, Shear said. “I believe that we could truly benefit from legislation that established a third choice suitable for both the gig economy and the creator economy.”
For years, there has been discussion over how to categorise those who rely on apps or online services for their livelihood, such as Uber Technologies Inc. drivers, DoorDash Inc. delivery personnel, or TaskRabbit’s Ikea furniture assemblers. Around 16% of US adults have earned money through such apps, according to a Pew Research report last year.
With varying degrees of success, gig economy behemoths like Uber Technologies Inc. and Lyft Inc. have invested years and millions of dollars in an effort to maintain drivers categorised as contractors rather than employees. Shear’s remarks are consistent with those made by Uber CEO Dara Khosrowshahi, who has advocated for a “third path,” outlining principles for legislation that would provide gig workers flexibility and benefits.
A recent proposal from the Biden administration may make it more difficult for gig economy businesses to designate their employees as independent contractors and may compel them to do so in order to provide them with certain perks and protections.
When Twitch, a platform owned by Amazon.com Inc., first debuted in 2011 as a way for gamers to broadcast their gameplay and engage with followers, it was a pioneer of the creative economy. Thousands of people rely on the website as their main source of income thanks to its success over the years, which has allowed them to monetize their fan communities through monthly memberships, ad money, and contributions.
Top streamers on the platform can bring in more than a million dollars annually just from subscription fees, of which Twitch keeps 30% to 50%.
However, top streamers must give it their whole focus if they want to succeed in the $104 billion creative economy, which is becoming more and more competitive. Some people have been known to skip vacations or livestream themselves for up to twelve hours a day in order to maintain their following or relevance.
Recent adjustments to the way producers can monetize their work on Twitch include a reduction in the percentage of earnings top broadcasters can keep if they reach $100,000 and a greater focus on advertising. The change sparked debate among artists, and many of them began to doubt their own financial security and the site’s prospects for growth.
Tech businesses aren’t accustomed to the extent to which creators rely on them, which is one of the essential dynamics of the creative economy.
However, top streamers must give it their whole focus if they want to succeed in the $104 billion creative economy, which is becoming more and more competitive. Some people have been known to skip vacations or livestream themselves for up to twelve hours a day in order to maintain their following or relevance.
Recent adjustments to the way producers can monetize their work on Twitch include a reduction in the percentage of earnings top broadcasters can keep if they reach $100,000 and a greater focus on advertising. The change sparked debate among artists, and many of them began to doubt their own financial security and the site’s prospects for growth.
Tech businesses aren’t accustomed to the extent to which creators rely on them, which is one of the essential dynamics of the creative economy.