About This Source - Bloomberg QuickTake: Now
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.
It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.
Recent from Bloomberg QuickTake: Now:
Bloomberg Quicktake: Now published this video item, entitled “TikTok Stars Are Moving Into All-Expenses-Paid Luxury Mansions in the U.K.” – below is their description.
It’s an all-expenses paid arrangement that sees savvy agencies lease aspirational homes on behalf of young creators with existing fan bases. The luxury pads are filled with branded goods, food and drink, cameras and, on request, helicopters, snakes, or whatever else might lead a doomscroller to pause for 15 seconds. Pioneered in the U.S., British real estate is being snapped up by marketing agencies who want to replicate the successes of their American peers as TikTok rises to prominence to become the social network of choice for fans of short-form videos of dance routines, goofy comedy and pranks. The creator mansion trend started on U.K. soil with agency Fanbyte’s central London Bytehouse in March, and was followed by Yoke Network’s Essex county Wave House in September, and WeRmedia’s multi-million-dollar west London Icon House in October. It isn’t all spa days and fun, however. “It may look like they are just there enjoying a lavish lifestyle, but the reality couldn’t be further from the truth,” said Kelly Levi, who along with Elad Panker co-founded WeRmedia in October 2019. “Working and living under the same roof 24/7 can be challenging.” L.A.’s original Hype House is often used as a blueprint, having played home to TikTok stars like Charli D’Amelio and Addison Rae. Both young women became major celebrities, taking the top two spots in a Forbes assessment of TikTok’s highest earners last year. Rae topped the list with an estimated $5 million. The influencer advertising market may be worth as much as $10 billion this year, according to marketing firm Mediakix. Data compiled by Influencer Marketing Hub suggested a figure of $9.7 billion. And Bytedance Ltd.’s TikTok, while still catching up to Instagram, generated more than $3 billion of net profit on $17 billion in revenue last year. Influencers with large fan bases tend to make their money from brands who pay them to create posts about their products. Creator houses are an evolution of this model, with agencies underwriting living costs and attracting sponsors. In return, their affiliated influencers continually churn out viral videos that can incorporate client products and expose them to millions of potential consumers. As book deals or offers of TV jobs roll in, those agencies are on hand to take a cut of the takings, too. Presented by Samsung Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktakeBloomberg Quicktake: Now YouTube Channel
Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.