Google announced on Tuesday that they had bought FameBit to help creators diversify their earnings. FameBit is a self-service technology platform that connects advertiser and creators. FameBit becomes Google’s first influencer network. The tech giants also own YouTube.
The acquisition of FameBit is significant because it will allow Google to have the technology to service brands and creators. The company said that the move was wise because it will help in the generation of more revenue. Agnes Kozera and David Kierzkowski launched FameBit in 2013. The headquarters of the company are in Santa Monica. FameBit has created more than 25,000 videos on YouTube, Instagram, Twitter, Facebook, and Tumblr. Some famous brands associated with the company are L’Oreal, Adidas, Canon, Marvel, Sony, and Disney.
Google did not disclose the terms of the agreement. Despite the acquisition, FameBit will still run as an independent company and will not undergo any restructuring for now. Kozera and Kierzkowski said that they hoped they would connect more brands to creators because of the good relationship that Google has with large and small brands.
Google observed that many advertisers had increased their spending on YouTube video ads by 50 percent over the last year. Multi-channel networks have become more competitive. Google aims to provide more value for its services and gain more oversight. Recently, the tech giant updated their term of services for creators to reveal paid promotions. Programs that are in partnership with YouTube allow creators to make money from ads, merchandise, and subscription. FameBit will assist YouTube by linking them with other revenue-making enterprises.
Kozera told USA Today that FameBit influencers earn between $2,000 and $3,000 per month. The influencers get paid in the form of cash or gifted products. The acquisition is similar to Twitter’s purchase of New York-based Niche last year. Twitters acquisition helped to connect creators and advertisers. It should be noted that the Google’s acquisition of FameBit will not limit YouTube creators to working with FameBit. Google announced on their blog that they hoped that FameBit’s democratized platform would allow creators and brands to connect.