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The Future Of The Creator Economy With Adam Krasner, Talent Manager & CEO Of Two West Entertainment
Two West Entertainment is a full-service talent management and production company based in Los Angeles and New York. Adam Krasner, talent manager, founder, and CEO of Two West Entertainment, began his career in the television department at WME and has spent more than a decade working with some of the top talent, digital media, and advertising companies in the industry, including Fullscreen and Droga5. Keep reading for his take on the creator economy, VidCon Anaheim, and predictions for the future.
Speaking at VidCon Anaheim 2023
Adam Krasner has attended VidCon Anaheim numerous times, with his first attendance in 2016. This will be his first year speaking at the event.
He shares, “It’s been incredible seeing VidCon Anaheim evolve, with the acquisition by Paramount, the expansion of the creator economy, and how the traditional entertainment industry has realized that it’s very much a space to take seriously.”
Adam spoke on the Industry track panel, “Staying Out of Trouble: Legal & Regulatory Issues in the Creator Economy.” This panel went in-depth about the rapid growth of the creator economy and the attention it’s gaining from lawmakers, regulators, and individuals in enforcement.
The panel addressed questions such as:
- How can creators stay informed about new regulations and engage with regulatory bodies to shape laws and policies that will affect their livelihoods?
- How do creators navigate this complicated and rapidly changing regulatory landscape?
- Questions surrounding the newest developments around digital privacy, intellectual property, sponsorship and advertising regulations, and more.
In addition to Adam, panel guests included Lartease Tiffith, Executive Vice President of Public Policy at IAB, Ellie Heisler, Partner at Nixon Peabody LLP, and Rina Yano, SVP, Business and Legal Affairs at Brands and Partnership Westbrook.
Adam comments, “What we really want to dive into is how these regulations that might seem dry and mundane really affect the day-to-day workings of a creator’s business and how they can be the difference between success and failure in an ever-growing industry.”
How Do You Believe Events Like This Contribute to the Growth and Development of Content Creators?
The root of content creation is connection.
Events like VidCon Anaheim foster in-person connection between individuals that goes deeper than interactions over the Internet. For brands, marketers, and creators alike, creator events provide opportunities to network on a deeper level.
Adam adds, “For creators in general, when they get to meet in person, ideas happen organically that wouldn’t necessarily happen over the Internet, especially in group interactions. I think there’s a lot for talent to gain from these in-person meetings. They often spur collaborative content or turn into budding relationships that lead to meaningful collaborations over time.
Even two creators with similar content have different audiences, so these collaborations are essential for creators to get exposure to new audiences, bettering everyone’s content in the process.
Massive Creator Economy Growth
The pandemic significantly expedited the creator economy’s growth as brands realized they needed a way to reach audiences virtually.
Adam shares, “I think it’s accelerated as well with more on-demand content being the premium content that individuals consume, which removes ads a lot of the time. At the end of the day, authenticity is always key. I think the relationships that a creator can build directly with their audience are going to be more valuable than a direct relationship that a brand has with that audience.”
The opportunity to collaborate between brands and creators may be another accelerating factor, particularly as more and more people turn to content for entertainment.
Creator Economy Trends
AI is a huge topic right now, particularly how it will impact creators and the creator economy.
Adam explains, “I think the question is going to be, especially from a legal standpoint, the ownership of how the AI is generated and to what extent a creator can use that content for their own use and what the monetization of that looks like.”
Currently, questions surrounding AI-created content ownership and monetization are unanswered, but regulations around this will surely come.
Another trend that Adam is interested to see the results of is the Apple Vision Pro, a virtual reality product boasting spatial computing capabilities for the everyday person.
Adam shares, “I think these things can take time for adoption from a wider group perspective, but the ability for creators to really be a part of content creation in VR and AR is going to be interesting.”
Creator Challenges in the 2nd Half of 2023
Rumors of a looming recession continue to hang over creators, but it has yet to come.
Adam shares that a creator economy recession is not something he foresees because brands will always need a way to sell their products.
However, he does recommend that creators diversify their audiences and income to protect themselves from experiencing big dips in their income.
He shares, “Your income is important, and relying on a single platform or a single area is always something that I advise my clients against. Diversification of income is going to continue to be more and more important.”
He also recommends that creators watch themselves for burnout because it can happen very quickly. Social media platforms are businesses created to keep people on the app for as long as possible, and creators aren’t immune to this.
The Future of VidCon Anaheim and Creator Events
Adam comments, “I think our panel has two different potential audiences: the creator and the industry executive. I think from an overarching standpoint for a creator – It’s just being aware of the implications of what it means to sign an agreement and what obligations you’re holding yourself.”
Many great panelists also highlight that having legal experts like lawyers is an integral part of a successful team for creators.
For industry executives, Adam shares that the panel can help them see the bigger picture with the whole set of laws and regulations surrounding the industry.
Adam’s biggest advice for aspiring creators?
“Authenticity is the number one thing. If you’re doing what you love and you’re being true to yourself, it’s going to show through in the content that you make. As far as creators at an event like VidCon Anaheim, this is a relationship-based business, and meeting as many people as possible and not being afraid to put your hand out and introduce yourself is key.”
