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In Hollywood, actors do not wait half a year to get paid. Under SAG-AFTRA contracts, residuals are distributed within 30 to 60 days of the union receiving payment from studios. That is the standard in one of the worlds most complex entertainment ecosystems. Meanwhile, in the creator economy, worth $250 billion and growing, creators are still waiting 90, 120, sometimes even 180 days for money they have already earned. If actors can rely on 30 to 60 days, why cant creators? They are the directors, the producers, the talent of the digital age. Yet they are treated like unsecured creditors. It is not just unfair. It is destabilizing the entire ecosystem. That is why we need a clear industry standard. If we could get to net 60, or even net 45 over time, it would fundamentally change the trajectory of the creator economy. NO SINGLE ACTOR CAN FIX THIS ALONE Of course, we are not there yet. Sequential liability, procurement cycles, and legacy payment systems make net 45 every time feel aspirational. To get there, we need to address the structural issues holding payments back. The industry must work together to get there. Agencies must absolutely do their part, but fronting payments is not a sustainable model at industry scale. While some agencies with deep-pocketed parent companies can do it, many simply cannot. The big debates for progress usually fall into three camps: 1. Regulation and audit No agency should ever use creator funds as cash flow. Our industry is fortunate enough to have the support of industry bodies that are working to address payment challengessuch as the Influencer Marketing Trade Body, Digital Creators Association, and Creators Guild of America. An accredited audit scheme led by an industry body, working with a Big Five auditor, would force transparency. Agencies would have to prove they release creator funds as soon as they are received. 2. Escrow accounts Escrow is often pitched as a solution to hold client funds on behalf of creators. In practice, it adds another middleman, more complexity, increased cost, and further delays. This industry does not need more friction. It needs discipline and enforceable timelines. 3. Become the bank Some say the answer is new financial products from banks or fintechs, such as Lumanu which enables creators to be paid within 24 hours by fronting payments at a cost, and settling with clients later. This represents a significant milestone in financial empowerment and transparency within the industry. But, like with all industries, financing is most suited as a bridge versus a business model. HOW COULD WE GET TO NET 45? We cannot pretend the industry will abandon procurement systems overnight, when they have been in place for decades. That is not realistic. But we can work within those processes to move the needle. That means: Agencies invoice clients as soon as deliverables go live, not weeks later. For multicreator campaigns, issue weekly invoices for assets delivered. Clients agree to pay within 30 days, in line with how they already pay for other media. Agencies release creator funds in their next weekly payment run, rather than holding them for cash flow. This should be audited by an accredited industry scheme. If these steps are in place, creators could achieve day 45. Not when procurement clears. Just like SAG-AFTRA residuals, it becomes a predictable and enforceable standard. TWO FUTURES The industry now faces a choice. The collective future: Agencies commit to audited standards that prove creator funds are released the moment they are received, provided deliverables are complete. Creators align on consistent terms so expectations are clear across the market. And if clients are able to pay the talent portion of creator fees upfront, even better. Taken together, this raises the bar for everyone. It professionalizes the space, builds trust, and strengthens the foundations of the creator economy for the long term. The bank-led future: If a collective solution is too far from reach, banks and fintechs can step in to fill the gap and advance the money. This type of financing keeps the wheels turning, and the industry should be grateful that it has the option. Yet, financing remains a bridge versus a business model because of the fees and their potential impact to creator earnings. It does affect the economics of the ecosystem. Inevitably the cost of these fees will create an inflationary ripple across the chain. What looks like a fix could become a systemic tax for the industry. THE BOTTOM LINE We need a call to action. Industry leaders must work together, not as one voice but as many, to align on and champion a fix that can be adopted industry-wide. Creators are the industry. Without them, our entire industry fails. They already navigate volatility. Platforms shift, algorithms change, briefs land late. Payment delays should not be part of that volatility. If Hollywood can guarantee 30 to 60 days, the creator economy can too. Net 45 with a net 60 cap is within reach, but only if we work together. Ben Jeffries is cofounder and CEO of Influencer.
Category:
E-Commerce
Theres a line I heard recently from Mel Robbins thats been echoing in my head ever since: People do well if they can.Its deceptively simple. The kind of phrase you nod at, maybe even repost. But when you sit with it, really sit with it, it starts to challenge a lot of the assumptions made every day.Especially when it comes to financial health and literacy. NOT LAZY, JUST LIMITED OPTIONS Lets be honest: Its easy to judge what we dont understand. Its easy to look at people struggling with money and tell ourselves stories. Theyre reckless. They dont care. They should know better. But heres the thing: Most people actually do care. They want to pay off debt. They want to build credit. They want to save for the future, buy homes, support their families, and live with dignity. What they often dont have is access to tools, or a roadmap. Thats not laziness. Thats infrastructure failure. SKILL, NOT WILL I grew up in a community where financial literacy wasnt part of the conversation; not at school, not at home, not even at the bank. I didnt learn what a credit score was until I had already messed up mine. And let me tell you, it took time to understand what mattered and what I could do to change my situation.So, I get frustrated when financial challenges are framed simply as laziness or a lack of personal responsibility or accountability. That framing is lazy.Let me say that again: That framing is lazy. Not the people. Not the effort. The framing. Because once you believe that most people are doing the best they can with the tools they have, everything changes. You stop asking, Why dont they just fix it? and start asking, Whats missing from the toolbox? THE ILLUSION OF EQUAL ACCESS We love to talk about equal access in this country, but the truth is, financial literacy varies widely and the resources available can make a huge difference.You tell people to swim and then just throw them into the deep end without knowing how to swim or having access to a ladder to climb out. Thats what we do when we say, Just build credit. But we dont acknowledge that millions of people dont understand credit or how it works, or even where to start. Most people dont know where to go to find the right educational tools and resources.And we wonder why so many people feel stuck. LETS REDESIGN THE SYSTEM What would it look like if we actually operated from the belief that most people want to do well, and will, if given the right education and tools?In my role at FICO, Im responsible for ensuring were constantly asking that question, and reshaping how people look at the answer. We dont just talk about financial inclusion. We continue to innovate and identify the best ways to ensure our tools show up in communities, our education reaches people, and our partnerships remove friction, it doesnt create more.We continue work with community leaders and other stakeholders to launch programs that meet people where they are. Not just where some may think they should be. We partner with nonprofit organizations, elected officials, and even local credit unions and lenders to host free credit education sessions, translated into accessible plain language and made relevant to the local communities. Because financial literacy and accessibility isnt just about logging in. Its about having access to resources worth showing up for. AND WHAT ABOUT THE KIDS? This mindset shift isnt just for adults, either. Im a mom. And Ive seen firsthand how important it is to provide kids with the right education and tools.They dont always lack motivation. They often lack critical tools, resources, and programs tailored to promote successful education.Sound familiar?Adults are no different. Many are still carrying bad money habits, some going all the way back from childhood. If we werent taught how to manage money at an early age, why do we expect everyone to have it figured out as adults later in life? A BETTER WAY FORWARD So where do we go from here?We start by acknowledging that: – Financial hardship isnt necessarily a character flaw. – Credit literacy isnt a luxury, its a necessity. – Access to available educational resources and tools should not depend on what side of the city you live on. And then we build programs, products, and partnerships to make that a reality.That means working with communities, not on them. It means bringing access to the right educational resources and tools to drive financial literacy throughout all communities.Because if we believe people do well if they can, then providing access to these resources and tools can go a long way to make sure they can. A FINAL THOUGHT There are many people out there right now who wants to fix their credit, get out of debt, or open their first savings account. They may not be lazy or unmotivated. Maybe they just havent yet discovered ways to access the right educational tools and resources to have a fair shot at financial literacy.We dont need to change all people. We need to change how people can get access to the educational tools and resources they need.Because, remember, people do well if they can. And theyre counting on us to make that a reality. Rukiya Kelly is global head of corporate impact and engagement at FICO.
Category:
E-Commerce
Billionaire investor Frank McCourt, former owner and chairman of the Los Angeles Dodgers and Dodger Stadium, says he is investigating the legality of the Trump administrations deal that would see TikTok purchased by a coalition that reportedly includes Oracle, Silver Lake and the Saudi-owned MGX. In an interview with CNN’s Terms of Service podcast, McCourt stopped short of saying he would challenge the deal in court or attempt to join the ownership group. But the information that has been publicly released so far is insufficient and doesn’t address whether the national security concerns with TikTok have been addressed, he said. The status of the sale of TikTok in the U.S. remains in limbo as China and the U.S. continue jockeying over trade issues and rare-earth materials. Ive asked and engaged some really smart people to analyze (the deal) the best they can, with the information available, because there are still missing pieces with what this all means, McCourt told CNN. Project Liberty, a non-profit initiative that seeks to transform how the internet works, teamed with several private equity funds, Shark Tank judge Kevin OLeary, Reddit cofounder Alexis Ohanian and others to, submit a bid to buy TikTok in the weeks before Donald Trump took office. That offer proposed buying TikTok without its algorithm, which China had been unwilling to allow to be sold previously. The Project Liberty offer, which called itself the Peoples Bid for TikTok, valued TikTok’s American operations (without the algorithm) at $20 billion $6 billion more than the deal brokered by the White House. The group said it planned to restructure the social media company to collect less data on users and would use a new algorithm created by the Project Liberty nonprofit instead. The White House’s proposed deal did not address which companies or investors would make up the coalition that would own and operate the U.S. version of TikTok. And there was no justification or explanation for the $14-billion valuation (ByteDance has an estimated value of $330 billion so the low figure for TikTok’s U.S. operations left investors confused). It’s also still unknown if the U.S. will take a revenue stream from the new company, though Trump said the U.S. comes out great in the deal. Perhaps most importantly, though, is where China stands on things. Trump has said Chinese President Xi Jinping gave the White House deal the go ahead. Yet no representatives of ByteDance attended the signing ceremony for the executive order. And China’s government has not commented about the deal since the EO was signed. McCourt, to be clear, isn’t objecting to the White House deal at this point, but says it’s “too early to say” what next steps hell take in response to it. One area of interest to him, though, is the privacy guards that will be put into place. Big tech platforms are scraping and accumulating our data, hyper, micro-profiling us, and now theyre not just selling us ads, but theyre manipulating us, he said. Our data is our personhood in a digital age We should share what we want to share about ourselves. If TikTok is out of his reach, McCourt says he still has plans for the Project Liberty technology that he had hoped would run the site. He plans to transform it into an AI agent that controls when and how a user’s personal information is shared as they explore the Web and interact with other AI systems.
Category:
E-Commerce
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