For anyone that picks up a daily copy of Women's Wear Daily, you will have been met with a most surprising headline this morning. The world this morning discovered that some of the world's top bloggers are now millionaires. It wasn't that long ago that the industry was shaking their heads saying "how can these people be making six figures?" Now, it seems in under just two years, the game has changed so much that yet another zero has been added on to the tally.
I suppose the question is, how are they doing it? That's what everyone wants to know, right? How can you become a successful blogger? What's the magic ingredient? Well, I guarantee you most bloggers can't even tell you that. How they are making money is clear. It's the "how to" on grabbing and maintaining readers that seems to be the big question that never comes with an exact formula. Sorry in advance if you came here looking for that.
So how are they making money? While some bloggers in the article claim they don't get out of bed for brand collaborations for less than $25,000 (yes, we're back to the age of the supermodels), others are making their money through traditional advertising on the site, sponsored posts or affiliate programs (some making as much as $80,000 a month).
While all of these numbers were indeed very interesting, what was more relevant was the switch that seems to be coming in the way in which the world interacts with bloggers. It seems readership is down significantly for many, but it's because readers are getting their fill in a new way - through instagram. Instagram is the new leading "micro-blogging" site. Numbers may be down on the blogs but numbers are way way up on instagram and the interaction is insane. There's even a way now to monetize instagram as bloggers can now sell directly from the picture they're sharing.
So what does it all mean? Well, there's no profound statement to be made here. The tides are always turning and one can only imagine that in another year's time there will be another social network taking us away from instagram, seducing us with some new way to share our so-totally-cool lives.
PS. You know I'm only kidding when I say that we're sharing our perfect lives, right? You know we're keeping it above board here at FFG. No reason to share the downtimes on social media, but you better believe they exist. So don't go thinking any perfect life scenario exists here. Remember, even the million dollar bloggers come with their own set of problems.