Social media influencers ‘do not just stand in front of the camera for fun’
▶ More than 3,000 visitors and 300 companies consider how AI is transforming the booming sector
Amid the buzz around artificial intelligence and a fast-changing social media landscape, the 1 Billion Followers Summit – bringing together leading social media influencers and content creators – got under way in Dubai yesterday.
At least 3,000 visitors, 100 speakers and more than 300 technology and social media companies are gathering at the Emirates Towers and Dubai’s Museum of the Future for the two-day event.
Facebook parent Meta, YouTube, TikTok and Snapchat, are among companies present.
In the opening speech, Alia Al Hammadi, chief executive of event organiser the New Media Academy, reflected on the optimism surrounding influencers and content creators.
“The impact we have is not just in numbers,” she said.
“The impact we have is in the stories we tell and the positive change we can inspire.”
Ms Al Hammadi said there were about 50 million people working as content creators globally – compared to her estimate of 67 million employees in the energy industry.
“It’s not just a bunch of youths standing in front of the camera for the sake of fun and entertainment,” she said.
“It’s a multimillion-dollar industry and it’s expected to keep growing.”
Among influencers and content creators headlining the summit are Khaby Lame, originally from Senegal, who has 113 million followers on TikTok, Hassan Suleiman, better known as AboFlah, a video gamer and live streamer with more than 35 million YouTube subscribers, and Abir Al Saghir, a Lebanese celebrity chef with more than 27 million followers across various social media platforms.
Also taking part in the summit, although not necessarily from the social media influencer world, is Egyptian comedian Bassem Youssef, who hosted a discussion on The Dark Side of Making it on Social Media.
Influencers, many of whom first gained their fame, followers and financial success amid social media’s global ascent around 2007, have been faced with the challenge of quickly adapting to the changes in social content consumption.
When launched in 2010, Instagram, which put many influencers on the social media map, consisted of mainly photo content with photo filter options.
Influencers made their mark by showing aspirational lifestyles and eventually made money through branded content and product placement on the platform. This set the standard for the influencer economy model for several years.
However, in recent years, the Meta-owned company has pivoted towards short videos – or Reels as the company calls them – in an attempt to catch up with Snapchat and TikTok in this area.
What had once worked for both influencers and businesses Instagram soon took a back seat to videos, forcing many to change their approach.
It is merely one of many instances of companies changing strategies and altering platform options to adapt to a changing landscape.
Another change is the increasing prevalence of AI, which is streamlining the process of composing posts, scheduling content and even the generation of videos, photos and art.
Some AI-generated social media accounts have cultivated large followings, prompting some observers to question the longevity of the people-powered influencer economy.
One of the many panel discussions at the summit – titled AI Can Do it Better, and It’s OK – addresses the dramatic changes AI has brought to the social media landscape.
However, the social media influencer economy itself shows no sign of slowing down.
Despite the challenges AI is posing content creators, the creator economy market has the potential to double in the next five years, according to a report from Goldman Sachs.
This is amid an increase in digital media consumption and the emergence of new technology – possibly rising to $480 billion by 2027, from $250 billion in 2023.
Goldman Sachs said there were about 50 million independent online content creators around the world.
However, offsetting the potential economic upside for creators is a growing concern that social media use might be affecting mental health.
According to the 2023 Arab Youth Survey, most young people in the Arab world believe social media is having a negative effect on their mental health – with 74 per cent struggling to disconnect from their apps.
But there is also the sentiment that social media and content creators help to show a common humanity and bring the world together.
“A meme can change your mood, a song can change your outlook and a podcast can give you skills you didn’t have before,” said Ms Al Hammadi.
“Content changes the world and your influence surpasses boundaries and sets the tone for society … you have the power to shape this world,” she said.
The summit heard that social media and content creators help to show a common humanity and bring the world together