Creator-Focused Regional Streaming Platform Poised for Explosive Growth; Announces 5 New Cities; Announces $1M Creator Profit Target; Hires Head of Creator Equity
LoCo+, the world’s first Web3 creator-first, regional streaming platform announced today the addition of 5 new cities to the platform, as well as adding key roles; Head of Creator Equity, Nesha Nycee, and Product Advisor James Malone.
Founded by policy and entertainment industry veterans Kate Atwood and Megan Matousek, LoCo+ was created to harness authentic creative, cultural, and social capital at the regional level; giving those creators access and opportunities to transform aspirational value; forging stronger and more direct connections with their audiences.
Empowering the 97%
The playing field for creators remains uneven; of the more than 50 million creators, only a startling 3% make more than minimum wage.
Yet, the promise of Web3 and all of its trimmings (Metaverse, NFTs, Crypto, etc.) sets the stage for creators and brands to create new economic value and transform audiences into investors. Ensuring these opportunities remain open for all is the biggest threat to the Web3 ecosystem.
With the appointment of Nesha Nycee, the company seeks to empower the remaining 97% of creators and close the gap between creator worth and value; stewarding the development of equitable operational models; products/assets that are open, collaborative, and collective; and ultimately, community and connection.
Naming Head of Creator Equity
Nycee, an artist and a Founding Creator of LoCo+ Atlanta, will assume this role to transform an industry that unscrupulously extracts value from creators yet rarely invites them to the table to lead.
“It’s revolutionary, really,” Nesha emphasizes, “Amplifying the voice of the creator so that it is loud and clear is refreshing.
But I think what this role is really signaling is that the notion of ‘having a seat at the table’ should be a thing of the past.
Organizations can actually create a space for everyone to have their own tables whilst collectively we use our strengths and weaknesses to empower one another!”
Creator equity is long overdue. Research paints a sobering picture of the present state of the creative economy, indicating that while BIPOC creators make up an astonishing 49% of the population, the racial pay gap between white and BIPOC creators is 29%. Similar statistical disparities apply to gender as well as LGBTQ+ communities.
Nycee’s position is designed to directly tackle issues of underrepresentation. She will translate and amplify the heart and soul of the creator community and become a force for authentic inclusion on the business side of creativity. She is the industry’s first female appointed to this role.
Nycee is an award-winning Hip Hop artist and founder of independent label Nycee Krown Ent. She has collaborated with some of the world’s biggest artists including Drake, Lil Kim, Brandy and Monica, and her work has been featured in HBO’s smash hit Euphoria, and Starz’s hit P-Valley.
Building the Bridge to Web3
Creators with millions of fans — as well as those with just a few hundred fans — are turning to platforms where they can control their relationships, data and their IP.
The LoCo+ platform has seen steady creator growth at 30% MoM since the launch of its first community in Atlanta 2021.
With the addition of James Malone, LoCo+ can continue to build the creator community on a streaming platform that currently uses web2 tools, while accelerating building and developing the infrastructure and incentives that will be the most adaptable to web3 as massive adoption occurs.
Prior to joining LoCo+, Malone co-founded Cereal and held positions at Travelbank and Deloitte.
“We are still very much in the nascent stage of web3, but with James’ expertise, we can use this time to lay down the infrastructure, principals, and network so that as the evolution into the new frontier happens, it won’t just go to the few at the top, like it did with web2.”
said Atwood.
Expanding to New Cities
The current swath of goliath social media platforms completely misinterpret the significance of community capital, forcing both creators and enthusiasts to transact under globalized algorithmic control. This disregard is most prevalent at the regional or local level, where creators rely on a centralized patch network of resources and advocacy to launch their careers.
This approach, dubbed the “Local Blueprint” not only fosters a strong emotional connection between fan and creator, but also makes a notable contribution to the local economy.
To date, more than 300 creators have signed up for the platform in the Atlanta market. As a result, LoCo+ is launching in five new markets that represent various sizes but all have experienced double-digit growth in their number of creators since 2017.
Beginning April 5th, LoCo+ will open up submissions for the 100 Founding Creator members in New York (+16.8%), Miami (+15.4%), Los Angeles (+21%), Denver (+12.2%) and Austin (+16.3).
The platform plans to roll out in parallel to the volume of creators who submit, creating a bit of local competition and incentive amongst creators and their hometown communities.
Furthermore, Atwood and Matousek will host a series of private dinners uniting creators, industry leaders, policy makers, brands and other organizations to discuss building a supportive ecosystem to leverage the real impact of the creative economy.
“With LoCo+, creators have the home field advantage to launch and grow; celebrating their cultural reverence while activating the community that surrounds them. We are excited to expand markets, to discover new voices and representation.”
Matousek states
Building the Betterverse
“Web2 took local off the value chain. This pivot has created more extreme disparities across our communities. We have an opportunity with Web3 to bring local back to the value chain starting with our creators. The economic multiplier that comes along with investing in them and a full aggregated creator economy.”
said Atwood
In support of this philosophy, the company has announced a $1M Creator Profit target by the end of 2022. It is worth noting that while most platforms have recently developed specific Creator Funds, it takes the majority of creators an average of four years or more to be able monetize their content.
“We’re focused on helping creators build a career and communities stay vibrant, We have a unique opportunity at this moment to develop the principals and the infrastructure of Web3 that unlock financial potential and sustainability we’ve never seen in the history of the creative industries.”
adds Matousek.
About Loco+
