As the so-called “creator economy” continues to be dominated by tech platforms like TikTok, YouTube and Snapchat, creators themselves are increasingly looking for ways to get their own slice of the pie.
On Wednesday, one of the most significant shifts in that direction came when FaZe Clan, a collective of game and content creators, went public in a $725 million SPAC merger. FaZe is one of the first truly Gen Z-oriented companies (it counts Brony James, yes, LeBron’s son, as a member), and now, with money from the SPAC deal, it’s planning an offensive.
FaZe Clan CEO Lee Trink says the hollywood reporter That company is already looking to expand into several new areas, including gaming, ghost kitchens (MrBeast’s Beast Burger is a model), fan clubs and subscriptions, and web3 and the metaverse.
“We are well positioned to expand our platform internationally as half of our fan base is outside of the US,” says Trink, adding that “there are a number of emerging categories that provide opportunities to unlock our massive network. to 500. million”.
But the company also needs to expand its creator and content base, and Trink says the company has a plan for that.
FaZe will become an incubator and accelerator for the next generation of developers and creatives to create new IPs, says Trink. “We will leverage the resources we have created and provide infrastructure, resources and capital to support our talent business.”
And he says the company also wants to help other social media content creators grow their businesses.
“As we invest and expand our talent network and welcome new rising stars, we will provide them with the resources, strategy and investment to grow as the creator economy changes as well,” he says. “Bringing on our resources, our business connections, and understanding how we manage to create value for ourselves and our creators, we plan to partner with other influencers and brands to empower them to be CEOs of their own ecosystem.”
Launched in 2010, FaZe has expanded significantly over the years to focus on content creation. Jimmy Iovine invested in 2020 and Snoop Dogg joined the company and its board of directors earlier this year.
FaZe signed with UTA to represent him in film, television, podcasts and endorsements over the past year.
But its gaming heritage (its founders were Obligations gamers) will continue to be in the spotlight, Trink argues that Gen Z is already playing, making it a natural connection point. It also relates to the company’s thinking around web3.
“Games are the foundation of the future of Web3, and that’s where our roots are,” says Trink. “As Gen Z embraces deeper experiences and co-owns the brands and creators they love, let’s allow and support that. Importantly, unlike others, this does not require a massive capital investment from FaZe; It is our brand, inherent experience and relationships with our community that drive our capabilities.”
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
