Steven.com, a media company aimed at creating "the Disney (NYSE:DIS) of the creator economy," recently received a $425 million valuation following investments from notable online personalities and entrepreneurs, including Gary Vaynerchuk, Whoop founder and CEO Will Ahmed, and Alex Hormozi, according to a press release.
British entrepreneur and investor Steven Bartlett will lead the venture in an effort to take advantage of the growing creator-based market, according to the release.
"My ultimate ambition is to build the Disney of the creator economy," Bartlett said in a statement, "and the strategic partners this funding round has brought on board has enabled me to take a big step in that direction."
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Bartlett has previously invested in online creators and podcasters, including comedian Trevor Noah; is a panelist on the BBC's "Dragons' Den,” the UK's version of "Shark Tank;" and hosts "The Diary of a CEO," one of the most popular podcasts in the world, according to Spotify (NYSE:SPOT).
Bartlett's mission
The recent investments will allow Bartlett's companies to help online creators expand and monetize their brands, according to the release. Bartlett's strategy for potential investments is inspired by Disney's success in combining intellectual property, capital, and infrastructure, he said.
"[Walt Disney] and his successors built a global empire by taking a character like Mickey Mouse and building a universe around him: films, theme parks, merchandise and more," Bartlett said. "This created a flywheel of immense, compounding value which resulted in a generational company."
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Creators could have an opportunity to do the same, he said.
"With my team, I think we are building the modern version of this model," Bartlett said. "But in our world, the IP is not a fictional character. The creator is the new franchise."
YouTube channels like MrBeast have already had success in doing this by licensing their brand to food products, cryptocurrency, and even a theme park in Saudi Arabia. Bartlett is an investor in MrBeast.
Why investors care about online creators
The global online creator market is expected to surpass $528 billion by 2030, according to Bartlett's press release. As a result, multiple investment firms have started backing online creators, and some creators have become investors themselves.
Creators have also played a central role in helping legacy companies increase sales and improve brand loyalty among consumers. More than 90% of marketers said creator-based content, such as sponsored videos, tend to outperform brand-based content and 83% credited influencers with higher conversions, according to a Sprout Social survey earlier this year.
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