Why Early Payments Matter to Publishers, Writers, and Creators
Today’s internet is one gigantic content-driven marketplace. We take it for granted that much of the material we absorb on a daily basis – whether it be news, perspectives, or entertainment – is free for the taking. But someone had to put idea-to-pixel. Those journalists, writers, photogs, designers, musicians, and creators need to be compensated for their craft. Without these content producers, there would be no media.
No media, no clicks. No clicks, no results.
Some of the revenue is ad-driven. Some is subscription-based. Some of it comes from donations. Some of it involves complex royalties and licensing. It doesn’t matter. If there’s a maker (freelancer or otherwise), there should be a payer. It’s simply the worthy exchange for work and services rendered.
Creators Are Talking
When creators are not paid, partners become pains. Ebony magazine is being raked over the Twitter coals on the #EbonyOwes hashtag by writers and designers vocalizing about how they’re getting stiffed. Perhaps no content Ebony could publish today has tarnished the brand and the 72-year-old legacy of the publication more. Who Pays Writers is an interesting site that anonymously crowdsources what writers are getting paid and how well. For example, did you know the Guardian in the US pays Net 60 for a 1,200-word feature? While on one hand, Who Pays Writers a timely resource for freelancers, it should also be a motivator for publishers and web destinations that rely on quality creator relationships to maintain a strong reputation and rich, unique content.
These, of course, are just a couple of examples. There are review sites for everything from ad networks, affiliate networks, MCNs, and online marketplaces. The media world revolves around reputation, and you’re sullying yours if you kick the payment can down the road.
There’s No Excuse
In this digital era we live in, it’s preposterous not to pay providers on time (if you have the funds to do so). Analytics tools and ERPs make it seamless to go from performance-to-pay or invoice-to-pay. There should be no friction unless the company is unhealthy and struggling. And executing partner payments in a streamlined way? Just browse our site to understand how easy THAT is. Onboarding and paying partners should literally take a few minutes a day. That’s it.
Still unconvinced? Worried about the investment of technology?
The Win-Win Solution
This week we’ve introduced something very new to the equation. Frictionless, easy, no-fuss automation of early payments to partners. If you’re currently paying Net 30 or Net 60 or Net 90, it doesn’t matter. We can pay your creative partners, in many cases, on the same day in a matter of clicks.
No negotiations. No ad-hoc partner credit checks. No separate bank accounts to manage. Even internationally.
In fact, early payments can potentially earn your business money back. Use the rebate to pay for operational improvements. Or even be super-cool and give your creators a bonus. It’s completely up to you.
If you want loyal, energized content creators… if you want to avoid the #EbonyOwes horror… turn an adversarial relationship to a symbiotic one. Turn a pretty-good relationship into a locked-in one.
As a media property, all you have are your audience, content, and reputation to rely on. And they are ultimately – and intimately – connected.