Creator's Dream Enabler — Creative Juice

With the vigorous development of social media and audio-visual media, many creators share their good ideas and works through these platforms, thus expanding new industry categories. However, the industry is still in the early stages of an industrial ecosystem, the tools and resources to support its development are still limited, and creators often lack the capital and business tools to build a business. Compared with borrowers working for listed OTC companies with stable income, creators are less likely to obtain financing from banks.

In order to provide better financial services for underserved creators, Creative Juice, a financial technology company established in 2021, has created bank accounts and business tools for creators, and provided funds so that creators can rest assured Build a dream. How does Creative Juice solve the challenges faced by creators? How is it different from traditional banks? And how did he attract thousands of creators to apply?

Financing problems encountered by creators

The rise of audio-visual platforms and social media has expanded people's unlimited creativity and visibility, which in turn has created many new ways for individuals to generate revenue through online products, services and audio-visual content. However, traditional banks do not understand the business model behind video or social platforms, and traditional banks tend to lend money to borrowers who work in listed OTC companies with stable income. Therefore, it is difficult for creators to obtain loans from banks, but it is different from the general industry. Likewise, creators often need funds to produce work. Faced with such a dilemma, Creative Juice's services for creators' financing problems were also born.

Company Profile

Fintech startup, Creative Juice, was co-founded by founders Sima Gandhi and Ezra Cooperstein in January 2021. The founding purpose is to provide better financial services for underserved groups and to create a society of inclusive finance. They agree that creators are still misunderstood by traditional financial institutions, and expect to help creators achieve better business outcomes through the banking business they create.

Creative Juice was named one of the top 50 most innovative fintech companies in 2022 by Forbes Business Magazine. Provide digital banking apps and inject funds into creators to help creators on YouTube or other video and audio platforms develop their budding careers.

When founder Gandhi was at the former financial services company Plaid, he found that while the creator economy was booming, traditional banks and lenders didn't understand the business models behind it. Hence the creation of Creative Juice, which started out as a financial management solution for creators, helping them manage their funds from various apps and sponsorships, forecasting their earnings and automatically invoicing. It also enables YouTube users to receive early access to their AdSense earnings.

The creator of the audio-visual platform, MrBeast, tweeted that he hopes to have a channel to invest in creators. Creative Juice teamed up with MrBeast to test this way of investing in creators with a $2 million fund, and Juice Funds was born.

service provided

1. Business Toolkit: Creators can use a complete set of financial and management platforms when they apply for an account with Creative Juice and pass the review. Offers analytics systems, invoicing tools, pay-now features, and media kits. Invoicing tools and instant payment functions can help creators effectively manage their team's cash flow, and can predict future income through the analysis system. Creators can use these applications to collaborate with their work teams to improve work efficiency.

2. Juice Funds: Advance funds to creators to develop their careers. As of April 2022, Juice Funds plans to invest $50 million in creators.

Profit model

The online tools and resources provided by Creative Juice do not charge creators a monthly fee, but evaluate the existing financial and business conditions according to different creators. Given different Juice Funds contracts, creators will give them according to the contract content within a specified time. The percentage of revenue agreed with Creative Juice, and creators need to continuously update the content of their audio-visual platform to ensure the quality and quantity of the content produced.

Company status

Creative Juice has received thousands of applications, but only about 20 creators have applied to Juice Funds, because this is a big investment bet for Creative Juice, and its profitability depends on the creators' business performance. Therefore, in order to ensure the interests of both parties, they have a very strict review mechanism for creators' application conditions.

Advantage

1. Simple account opening process: Digital account opening process, you only need to fill in the relevant information on the website, and the account can be opened after being reviewed by the Creative Juice team.

2. No monthly fee or minimum fee: After passing the review, creators can use the online account and toolkit provided by Creative Juice for free. You only need to pay Creative Juice an agreed percentage based on the monthly revenue, without the pressure of a fixed monthly fee.

3. Financing solutions:

(1) Receive advertising revenue in advance: Link Google Adsense and Creative Juice bank account, you can immediately get the advertising commission paid once in 30 days

(2) Interest-free funds: Unlike traditional bank loans, the funds provided by Juice Funds will not charge interest to creators. If creators don't make enough money to repay their funds before the contract term expires, it's Creative Juice, not the creator, who suffers.

4. Cash back: Cooperate with online payment platforms (YouTube data analysis, music production tools, community marketing, etc.), so that creators who use Creative Juice can improve the quality of video creation, strengthen background analysis capabilities and marketing capabilities, and get 5% at the same time -50% cash back.

Taiwan - Dream Silver

With the increasing number of entrepreneurs, Taiwan's Dream Silver Team has also been born. In addition to the "intermediary" role of traditional banks and financial institutions, directly through the Internet platform, in the form of P2P (Peer to peer) lending, the Funds provided by funders are loaned to entrepreneurs in need.

Like Creative Juice, Dream Silver provides financing solutions to entrepreneurs who are difficult to apply for bank loans. The application can be completed online without visiting the counter in person. However, unlike Creative Juice, Dream Silver is open to more oriented entrepreneurs, and the funds of Dream Silver come from investors who are interested in entrepreneurs, and entrepreneurs need to pay investors interest. Although Juice Funds users do not need to pay interest, creators will give the agreed percentage of revenue with Creative Juice every month according to the content of the contract.

Mark's thoughts

Creative Juice is closer to the role of an investor in its model, assisting video creators to grow by providing relevant tools and funds to gain profits from future operations. The reason why this business model can work is also because the potential video and audio creators over the years have the characteristics of high explosive power and high returns compared to other industries if they are properly nurtured.

For example, well-known Youtube creator Li Ziqi made his fortune in 2016. In 2017, MCN assisted in the discovery, planning, promotion and creation of YouTube channels. In 2020, he has already earned 1.6 billion yuan, and the profitability is almost far higher than that of well-known local Chinese companies. Listed company, and the world record for the most subscriptions to YouTube Chinese channels in the following year.

In recent years, in addition to providing financial services, many Fintech companies often provide more tools or functions to help customers grow in order to maintain a longer-term cooperative relationship with customers. Especially the rise of emerging industries is getting faster and faster, and the traditional financial industry is very It's hard to keep up with this pace. Whether the banking industry will return to its role of focusing on financial infrastructure, or whether it will adjust its functions more quickly after digitization, is worth continuing to observe.