On Sunday the television show 60 minutes covered “The Influencers” “Social media stars are earning big money for pitching products in short, often silly, postings seen by millions of followers.”
Parts of the 60 Minutes segment chatted with people who said they were making hundreds of thousands of dollars a year on Vine.
Today Twitter announced they were killing off Vine after they paid $30 million for it back in 2012
“One of the most successful is Andrew Bachelor, known as King Bach, who has more than 37 million followers.
About half of his following is from one platform called Vine. Videos on Vine are just six seconds long.”
“Advertisers pay Bach just to place their products in his clips. He made a handful of videos wearing a Jimmy Johns logo and earned more than $300,000 from the sandwich maker.
Bill Whitaker: You’re making money off of this?
Andrew Bachelor: I can retire if I wanted to.”
Well now that Twitter announced today that they are closing down Vine, I guess Mr. Bachelor is going to have to retire or at least move on to something else.
Just a reminder how fluid the Internet world is and how a huge money maker can change in a blink of the eye.
A good life lesson for all of us.
