The intimacy and immediacy of watching videos on a phone screen (how about 70% of YouTube viewers watch) helps creators connect with their audiences, opening opportunities for making money beyond just a cut of ad revenue. Sergey Vashketov films his two sons, Vlad and Niki, who make wildly popular videos for kids. The boys dress up in costumes, play... See more

In the past few years, startups like Substack, Patreon, and Shopify have created alternative ways for creators to build businesses online through direct transactions, rather than advertising. This shift exposed a simple fact: in an ad-driven world, creators were generally under-monetizing their audiences.