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Is Famebit for you?

September 20, 2017

This article is intended to help you make an informed decision about whether Famebit is a good fit for you.  If you would like to discuss my thoughts, recommendations, or personal experiences related to Famebit, please schedule a time to visit with me.

 

If you are an influencer, you are likely somewhat familiar with Famebit.  Acquired by Google in 2016, Famebit touts itself as "the premium marketplace for creators to find sponsorship opportunities and earn money from creating and distributing great content." 

 

THE WEBSITE

The Famebit website, https://famebit.com/, is engaging and visually captivating.  Bright colors, catchy images, and simple instructions invite the user to jump right in.  The site is user-friendly and easy to navigate.

 

 PRICING

 

The company offers a basic plan for both creators and brands.  In short, Famebit takes 10% of the monetary value of the deal from each party, or a total of 20% of the deal.

 

 

 

A VIP option, which includes "handl[ing] everything including, setting strategies and custom packages for content and media, curating custom talent lists, and managing execution, deliverables and amplification of hundreds of branded videos at a time to drive meaningful results" is also available to the brands for "a small management fee" of 30%.  If a creator strikes a deal with a VIP brand using this service, the creator ends up with 60% of the money on the table while Famebit pockets a "small management fee" of 40% (30% from the VIP brand and 10% from the creator) of what the brand was willing to pay to get the deal done.

 

SIGNING UP

To sign up for Famebit as a creator, you have to use an account from YouTube, Twitter, Tumblr, or Facebook.  With respect to each of these accounts, the creator must agree to the following to proceed:

  • YouTube - Authorize Famebit to view your YouTube Analytics reports for your content and to view your YouTube account.

  • Twitter - Authorize Famebit to read tweets from your timeline and see who you follow

  • Tumblr - Authorize Famebit to "access some of your data and make posts to your account."

  • Facebook -Authorize Famebit to receive your friend list and email address.

For all of these except Tumblr, if the creator is unwilling to agree to authorize the items listed above, the creator is not permitted to sign up to use Famebit.

 

TERMS OF USE

It is very important to understand that, if you choose to use Famebit, you will have to agree to be bound by the lengthy Terms of Use contract, a link to which can be located in the bottom right-hand corner of the website.  As always, I recommend that you consult with your attorney before executing any contract. 

 

A few items you might ask your attorney about include:

 

 

Note that the terms of use starts with a bold, ALL CAPS  warning that the contract includes a waiver of the right to bring or participate in a class action lawsuit against Famebit.

 

 

Although this is certainly not uncommon, Famebit reserves the right to change the Terms of Use at any time, for any reason, and without providing any notice to the creators.  The contract suggests that, if you continue to use the site after changes are made, your continued use constitutes acceptance of the changed terms. 

 

 The Terms of Use include an agreement to give Famebit "a perpetual, transferrable, irrevocable, royalty-free, fully paid-up, worldwide and fully sublicensable license to access, collect, store and use any data information, records and files" that "you load, transmit or                                                                                                         enter into the Platform."

 While it may never become an issue, Famebit is allowed, at any time and in its sole discretion, to disable your account.  If this occurs, "you may be prevented from accessing Famebit, your account details, or any Campaigns that are associated with your account."

 

Famebit may terminate your account at any time, for any reason, without providing you any notice.  If your account is terminated, provisions in the contract about ownership /                                                                                                        licensing may still be binding.

 

 According to the Terms of Use, subject to a few exceptions, for a period of 6 months after completing a brand deal with a particular brand through Famebit, a creator may not directly or indirectly enter into any agreement with that brand.

 

 The Reviews and Comments section includes another grant of a perpetual license to use anything you post or transmit through the Platform in any way and on any medium Famebit feels appropriate.

 

These are just a handful of things you will likely want to consider and / or discuss with your attorney before deciding if Famebit is the right fit for you.  If you would like to discuss my personal assessment of the pros and cons of using Famebit, please schedule a time to visit with me.  If you would like to request a similar article for a particular website or service, please email me your ideas.

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