Creative Juice had a big presence at the recently concluded VidSummit. During the online video meeting, the fintech company unveiled a pair of additions to its owner juice fund. The Refresh will offer Creative Juice’s take on the catalog licensing model pioneered by companies such as Spotter and Jellysmack. Creators who opt for a Reserve will be paired with a member of the Creative Juice team.
Refresh and Reserve are both built on top of Juice Funds, which Creative Juice uses to pay creators. The two-year-old company added $50 million to its internal fund after raising a $15 million Series A earlier in 2022. Since announcing the infusion, Creative Juice has paid out $6 million to videographers, 50% of whom come from underrepresented backgrounds. . The company plans to invest an additional $20 million over the next six months.
The new funding models will diversify Creative Juice’s payments. Refresh offers can last for three, six or nine months, although they are only available on YouTube. As with other catalog licensing programs, Refresh provides upfront money to creators. In exchange, Creative Juice collects ad revenue from previously uploaded content.
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Discount offers offer invitations to Creative Juice events, and the company’s other new product is also strengthening its ties with its customers. Creators who accept a reserve agreement receive “access to a dedicated Juice team member” along with other benefits. Standby contracts, which can include up to $2 million in funding, are available for one-year, two-year, and three-year terms. Unlike Refresh, Reserve is not limited to YouTube; creators on Facebook, Twitch, and Patreon can receive these funds.
Creative Juice showed off the Refresh and Reserve betas at VidSummit, which took place in Los Angeles during the last week of September. “Juice Funds Refresh motivated me to make better videos and hire a video editor,” said LeSimonShi, which is an early adopter of Creative Juice’s Catalog Licensing Service. “At some point a business owner has to start outsourcing and now I can pull the trigger to grow my business with easy upfront money through Juice.”
Refresh and Reserve will open to all “eligible creators” in “early November”, according to an email from Creative Juice. Although the company is backed by several big YouTubers, it also offers funding for smaller creators. In a statement, Creative Juice Head of Creator Partnerships and Investments Dustin Blank said the channels “from 10,000 subscribers to 4M+” have reached agreements with his team. “We are focused on supporting and investing in creators of all sizes and across industries,” Blank said. “This type of creator is just as important as a big star – that’s what the creator economy is.”