Rolling Stone, an American monthly magazine, will now cover the creator economy in addition to music and politics as part of the renewed investment strategy.
The debut issue features YouTuber MrBeast (Jimmy Donaldson) and tells how he made a fortune by uploading YouTube pranks. Besides MrBeast, the issue will also feature an interview with TikTok star Bella Poarch, and other social media influencers.
Gus Wenner, Rolling Stone CEO, told Axios that the magazine's renewed investment strategy is now focused on creators as it had an "unbelievable turnaround" with its most profitable year in two decades in 2021. He also added that Penske Media, the new parent company of the magazine, will "invest heavily" in covering the creator economy.
Axios emphasized that Rolling Stone was unprofitable when Penske Media acquired a stake in it from Wenner Media in 2017. However, two years later Rolling Stone broke even and would've gained a bigger profit in 2020 if it weren't for the COVID-19 pandemic, Wenner stressed.
Rolling Stone isn't a pioneer in its efforts to capitalize with creators. To The Moon earlier reported that big brands are willing to pay thousands of dollars per post on Instagram to creators. Amy Luca, a Senior Vice President at Media.Monks, a marketing agency, says this strategy indeed payoffs given that some of the Instagram influencers "are reaching more people than the Oscars broadcast."