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Instagram Launches Rings Awards
Courtesy of Instagram
Instagram is debuting an awards body for the creator economy — Instagram Rings.
The Big Picture: The creator economy is now a fully mature industry, competing with film, TV, music, and video games for cultural attention — and, in many ways, winning. So, it was only a matter of time before an official awards ceremony emerged to celebrate the talent involved… or at least give a boost to creators on the platform who’ve seen extra monetization opportunities disappear like an Insta Story.
Behind The Awards: Instagram has three billion monthly active users. The inaugural Rings awards will celebrate just 25 of them.
The awards, which will be announced on October 16th, will span content categories including fashion, sports, and entertainment.
The judges include Instagram head Adam Mosseri, head of fashion partnerships Eva Chen, English fashion designer Grace Wales Bonner, filmmaker Spike Lee, rugby star Ilona Maher, designer Marc Jacobs, actress Yara Shahidi, artist KAWS, and more.
The judges worked with Instagram’s internal creator teams to narrow the options to something manageable — because where do you even start with billions of users?
Final Tally: Winners will receive both physical and digital gifts — including a gold ring designed by Wales Bonner for both their finger and their profile picture, the ability to customize the background color of their profiles, and featured placement in a dedicated spotlight and feed within the app.
That last perk may be the biggest win of all, especially after marketing firm Kajabi found that brand deals on the app have shrunk 52% over the past year and Bank of America reported that sponsorships are now primarily focused on the biggest creators in the game.
Prediction: Mirroring the “Oscar effect,” expect lesser-known creators who score a Ring to see their profiles skyrocket in ways that could change their lives overnight.
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Today’s email was written by David Vendrell.
Edited, Polled, and Copy-edited by Kait Cunniff.
Published by Darline Salazar.