Back in the day, all kids had to worry about was where to get the next pack of Fruit Stripe Gum. 🦓 Today, kids are making money on the internet…and a lot of it. 💵 These "kidfluencers" are prime targets for greedy folks of all sorts, and so far, they don't have any legal protection.
However, a new bill was just proposed in Ohio that would protect kidfluencers from getting taken advantage of. Here's the hot gossip. ☕
Here’s Five Fast Facts on the new kidfluencer bill:
- 🤸🏻♀️ A Kid-flu-WHAT? - The term "kidfluencer" refers to a kid who posts on social media platforms like Instagram and TikTok and makes a ton of cash doing so. Many of these kids have big brand sponsorships that really rake in the dough.
- 💰 Pro Bono - In many cases, kids don't realize the impact of their content being monetized. They're just posting videos, right? Well, that's exactly what predatory vultures count on. Sometimes those close to the child profit off their content while the original creator doesn't make a dime.
- 🔐 Just Trust Me - Ohio's proposed bill would make parents responsible for setting aside a certain amount of funds for their child influencer. The amount would be determined by a formula based on the gross earnings of their content. The money would then be held in a trust fund the child could access once they turn 18.
- ⚖️ Going Viral - This new bill was modeled after a similar one passed in Illinois, the only other state with this kind of legislation.
- 🤳🏼 Gold Mine on the 'Gram - The amount these kidfluencers make is nothing to sneeze at. Their profits could range anywhere from a livable wage to tens of millions of dollars per year. Did we miss our calling?
🔥Bottom line: Unlike child actors, kidfluencers aren't protected under any laws or unions. If this legislation passes, the world will be a little bit safer for young social media stars. Speaking of kids, did you know more states are passing laws to require financial literacy classes in high schools? This article has all the tea.
Got any kidfluencers in your social circle?
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