With the launch of the new social media service, SoClose.me for Instagram Close Friends, college athletes can now have an avenue to make a fortune doing what they already do daily without ads or endorsement. While we’ve seen this type of money for professional athletes by way of social media sponsorships, you wonder what a college athlete possibly does. This is for Instagram Close Friends appears to have the solution.
King James is the most famous athlete if it comes to endorsements, according to Forbes. He has already earned $23.2 million from salary, and from winnings, he gains an additional $54 million in support. And Ronaldo is undoubtedly the most prominent sports star on social media with over 200 million followers across Facebook, Twitter, and Instagram. He’s also the most valuable, with his promoted posts grossing over $150 million in media value for brands.
Thus, it’s safe to say the media-savvy social athletes can multiply their income streams through their highly engaged social media following clout. The best professional athletes are effectively using their social media profiles to help develop their brands and make big money in the process.
Thanks to a fresh perspective from the NCAA, it seems college athletes will too soon get to reap the rewards that come with being able to receive endorsement and sponsorship deals. In the past, student-athletes under the NCAA’s reign we’re unable to participate.
Due to their student status, college athletes are awarded only in financial aid (scholarships) and have been heavily monitored in the past to ensure they are not soliciting sponsorships offers. With the passing of the new NCAA rule, the social media platform of our website is perfectly positioned to help young athletes earn extra money. It is a website that enables Instagram profiles to charge super fan followers a subscription fee to get access to their behind the scenes exclusive Instagram Close Friends content. With athletes such as Mikey, Bronny & more being young superstars with large followings, so close gives these modern-day teen idol heartthrobs an alternative revenue stream without selling out to brands or endorsements. Now they merely by hype their reputation and show love back to their supportive fans.
After a unanimous vote to adopt these NCAA changes, we’re looking forward to seeing what the athletes will choose to do with this freedom.
Thankfully a journalist by the name of Josh Planos at FiveThirtyEight took it upon himself to provide everyone with some insight to help us navigate these changes.
“To get a clearer picture of the range of money certain athletes may stand to earn under this framework, I reached out to Blake Lawrence, the CEO of Opendorse, a social publishing platform that works with more than 10,000 professional athletes,” Planos wrote.
Taking a load of things into accounts, such as an athlete’s gender or sport, along with their audience size, engagement rate, and seven other key data points, Planos and Lawrence were able to pinpoint the estimated earnings of a diverse pool of athletes.
“For balance, I requested data for two high-profile student-athletes in nine different college sports,” Planos explains. “Lawrence’s findings show that at the highest levels, some of these athletes — who are teenagers in some cases — are in line for huge paydays.”
See the table below.
Stats like Paige Bueckers’ from UConn or Trevor Lawrence’s from Clemson make it clear that some student-athletes could be making well over six figures. But up to 670,000?! For someone likely under 22 years old? It’s no wonder the NCAA is changing their stance. They’ve, technically, been standing in the way of millions of dollars in paid opportunities.
Although these estimates could be rendered as an accurate assessment, it’s essential to make note that these earnings would only account for paid promotions and don’t include one of the world’s increasingly popular ways to raise money on social media: crowdfunding.
By raising money on independent platforms like the above-mentioned platform for Instagram, these athletes can monetize their content in a way that allows them to flourish as independent entrepreneurs regardless of professional success outcomes and keeps them available for any brands. They may eventually choose to the partnership with them. Crowdfunding by inviting users into an exclusive content experience is the way of the future, and to the thanks and respect of the Instagram Close Friends feature in combination with Instagram Subscriptions by the above-mentioned platform” gives athletes closer bonds with fans while securing them and their family’s financial security. If you want to be a social influencer first you have to secure your privacy and social security.
As the world changes to a more digital space, there will be many promising opportunities on the horizon should these new rules be adopted by the 2012-2022 school year? Student-athletes looking to participate should certainly consider polishing up their profiles and get ready for digital stardom!
An athlete’s income sources a lot of money from social media by way of the total influence he has on his fans and followers. Many brands make lucrative offers to famous players and make them their brand ambassador. It is beneficial in both ways. If you think of the player, he earns a lot of money by online photo shooting and recommending the product on his social media. The most popular medium for this kind of work is Instagram because of the high volume use of fans on Instagram daily. It has a user-friendly interface that many people love and appreciate. It is also beneficial for the brand because their sales will increase by way of the famous athlete’s recommendation. As an example, there’s Williamson who’s one of the most renowned college athletes in the game. He is a student-athlete who is earning millions of dollars only as a social media influencer. It is an individual platform where an athlete can gain a lot of extra money without any hard work. He has to manage his profile correctly, and overall he has to be the friendly and famous face of society. Be a social media influencer is beneficial for both parties.