Short-video platform Firework makes it easier for creators to monetise, launches open story page

He added, "It will truly be a game changer in the business and will re-define the ecosystem and relationships within."

So how does it work? According to Firework with Open Story Page every creator, publisher and brand, can now, own their own dedicated pages and start monetisng immediately. Any content residing in an OSP automatically gets visibility across the wide global network that Firework has built in collaboration with publishers, apps and OEMs.

It also offers ownership to creators to independently build branded content without any involvement from Firework. Firework has also built out two revenue streams – one via the views across the network and the other via the advertising on their OSPs. This means that the creators do not have to wait for a follower base to build for their content to start generating revenue. This is a radical departure from the existing modes followed by social video apps. If a creator works with a brand independently, they can retain 100 percent of the revenue and Firework only comes into play if they or the brand wants the content to accumulate video views inorganically.

Firework was founded in 2018, it allows users to create 30 second videos. Firework’s parent company, Loop Now Technologies is a Silicon Valley-based startup that was setup by early founding members of LinkedIn and Snapchat. The platform made a debut in India in 2019, and as of today is a venture backed by Lightspeed, IDG Capital and GSR Ventures.

With the ban of ban of TikTok in India, the entry of 15-second Instagram Reels, and the rise several homegrown players, the competition in the short video space has intensified. As of now, Firework is the only short video platform that operates on the Open Web and the model is yet to be tested out in the real world.