Join Hayden Hillier Smith and Jordan Orme on a captivating journey as they explore the art of monetizing editing in 2024. From different income streams for editors to maximizing freelance gigs, they discuss tips for new editors and Hayden's brilliant new business model. They also explore the pros and cons of agency work and content creation, the value of learning software and mastering pacing and sound design, and the importance of originality in editing.
The editing industry is expanding rapidly, creating new opportunities and challenges for editors.
The editing economy is witnessing the evolution of compensation models, offering editors the potential to earn more based on the success of the content they edit.
Deep dives
Closing the Retirement Savings Gap for Black Americans
TIAA is on a mission to address the retirement savings gap for Black Americans, with 54% lacking enough savings. Through collaboration with artists like Wycliffe John, TIAA released "Paper Right," a music project aimed at inspiring a new financial future. Streaming sales will benefit a nonprofit teaching students about investing.
Navigating the Changing Editing Economy
The editing industry is expanding rapidly, creating new opportunities and challenges for editors. Online editors can leverage emerging trends to increase their cash flow, while traditional editors may need to adapt to new avenues. The growing demand for edited content, especially in the digital space, has led to opportunities for both experienced and beginner editors.
Evolving Compensation Models for Editors
The editing economy is witnessing the evolution of compensation models, beyond traditional flat rates or hourly fees. Revenue splits, reward-based compensation, and residuals are becoming more common, particularly in web media editing. These models offer editors the potential to earn more based on the success of the content they edit.
Freelance Editing and Maximizing Earnings
Freelance editing offers opportunities for editors to maximize their earnings. While starting by taking on various projects can be beneficial, niching down to a specific genre or style can lead to becoming an expert in high-demand areas and commanding higher prices. Balancing workload, setting work hours, and learning to say no to projects that don't align with one's goals are essential for success in freelance editing.
0:00 - The 2024 Editing Economy
2:11 - The Different Ways Editors Are Getting Paid
5:27 - Jordan's 2024 Income Streams
7:06 - Hayden's 2024 Income Streams
7:58 - How To Maximize Your Freelance Gig
9:30 - Niching Down vs. Staying Broad As Editors
11:40 - Tips To Stop Taking On Too Much Work
14:44 - Hayden's Brilliant NEW Business Model
19:20 - Use Streamlabs
19:58 - How New Editors Can Make Money in 2024
Hosts: @HillierSmith@JordanOrme
Editor: @TysonPellegrini
Executive Producer: Vishnu Vallabhaneni
Thumbnail: @davidaltizer
Additional music thanks to AllttA
Optimum by AllttA: https://open.spotify.com/track/3cKill...
Welcome to The Editing Podcast, where hosts Hayden Hillier Smith and Jordan Orme delve into the dynamic world of editing. In this episode, join them on a captivating journey as they explore the art of monetizing their craft, skills, and profound love for editing in the year 2024.
As the hosts share their insights, they shed light on the myriad opportunities that 2024 brings to the editing landscape. From the evolving technological advancements to the latest trends in visual storytelling, this episode is a treasure trove of information for both seasoned editors and aspiring enthusiasts.
Discover the innovative ways in which viewers and editors alike can glean valuable tips and lessons about the editing economy in 2024. Hayden and Jordan discuss the changing dynamics of the industry, providing a comprehensive guide on navigating the challenges and capitalizing on the exciting prospects that lie ahead.
Whether you're a content creator looking to enhance your editing prowess or an editor seeking to monetize your skills effectively, this episode is a must-listen. Tune in to The Editing Podcast and stay ahead of the curve in the ever-evolving world of editing in 2024.
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