BBTV Offers Creators Expedited and Cypto Payments

The media and technology company BBTV has launched a service called Fast Pay, designed to expedite monthly payments for creators.

“Following registration to BBTV Fast Pay, creators will receive their current and next month of earnings for their first pay period, providing up-front capital that can be used to invest in content creation and growth,” the Toronto company said in a news release Wednesday (Nov. 10).

BBTV says Fast Pay is offered “at a competitive fee” to let creators grow more quickly. It follows the company’s recent $125 million deal with Spotter as BBTV looks for new ways to leverage its content library and add “incremental bolt-on revenue to the business.”

BBTV says it is also looking at Web3 payment solutions that would make crypto payments part of its regular interactions with content creators.

Starting as early as next month, BBTV will give certain creators the option to get earrings in BTC, ETH and USDC stablecoin. BBTV says that, to its knowledge, it is the first listed media company offering this service to creators.

“We consider content creators to be entrepreneurs who need access to financial resources to grow their business and we are here to deliver. BBTV is a one-stop-shop for everything a creator needs to grow their views and revenues,” commented Ben Groot, CFO of BBTV Holdings Inc. “We are hyper-focused on providing a comprehensive and innovative suite of solutions to help creators succeed.”

Fast Pay shrinks the pay period from 45 to 15 days following each month’s end, letting content creators get their current and next month of earrings at the same time. Those creators can leverage the funds to invest in more content if they choose.

Read more: TaskRabbit Takes On The Gig Economy’s Instant Payout Imperative

PYMNTS examined the drive by workers to get paid faster in a report last week on TaskRabbit. A 2020 survey showed that just 7% of companies using gig workers offered same-day payout options.

Meanwhile, 61% still used traditional payroll systems to process gig worker payments, meaning many of these workers struggle to find the flexibility to make work-related purchases, or even keep up with their bills.