Dating Apps Once Ran on Novelty. For Some Users, the Fun Is Over.

As online-dating apps court new and younger audiences, some of their marketing efforts are turning off daters instead.

Bumble last month apologised for ads making light of women so frustrated with online dating that they would consider celibacy. The League, a dating app targeting “the overly ambitious,” was called “ick-inducing” for its recent ad campaign, which included taglines like “Date someone with a 5-year-plan that makes you want to ovulate.” And Hinge’s years-long “Designed to Be Deleted” campaign has started to fall flat for longtime users still looking for love on their phones.

Online dating continues to play a lead role in the romantic lives of millions of Americans. Around half of all U.S. adults under 30 have used a dating site or app at some point in their lives, and one in 10 adults with partners say they met their significant other by dating online, according to Pew Research Center data. And the industry’s biggest players, Match Group and Bumble, now generate annual revenues north of $3.4 billion and $1.1 billion, respectively.

But the ad campaigns have high stakes for online dating companies trying to achieve the right mix of user acquisition and pricing power to re-interest Wall Street in a saturated sector.

Online-dating growth has been slowing. Paying users declined 6% in the first quarter of the year at Match Group, whose portfolio includes the League, Tinder and Hinge, compared with a 3% dip in the first quarter of 2023. The Bumble app grew paying users 18% in the first quarter, compared with 31% growth in the period a year earlier.

Shares in both have fallen this year even as the S&P 500 rose. And some singles have become perhaps as wary as investors.

Nearly half of all online daters and more than half of female daters say their experiences have been negative, according to Pew , and a growing tide of users are sharing their dissatisfaction in popular Facebook forums and on TikTok. People bemoan a perceived rise in bad dating etiquette such as “ghosting” and the sending of unsolicited sexual messages, and blame the way online romance makes it easier to discard potential partners at a touch of a button. “Hacks,” or tricks designed to game the apps for better dates, abound, demonstrating the shortcomings of their designs.

And the companies’ growing emphasis on pricier premium services is giving users new reasons to scrutinise the algorithmically driven path to romance.

Bumble made its name as a free app that only let women make the first move, for example. But since 2016, it has charged for advantages such as unlimited “swipes” to connect with prospects. The most expensive plan today costs $80 a month. Nonpaying users on Bumble and other apps can hit a limit, which some say leaves them taunted by the nagging fear that their perfect partners are hidden just on the other side of a paywall.

In this environment, new ad campaigns have become a release valve for the tension.

Lidiane Jones, CEO, Bumble, at The Wall Street Journal’s Future of Everything Festival in New York on May 21. PHOTO: GARY HE FOR THE WALL STREET JOURNAL

Failure to launch

Bumble users had hoped change was on the way after a teaser campaign depicted a discouraged dater joining a convent but happily leaving after being handed the Bumble app. “We’ve changed so you don’t have to,” one of the ads promised.

“At this point, it’s the app’s responsibility not to rebrand, but to pivot technologically,” said Michelle Khouri , the founder of creator platform Recordical , who has been using dating apps on and off for 10 years following her divorce from a man she met through online dating service eHarmony.

But Bumble’s big move wasn’t a fundamental overhaul: The company was letting women put questions on their profiles to which men they matched with could respond without a specific invitation.

Disappointment became backlash when the full ad campaign included billboards that declared, “Thou shalt not give up on dating and become a nun” and “You know full well a vow of celibacy is not the answer.”

Female daters often thinly disguise their dissatisfaction with modern dating by joking about giving it up for a life of spinsterhood, and Bumble had done what all marketers try to do—joined the conversation 

The problem for many was that Bumble’s quips about nunneries located the problem in daters’ resilience, as opposed to the dating apps themselves, and the unfavourable dating culture some users say the apps’ owners have been complicit in fuelling.

“Bumble was a brand that built its identity on empowering women and then they absolutely laughed in our faces,” said Michelle Wintersteen, the founder and chief executive of branding and marketing agency MKW Creative and a former Bumble user who grew frustrated by its paywalls.

Bumble took down the billboards and made several public apologies.

“We just made a mistake in how that landed. It was not good and we felt really terrible about it,” Bumble CEO Lidiane Jones said at a Wall Street Journal event last month.

Jones added in an emailed statement that the company is enhancing its internal and external review processes, and “actively engaging in conversations to ensure our marketing tone matches the 10 years Bumble has dedicated to championing women and creating safe, respectful, and empowering spaces for connection.”

Some online-dating executives and observers think the gripes with dating apps are largely an extension of age-old ennui over the search for lasting love.

“This is not a new phenomenon, and I think that dating apps have crystallised and brought those concerns to the fore, primarily because the prior institutions that were responsible for connecting individuals—such as family, friends, churches, other homes of worship—were not able to assume blame in the same way,” said Jess Carbino, a sociologist who has worked as a consultant for Bumble and Tinder.

Pickup lines

When the League introduced its “Be a GoalDigger” brand campaign in 2023, its first big marketing effort since being acquired by Match Group in 2022, some had visceral reactions.

“Whoever is behind this truly thought they were like, hitting Gen -Z, being super edgy and cool,” said the TikTok user who reported getting the “ick” from its campaign. “In reality, it is the most millennial, cringy thing that makes you want to actually convulse.”

The app has “never been afraid of speaking up or speaking out about the kind of people that The League attracts,” said Lisa Kraynak, senior vice president of marketing for the League, in a statement. In addition to its ad mentioning ovulation, others read: “Find Your Goal Mate” and “Date Someone With Big Goal Energy.”

“We know that we aren’t for everyone, and that is a core part of our value proposition,” Kraynak added, noting that a number of people responded well to it.

Unlike apps such as Tinder and Bumble, the League requires profile approval to join. On the app, users get three to five prospects a day unless they upgrade to become a paying member, which runs $99 a week or $399 for a three-month subscription. Once a match is made in the app, users have 14 days to initiate a conversation before the matches expire.

Fighting flakes

These components, as well as features such as a “flakiness score” indicating which users have a habit of matching but not chatting, are why Kraynak said the League is “designed to combat the dissatisfaction with apps today .”

Tinder has leaned away from the celebration of singledom that it embraced in a 2018 brand campaign that called single “a terrible thing to waste.” While the app has long been associated with hookups, the company has more recently emphasised the various relationships that can result from its app. Its marketing now romanticizes “a toothbrush at their place” and “comfortable silences,” all while it seeks to upsell users.

“It was about shedding a perception that was too narrow and not accurate,” said Melissa Hobley, chief marketing officer at Tinder.

Hinge, the Match Group brand that has long positioned itself as an app for finding relationships rather than hookups, continues to iterate on its “Designed to Be Deleted” campaign launched in 2019. The company has refreshed the campaign every year since then with the same tagline.

On social media, some dissatisfied users say they have deleted the app—not because they found love but because the app didn’t work for them. Hinge said every feature is designed to help daters be intentional and that it is looking for ways to address dating burnout.

Chief Marketing Officer Jackie Jantos said Hinge is the fastest-growing major dating app.

“‘Designed to Be Deleted,’ as an idea and a marketing program, continues to help us build our base of users,” Jantos said.

Match Group said Hinge’s direct revenue grew 50% in the first quarter of the year as paying members increased 31% and revenue per payer rose 14%. It offers two types of subscriptions, Hinge+ and HingeX, which start at $14.99 and $24.99, respectively, a week.

More recently, the company partnered with a social-media brand that interviews couples on the street, to circulate their love stories that involve Hinge.

“We know that our best growth comes from organic success stories of people meeting on Hinge,” added Jantos.

Americans Are All Over Europe This Summer. Here’s How to Outsmart the Crowds.

Who’s headed to Europe this summer? You and everybody else.

This year is shaping up to be a record one for American tourism to the Continent. The first five months of this year saw nearly 7% more trips by U.S. citizens to Europe compared with 2023, according to air traffic data from the International Trade Administration.

The crowds have continued as summer has officially kicked off. The top destinations from the U.S. to Europe this season are London, Rome, Paris, Athens and Amsterdam, according to ticket-sale data from Airlines Reporting Corp.

The European leg of Taylor Swift’s Eras tour and the Summer Olympics in Paris have given U.S. travellers extra reasons to visit. And airlines have added dozens of nonstop flights as travellers prioritise vacations abroad.

Travel executives and advisers gave the following tips to save money and headaches this summer:

Forget spontaneity

To combat the influx of visitors, major attractions like the Louvre museum have set daily visitor limits. Venice charges a five-euro fee for day-trippers on certain days through July 14, and the Acropolis in Athens now requires travellers to purchase tickets with predetermined entry times.

Travellers who don’t plan ahead can miss out on these sites, says Nora Blum, vice president at Travel Leaders in Maple Grove, Minn. “People love thinking they want to be free and to go with the flow,” but that’s inadvisable, she says.

While you’re purchasing ahead of time, Blum suggests looking into skip-the-line passes for popular attractions. They cost more but save time.

Don’t give up if the biggest draws are sold out. Instead, check for promotions from the city. In Spain, passes to the Alhambra fortress in Granada sell out quickly. But the city sells a tourist pass that guarantees entry to some of the most popular monuments, as well as trips on public transit.

Barcelona, Rome and the Greek island of Santorini are among the destinations with popular cruise ports. They list scheduled cruise arrivals and the number of passengers on board. Checking the schedule, even if you’re not on a cruise, can help you plan your day to avoid long waits and big crowds, says Margi Arnold, owner of Creative Travel Adventures in Denver.

She suggests getting up early to visit the most popular attractions or traveling to areas that are harder to reach during day trips.

Dinner reservations often make sense in crowded tourist cities, especially for families or larger groups. Some veteran travelers recommend downloading WhatsApp. Many restaurants will correspond over the free messaging app regarding reservations.

Prep for disruptions

It’s common for rail and airport workers to strike . These actions are announced in advance, so travel advisers suggest checking schedules ahead of time to see how you might be affected.

Regardless of strikes, delays can occur because of air-traffic control, weather or other scheduling issues. Before you depart, download relevant apps for flights and trains and sign up for alerts so schedule changes don’t catch you off-guard.

International airports are no place for cutting it close, since options for expedited security screening are limited. Travellers can reserve a time to go through security at six international airports through Clear Reserve , a free service. London Heathrow and Frankfurt Airport in Germany are some of the airports that take reservations.

And read up on rules for liquids. Heathrow requires travellers to remove liquids and put them in clear, resealable bags provided at the checkpoint.

When you return to the U.S., try using mobile passport control , a free app that lets you speed up entry into the country. Travel advisers also recommend taking photos of your passport in case it gets lost.

Keep the heat in mind

Europe is facing another scorching summer. Check whether your lodging has air conditioning—it isn’t a standard offering in many regions, says Arnold, the travel adviser.

Travellers should also bring water bottles and plan breaks indoors during the hottest parts of the day, she says.

Check your health insurance policy

Medicare and Medicaid don’t cover international medical bills. Some private insurances won’t cover all expenses, either.

Before you depart, check your policy and consider buying travel health insurance to avoid pricey charges in a medical emergency.

Bring the right credit card

Travel with a credit card that doesn’t charge foreign transaction fees. Many cards can add charges of 3% or 4% per transaction.

Not every vendor accepts American Express , though it is becoming more available in Europe.

Consider the Olympics

It isn’t too late to attend the Paris Olympics, though it’s not necessarily a cheap ticket. About 30% of hotel rooms in Paris are still available, according to Hotels.com, with the average rate of $455 a night during the Olympics. In Paris, available nightly rates for short-term rentals are averaging $481 a night during that stretch, according to AirDNA, a market-research firm.

Each Thursday, new Olympics event tickets go on sale at 10 a.m. local time—yes, that’s 4 a.m. Eastern—as part of a promotion called Ticketing Thursday. There are also official resale tickets available .

New York Watch Auctions Record Uptick in Sales in the Face of Market Slowdown

Luxury watch collectors showed ongoing strong demand for Patek Philippe, growing interest in modern watches and a preference for larger case sizes and leather straps at the June watch sales in New York, according to an analysis of the major auctions.

Independent and neo-vintage categories, meanwhile, experienced declines in total sales and average prices, said the report from  EveryWatch, a global online platform for watch information. Overall, the New York auctions achieved total sales of US$52.27 million, a 9.87% increase from the previous year, on the sale of 470 lots, reflecting a 37% increase in volume. Unsold rates ticked down a few points to 5.31%, according to the platform’s analysis.

EveryWatch gathered data from official auction results for sales held in New York from June 5 to 10 at Christie’s, Phillips, and Sotheby’s. Limited to watch sales exclusively, each auction’s data was reviewed and compiled for several categories, including total lots, sales and sold rates, highest prices achieved, performance against estimates, sales trends in case materials and sizes as well as dial colors, and more. The resulting analysis provides a detailed overview of market trends and performance.

The Charles Frodsham Pocket watch sold at Phillips for $433,400.

“We still see a strong thirst for rare, interesting, and exceptional watches, modern and vintage alike, despite a little slow down in the market overall,” says Paul Altieri, founder and CEO of the California-based pre-owned online watch dealer BobsWatches.com, in an email. “The results show that there is still a lot of money floating around out there in the economy looking for quality assets.”

Patek Philippe came out on top with more than US$17.68 million on the sale of 122 lots. It also claimed the top lot: Sylvester Stallone’s Patek Philippe GrandMaster Chime 6300G-010, still in the sealed factory packaging, which sold at Sotheby’s for US$5.4 million, much to the dismay of the brand’s president, Thierry Stern . The London-based industry news website WatchPro estimates the flip made the actor as much as US$2 million in just a few years.

At Christie’s, the top lot was a Richard Mille Limited Edition RM56-02 AO Tourbillon Sapphire
Richard Mille

“As we have seen before and again in the recent Sotheby’s sale, provenance can really drive prices higher than market value with regards to the Sylvester Stallone Panerai watches and his standard Patek Philippe Nautilus 5711/1a offered,” Altieri says.

Patek Philippe claimed half of the top 10 lots, while Rolex and Richard Mille claimed two each, and Philippe Dufour claimed the No. 3 slot with a 1999 Duality, which sold at Phillips for about US$2.1 million.

“In-line with EveryWatch’s observation of the market’s strong preference for strap watches, the top lot of our auction was a Philippe Dufour Duality,” says Paul Boutros, Phillips’ deputy chairman and head of watches, Americas, in an email. “The only known example with two dials and hand sets, and presented on a leather strap, it achieved a result of over US$2 million—well above its high estimate of US$1.6 million.”

In all, four watches surpassed the US$1 million mark, down from seven in 2023. At Christie’s, the top lot was a Richard Mille Limited Edition RM56-02 AO Tourbillon Sapphire, the most expensive watch sold at Christie’s in New York. That sale also saw a Richard Mille Limited Edition RM52-01 CA-FQ Tourbillon Skull Model go for US$1.26 million to an online buyer.

Rolex expert Altieri was surprised one of the brand’s timepieces did not crack the US$1 million threshold but notes that a rare Rolex Daytona 6239 in yellow gold with a “Paul Newman John Player Special” dial came close at US$952,500 in the Phillips sale.

The Crown did rank second in terms of brand clout, achieving sales of US$8.95 million with 110 lots. However, both Patek Philippe and Rolex experienced a sales decline by 8.55% and 2.46%, respectively. The independent brand Richard Mille, with US$6.71 million in sales, marked a 912% increase from the previous year with 15 lots, up from 5 lots in 2023.

The results underscored recent reports of prices falling on the secondary market for specific coveted models from Rolex, Patek Philippe, and Audemars Piguet. The summary points out that five top models produced high sales but with a fall in average prices.

The Rolex Daytona topped the list with 42 appearances, averaging US$132,053, a 41% average price decrease. Patek Philippe’s Nautilus, with two of the top five watches, made 26 appearances with an average price of US$111,198, a 26% average price decrease. Patek Philippe’s Perpetual Calendar followed with 23 appearances and a US$231,877 average price, signifying a fall of 43%, and Audemars Piguet’s Royal Oak had 22 appearances and an average price of US$105,673, a 10% decrease. The Rolex Day Date is the only watch in the top five that tracks an increase in average price, which at US$72,459 clocked a 92% increase over last year.

In terms of categories, modern watches (2005 and newer) led the market with US$30 million in total sales from 226 lots, representing a 53.54% increase in sales and a 3.78% increase in average sales price over 2023. Vintage watches (pre-1985) logged a modest 6.22% increase in total sales and an 89.89% increase in total lots to 169.

However, the average price was down across vintage, independent, and neo-vintage (1990-2005) watches. Independent brands saw sales fall 24.10% to US$8.47 million and average prices falling 42.17%, while neo-vintage watches experienced the largest decline in sales and lots, with total sales falling 44.7% to US$8.25 million, and average sales price falling 35.73% to US$111,000.

The Crazy Economics of the World’s Most Coveted Handbag

You could double your money in five minutes by buying a Birkin handbag at your local Hermès boutique and then flipping it. But getting your hands on the world’s most sought after purse is a lot more complicated than it sounds.

A basic black leather Birkin 25 costs $11,400 before tax at the Hermès store. Buyers can walk out and immediately give it to a handbag reseller like Privé Porter in exchange for $23,000 in cash. Privé Porter will then sell the Birkin on Instagram or at its Las Vegas pop-up store, possibly on the same day—box fresh, with receipt—for up to $32,000. All this for a bag that analysts estimate costs Hermès around $1,000 to make.

The unusual economics of the Birkin have upended the normal balance of power between shopper and store worker. At the Hermès boutique, it is the buyer who kowtows. Some of the wealthiest women in the world have brought homemade cookies to the store to cozy up to their sales assistant. They have offered tickets for Beyoncé concerts, trips to the Cannes Film Festival in a private jet and even envelopes stuffed with cash—all to get their hands on a Birkin.

Shoppers also spend tens of thousands of dollars on Hermès products they might not particularly want, such as an $87,500 canoe, to be in the running for a rare purse.

The Birkin turns 40 this year and is maturing into a phenomenon. To carry one is to signal that the wearer can afford to drop anywhere from $10,000 to $100,000 on a handbag. It appeals to the limelight-seeking Kardashians, who own extensive collections, but also to European Central Bank President Christine Lagarde , who is often photographed on her way to meetings carrying a Birkin.

The purse anchors the Hermès founding family’s $150 billion fortune. But they aren’t the only ones getting rich: An army of unofficial flippers all over the world profit from reselling the purse.

The Birkin first hit shelves in 1984, a couple of years after the late actress Jane Birkin and Jean-Louis Dumas, then chief executive of Hermès, met on a flight to London. After complaining that she couldn’t find the right-size handbag, the two sketched out a design together—on a drink napkin or an Air France sick bag, depending on the retelling. In return for lending her name to the new product, Hermès paid Birkin an annual royalty.

The story about the bag’s creation is part of its appeal and one of the reasons why competitors have found it hard to replicate its success. “It’s a great narrative,” said David Dubois, associate professor of marketing at the business school Insead. Shoppers like the “serendipity of the meeting” and that a woman who was admired for her style had a direct hand in its design.

The purse didn’t take off right away. During the early 1990s, shoppers could walk into an Hermès boutique and buy one off the shelf. Birkins weren’t reselling for more than their original price tag back then.

But something shifted in the years after the 2008-09 financial crisis, according to Matthew Rubinger, now chief commercial officer at the online marketplace 1stDibs and one of the first people to recognise the Birkin’s resale potential. Rock-bottom interest rates meant more money was sloshing around, and it began to find its way into alternative assets.

It also became bad taste to wear a new “it bag” every season when the economy was on the ropes. This played to the strength of no-logo designs like the Birkin. Rubinger established the handbag departments of both Heritage Auctions and Christie’s and built them into multimillion-dollar businesses. When rare Himalaya Birkins began to set records at auction, people took notice.

“Once they started getting above $100,000, things got more serious,” he said.

Today, shoppers who want a Birkin at the Hermès store must jump through hoops. First, they need to establish a good rapport with one of the brand’s sales assistants. The next step is to spend serious cash on other goods, such as silk scarves, watches and shoes, to “qualify” for a bag, according to Birkin collectors.

When a shipment of Birkins arrives at an Hermès store from France, the leather-goods manager assigns the purses to individual sales assistants, all of whom have a list of wealthy clients waiting to be offered a bag. The sales assistant must make a case for which individual on that list deserves to be offered a Birkin and get the manager’s approval.

This has created a perception among Hermès shoppers that the biggest spenders get access to Birkins first. Hermès is being sued in a California court by two wounded shoppers who allege that the brand only sells Birkins to “worthy” customers and makes purchases of the bag conditional on buying other items at the store. Hermès said in a recent court filing that it doesn’t require customers to buy other products before getting one of the coveted bags.

Just how much do shoppers need to drop to be offered a bag? Birkin collectors say that there is no hard rule but that most people can expect to shell out $10,000 or more on Hermès scarves, shoes and clothes before they will be offered a basic Birkin. To get a rare bag like the Himalaya Birkin, they might need to spend $200,000 or more.

This is known as the Hermès “prespend” or the “spend ratio” in Birkin-collecting circles. Hermès never spells this out explicitly, nor has it ever used these terms. But Birkin hopefuls say they have been told by their sales assistants that they need to visit the store more often. Resellers say that Hermès sales assistants don’t make commissions on Birkins, but that they can leverage hunger for the bag to sell other products for which they are rewarded.

Even after spending tens of thousands of dollars, Birkin hunters might not be offered the size or colour bag they want. This creates a golden opportunity for resellers.

Say a woman who shops regularly with the brand wants a red Birkin but is offered green. Rather than appearing ungrateful—because it is important to keep the sales assistant on her side in the Birkin-hunting game—she will buy the bag, knowing it can be sold to a reseller for a profit and hope to get the red later.

Hermès knows its top clients are flipping the bags. Read the fine print on a Birkin receipt, and the company asks that its customers will not, “directly or indirectly, resell Hermès products purchased in our boutiques for commercial purposes.” No Hermès shopper was willing to go on the record for this article about the experience of flipping the bags to a reseller, out of concern over being blacklisted by the brand.

The resale market has become a kind of “buy-now button” for Birkins, said Michelle Berk, founder of Privé Porter. Some shoppers are willing to pay a big premium to get their hands on a Birkin immediately, in the exact color they want. They might not have the patience for the steps needed to secure one of the bags at the Hermès store.

In the past, resellers recruited flight attendants or polished overseas students to buy Birkin bags in Hermès stores all over the world in return for a fee. Now, the flippers get most of their supply from Hermès’s VIP customers. They also get Birkins by trading with their peers on WhatsApp. If clients are looking for a size or colour that one seller doesn’t have in stock, they can put out a call on the resellers’ group chat to see if anyone has that model.

One way Birkin hunters can accelerate an in-store purchase is by splashing out on the brand’s furniture or fine jewellery, said Judy Taylor, founder of Madison Avenue Couture and a handbag reseller for 15 years.

They can pick up an $8,000 paper basket for the home office, a $70,000 gold bracelet or a $140,000 sofa. Taylor said Hermès’s sales in categories like fine jewellery or watches, where the brand isn’t known for its expertise, are at least partially driven by Birkin hunters.

“No offence to Hermès, but if you can buy a necklace from Van Cleef for the same price as Hermès, you’ll likely go to Van Cleef,” she said.

Really big spenders are offered bespoke goods. Hermès does a sideline in special-order skis, skateboards and fishing gear for superwealthy clients and can customise the interior of a yacht or chopper. Privé Porter’s Berk received a message from a customer who was offered an $87,500 canoe. These buyers get access to the rarest Birkins.

An unusually large amount of new Hermès inventory ends up for sale in the secondhand market—another sign that Birkin mania might be driving sales of products that customers don’t really want. Of all the nonhandbag Hermès items on The RealReal , 35% are in pristine condition, according to data supplied by the luxury resale website. The average for other designers on The RealReal, including Louis Vuitton, Gucci, Prada, Bottega Veneta and Saint Laurent, is 20%.

The Birkin’s popularity is very flattering for Hermès and might also help the company to keep its marketing budget low. It doesn’t need to promote itself when celebrities can be relied upon to freely splash photos of their bags on social media. In 2023, Hermès reinvested 4% of its sales back into promotions, compared with 12% at crosstown rival LVMH Moët Hennessy Louis Vuitton.

But the circus does cause problems for Hermès. Last year, the company had to fire staff at its Miami Design District store after some customers got more than their official allocation of Birkins, according to sources. Collectors say Hermès only allows two bags a year per individual, but employees might have been helping shoppers to get around this.

Shoppers and resellers have tried to bribe their way to Birkins. Hermès has strict rules about what customers can and can’t give sales assistants as gifts. Well-behaved Birkin hunters give goods that can be handed over openly at the store and shared among employees—hence the home-baked cookies. Trays of baklava are another go-to.

Hermès doesn’t like the flipping, but stamping out the resellers would harm the brand’s own interests. The company raised prices of its exotic-skin Birkins by around 20% in January. Resellers think the move was aimed at squeezing profits in the secondhand market, but it hasn’t worked. Dealers passed on the increase to their customers without a hitch.

Hermès could increase production and flood the market with new bags. This would end the financial incentive to resell Birkins, but it would also destroy their mystique.

Why are women— and increasingly men , too—so hungry for the Birkin? One justification for spending huge sums on a handbag is that the Birkin is a good investment. Except, it isn’t really. Any profit on reselling a bag purchased in store will be lower after factoring in the thousands of dollars spent on other goods to qualify.

A bag sourced from a reseller or on the block at Christie’s has limited upside because a hefty markup is factored into the price. A Birkin bought at auction in 2010 would sell for around 50% more today, according to Art Market Research data. Contemporary art, watches and classic cars have all performed better. Hermès’s own stock has been a much smarter investment than the Birkin, rising more than 20-fold since 2010.

Shoppers seem to lust after the Birkin because it is rare, expensive and well made. There is no better status symbol for those who want to display their wealth. And the hunt involved in getting one might be the whole point. Wealthy shoppers tolerate waiting at the Hermès store in a way that wouldn’t be acceptable in other areas of their lives.

Even how a person treats the Birkin has turned into a kind of code. Some collectors store them in glass display cabinets, hardly ever using them. This preserves their resale value.

But the supermodel Irina Shayk was photographed last year carrying her dog in a black crocodile Birkin. According to Sasha Skoda, The RealReal’s vice president of merchandising, the subtext to the “messy Birkin” trend is that you have to be seriously rich to treat a $40,000 handbag this casually. Jane Birkin was also hard on her bags, covering them with political stickers and tying charms around the handles. One of her weathered black Birkins sold at auction for £119,000 in 2021, around $150,000 at current exchange rates.

Rival luxury brands are trying to come up with challengers. Louis Vuitton recently launched a $1 million handbag. Chanel has almost doubled the price of its classic flap purse in four years to make it more exclusive.

For now, though, the reign of the Birkin looks secure. If you want to own one, better dig deep at the Hermès store.

—Herme`s Birkin bag provided by The RealReal.

Why It’s Easier Than You Think to Score a Coveted Table When Visiting Paris for the Olympics

Savvy travellers who plan their trips around dining at their destination’s most in-demand restaurants know that securing a reservation at a top Paris eatery isn’t an easy proposition on any given day.

Come the Olympics in July, when the city is flooded with tourists, one would expect the jockey sport to snag a table to be that much more intense. But that’s not necessarily shaping up to be the case. As of mid-May, Parisian insiders such as hotel managers, restaurant owners, and local luxury concierges reported that inquiries at sought-after spots were no higher than usual, foretelling a potential opportunity for visitors looking for a fine-dining experience during the games.

The time to book falls over the next few weeks given that many top spots don’t take reservations until one month before the dining date.

The Michelin-starred Jean Imbert Au Plaza Athenee and Le Relais Plaza, both at Hotel Plaza Athenee and helmed by the renowned French chef Jean Imbert, are two examples.

Francois Delahaye, the COO of the Dorchester Collection, a hospitality company that includes the Plaza Athenee and a second Paris property, Le Meurice, says that his regular guests who are visiting for the games and Parisians who frequent the restaurants know not to call too far in advance of when they want to dine.

Further, he doesn’t foresee reservations being a challenge at either venue or at Le Meurice’s two-Michelin-starred Restaurant Le Meurice Alain Ducasse.

“Booking for the restaurants won’t be an issue because people are planning meals at the last minute,” Delahaye says. “Also, the people who are in Paris specifically for the Olympics are here for the games, not to eat at restaurants. They’re not the big-spending clientele that we usually get.”

Delahaye doesn’t expect the kinds of peak crowds that descend on fine dining during Fashion Week each spring and autumn, for example, when trying to land a seat at the three eateries is nearly impossible. “People are fighting to get in,” he says. “You need to book through your hotel’s concierge, have an inside source, or be a hotel or restaurant regular.”

Several Paris luxury concierge companies echoed Delahaye’s perspective

Manuel de Croutte, the founder of Exclusive & Private, says that Paris regulars probably aren’t planning a trip when the Olympics transpire—from July 26 to Aug. 11—because they want to avoid the tourist rush. “We’ve gotten some reservation requests from people who’ve heard about us but not nearly as many as we usually get when the very wealthy travellers are here,” he says.

During peak periods like the French Open or Fashion Week, de Croutte says that his job entails making bookings for travellers who don’t have any other way to get into buzzy or Michelin-starred establishments.

“You’re unlikely to get a table at a see-and-be-seen place without knowing someone,” de Croutte says. “No one picks up the phone or answers email.” He says his team has established relationships with managers and owners of many of the hot spots in Paris and often visits them in person to land tables.

Exclusive & Private’s Black Book of Paris restaurant recommendations for Olympic visitors span a broad range, from casual bistros to fine-dining.

Michelin eateries include the three-star Le Gabriel at La Reserve, the two-star Le Clarence near the Champs-Elysee, and the two-star Le Taillevent.

Spots without a Michelin star but equally notable are also on de Croutte’s list: L’ Ami Jean offers traditional and flavourful southwestern French cuisine, Allard is a brasserie from Alain Ducasse, and Laurent serves French food to a fashionable set.

“My favourite neighbourhood for restaurants is Saint Germain de Pres,” de Croutte says. “You’ll find unassuming but chic names with excellent food and a great vibe. You can book with these places directly if you’re here for the Olympics, but don’t wait until the last minute because they will get filled.”

He also cautions that some Paris eateries are asking for nonrefundable prepayments for reservations during the Olympics.

“Be sure you want to go before committing and ask about the refund policy if you are charged,” he says.

Stephanie Boutet-Fajol, the founder of Sacrebleu Paris, says her bespoke travel company charges a lump sum of about US$750 to make all the restaurant bookings for the Olympic period, though the price varies depending on the dates and the number of restaurants that a client requests. “Reservations around the closing ceremony are harder to come by because that’s when more elite travellers are coming to Paris and want the chic restaurants that are always difficult to get a table at,” she says.

Meanwhile, chefs at some Michelin-starred restaurants share that they have tables available during the Olympics and welcome travelers to their establishments.

Thibaut Spiwack, for one, behind the Michelin-starred Anona, serving modern French cuisine, and the culinary consultant for the popular Netflix series Emily in Paris , says that he is open for reservations.

“My team and I look forward to sharing a culinary experience with new clientele that I hope will remain in their memory,” he says.

Spiwack suggests that travellers check out other worthwhile restaurants where he himself dines. For terrific wine, there’s Lava, and for Italian, he likes Epoca where the pastas are “divine.” Janine is the best bistro in town, and Prima wins for a pizza fix, he says.

“You have a lot of restaurants in Paris to pick from,” Spiwack says. “You just need to determine where you want to go, and book as soon as you can.”

Do You Have What It Takes to Be a ‘Personality Hire’?

If you get further on charm than skill and carry a workload light enough to float atop your bubbly demeanor, then you might be a “personality hire.”

Charismatic employees lay the foundations of positive corporate cultures—or leave teammates to pick up the slack. While some people proudly advertise themselves as personality hires on LinkedIn, others roll their eyes.

“It’s annoying,” says Lauren Gomes Atwood , a project manager in upstate New York. “They always have time to hang out in the hallway, but when do they sit down and work?”

Atwood, 39 years old, says she worked with a personality hire in a previous job. Though fun to be around, the person eventually generated resentment and, after winning a promotion , prompted several co-workers to quit, she says.

Atwood started a remote job last month and says her search took longer than expected, partly because interviewers seemed as interested in her vibe as they were in her experience. She describes herself as matter-of-fact and says she doesn’t give off the effervescence some employers appeared to be looking for.

Bosses want the warm-and-fuzzies as the mood at work is generally sour . One-third of U.S. employees say they’re engaged in their jobs—near an all-time low, according to Gallup’s annual report on the state of the workforce, released this month. Half of workers say they feel a lot of stress, and 49% are interested in new job opportunities or actively applying.

With so many lonely, unhappy charges, bosses are desperate for good workplace energy. They say camaraderie is hard to build on hybrid schedules, so they prize upbeat employees whose energy is (hopefully) infectious.

Michael Zachary , a security manager at Pratt & Whitney, says he learned the value of a winning disposition in the Navy. He noticed qualities like collegiality and willingness to learn often proved more critical to new recruits’ success than natural talent.

Certain roles at the defence contractor where he works now are highly specialised and must be filled by the most technically qualified candidates, he says. But others, like data-entry clerks, could be performed adequately by dozens of applicants.

“In that case, I’m going to hire the nicest person to be part of the group,” says Zachary, 38.

Meme to management strategy

The concept of a personality hire—like quiet quitting and lazy-girl jobs before—crystallised on social media. Few have captured the essence better than comedian Vienna Ayla, who plays a Miss Congeniality type in skits that have been viewed tens of millions of times on TikTok and Instagram.

The running joke is that her all-style-no-substance character contributes nothing, until she becomes a hero through schmoozing. In one bit, she gets her team a deadline extension by buttering up the chief executive. In another, she calls in a favour from the mayor, who happens to be her workout partner in an “ass and abs” exercise class.

Ayla, 27, tells me she hears from viewers who work with people like her character. Many feel frustrated, while others concede that personality hires can prove their worth in key moments, despite their lack of hustle.

“I kind of admire that type of person who doesn’t get so worked up but still manages to save the day,” says Ayla, who describes her real-life persona as type A.

Businesses don’t want caricatures, but many judge applicants differently than they did during hiring sprees a couple of years ago, says Brian Vesce , co-founder and CEO of RefAssured, a candidate-reference startup.

Skill was king during the talent war of 2021 and 2022, but recent layoffs suggest a lot of companies believe they have enough, or even too many, capable employees.

“We are seeing more employers looking for the right personality when a role opens up,” Vesce says.

Sensing the shift, he launched RefAssured last year in an attempt to measure characteristics in job candidates that are often called “intangibles.” Using the company’s software, references answer a series of questions about how an applicant communicates, handles stress, takes feedback and manages conflict. The responses yield a candidate’s soft-skill rating on a five-point scale.

Customers include 10 of the country’s 100 largest staffing agencies, Vesce says, and he expects to triple that total by year-end.

Red flag or badge of honour

Personality hires are a growing presence in tech, as efficiency-minded companies seek engineers who can also make time with customers, says Lorde Astor West , founder of RadHash, which makes back-end software for startups. But people who excel at gabbing about technology products usually aren’t the best coders, in her experience.

“The life of the party might be an individual who isn’t as capable, and now you have other team members who are having to make up the difference and fix mistakes,” she says.

Astor, 49, leads a team of about 100 employees and contractors and says she’s developed an appreciation for the snippy or introverted people who get things done. Give her a pricklebush over a personality hire any day.

Others wear the personality-hire label proudly. They say keeping their energy up takes effort and makes people around them better.

Danielle Norris calls herself a “personality hire meets hard work” on LinkedIn. She tells me emotional intelligence is among the top qualities she brings to her role as a marketing manager at the Jonus Group, a recruiting firm for insurance and finance companies. In meetings, she says she’s able to sense when a colleague is hesitant to share an idea and can help put that person at ease with a smile or encouraging word.

That leads to greater collaboration and results, according to Norris, 32.

“I bring the vibes,” she says. “I’m always looking to have a good time, but I’m still able to drive my team to success.”

Thousands of Australian companies on the brink of going into administration as EOFY nears

More than 10,000 companies are expected to have entered external administration by the end of the 2024 financial year, a level not seen for more than a decade. Data just released by the Australian Securities & Investments Commission (ASIC) shows 1,245 companies became insolvent in May, the highest monthly number this financial year. At present, a total of 9,988 businesses have gone bust in FY24 with data from June yet to be finalised.

Deloitte Access Economics Partner David Rumbens said the surge in business insolvencies this year was a “clear sign of economic distress”.

He commented: “[ASIC] predicts that by the end of the financial year, the number of companies entering external administration will likely exceed 10,000 – a level not seen since 2012-13, in the aftermath of the Global Financial Crisis (GFC).”

Mr Rumbens said the elements contributing to this year’s surge in insolvencies include high inflation and interest rates, weak consumer spending, and the commencement of more proactive tax debt collection activities by the Australian Taxation Office (ATO).

“One of the key factors contributing to this surge in insolvencies is the [ATO] pursuing debts that were previously put on hold during the COVID-19 pandemic,” he said.

Mr Rumbens cited ATO figures showing collectable debt rose 89 percent in the four years to June 2023. This has particularly impacted small businesses, which account for approximately 65 percent of the total debt owed at about $33 billion. “But more strictly enforced debt collection is coming at a time of tough economic conditions. High interest rates and cost-of-living pressures have weakened consumer spending, particularly in more discretionary components of spending.”

The construction sector has seen the highest number of insolvencies by far in FY24, mirroring the trend of FY23. Of the 9,988 insolvencies to date, 2,711 of them are in the building sector, which faces several challenges. These include a substantial lift in the cost of construction materials that is well above inflation and has made many fixed-price contracts signed within the past few years unprofitable. There is also a significant labour shortage that is delaying new home completions and new project starts, and also adding higher costs to projects.

“The construction sector has been hit particularly hard, with construction firms leading industry insolvencies in every quarter since mid-2021,” Mr Rumbens said. “They have accounted for approximately 25 percent of all insolvencies during this period. The residential construction sector is already facing a backlog of projects to complete as a result of skills and material shortages in recent years, and increased insolvencies in the sector may only exacerbate the problem of housing shortages.”

The ASIC data shows the next biggest industry affected is ‘other services’, which includes a broad range of personal care services such as hair, beauty, dietary, and death care services. The sector has seen 939 insolvencies in FY24. Retail trade is next with 687 insolvencies, followed by professional, scientific and technical services with 585 insolvencies.

“The food & accommodation sector has also experienced a wave of insolvencies. High input costs, worker shortages, and weak consumer sentiment have put pressure on businesses. Specifically, in March, cafés, restaurants, and takeaway businesses accounted for 5.5 percent of total business insolvencies, the highest proportion in the last three years.”

Mr Rumbens pointed out that while the number of insolvencies was high, it represents a lower share of the business sector at 0.33 percent than it did in FY13 when it was 0.53 percent. “This reflects the increase of registered companies in Australia, which has risen from just over two million to 3.3 million since 2012-13. Even so, the continued lift in insolvencies since 2021 highlights the difficult conditions many businesses face at present.”

 

 

Belle Epoque Estate Lists in France’s Fragrant Perfume Capital

A historic Belle Epoque villa in the Provencal town of Grasse, known as the perfume capital of the world, listed for €3.4 million (US$3.64 million) earlier this month.

Known as La Rivolte, the eight-bedroom villa occupies a 1.8-acre hillside site above the old town of Grasse, filled with olive groves and citrus trees, and offering dramatic views of the Mediterranean Sea. The city is still filled with perfumeries, and surrounded by flower fields growing jasmine, iris, geraniums, orange blossom and roses, that supply some of the world’s most well-known perfumes, including Chanel No. 5.

The villa was built in the 1880s at the height of Grasse’s renown as the centre of the perfume industry, and had a string of prominent owners and residents, including wealthy Grasse perfumer and the first Russian to win a Nobel Prize for Literature.

 

Most recently, it was owned by the Usborne family, who purchased it in the 1990s. The London-based family spent many summers in the South of France, but are looking to sell now that patriarch Peter Usborne has passed, according to his son, Martin Usborne.

“It has a very romantic and a very unique character that when we looked for houses to buy, this one jumped out as being incredibly authentic and with incredible views extending over the whole Bay of Cannes,” Usborne said. “We fell in love with it.”

The home, which spans 3,267 square feet over several floors, maintains its original charm with tiled floors, Juliet balconies, and large windows to take in the views, along with ample terraces, gardens and a pool deck.

Peter Usborne, the owner of children’s book publisher Usborne Books, bought the property from a perfumer and renovated it in keeping with the traditional provencal style. Like the owners before them, they rented out the home and used it themselves, which meant it was kept up to date.

“The property is really beautiful with a magical view to the seas, but not a ten minutes walk from the old city of Grasse,” said Tamara Bourdin of Côte d’Azur Sotheby’s International Realty, who is marketing the property with Tarik Bouchenak.

The villa’s unique yellow-ochre facade holds a clue to its history. It matches the nearby Grand Hotel Grasse, a neoclassical masterpiece built around the same time, when the city was gaining some acclaim as a winter destination to rival more popular resort towns like Cannes and Nice.

In fact, the man who built the house, a jeweller named Gustav Roquier, purchased the site from the Cresp family, a prestigious local perfuming dynasty in 1882, likely as an investment—with the intention of renting it out to wealthy vacationers, according to Ruth Midgley, a local historian hired by the Usborne family. (It was described as an “alluring and comfortable villa aimed at winter visitors,” in a local newspaper in 1903.)

There is some reason to believe that Roquier might have commissioned the same Cannes architects who built the Grand Hotel to design his own villa, given some of their similarities, but there’s no direct evidence, per Midgely.

Roquier had good reason to believe in the value of his property. Soon after La Rivolte was completed, Baroness Alice de Rothschild built her own—much more extravagant—home on an adjacent lot, called Villa Victoria in honour of her friend, the British Queen, according to the historian and the Rothschild Archives. And in 1891, the Grand Hotel hosted Queen Victoria herself when she came to visit her friend Alice.

The property stayed in the Roquier family for four generations, until 1949, and it was alternately rented out or utilized by the family. Among its notable tenants was Ivan Bunin, the first Russian writer to win a Nobel Prize for Literature in 1933, for an autobiography written while he lived at the villa. “We often get stray Russian tourists coming up the drive because it was the home of the first Nobel-prize winning Russian author,” said Usborne. “He is a household name in Russia.”

Grasse never did become the tourist destination Roquier had hoped for, but it draws plenty of visitors both for its Mediterranean climate and old-world charm, as well as its continuing legacy as the perfume capital of the world.

While the Usbornes have many happy memories there, it’s become too much for Martin and his sister, both of whom are also in publishing, to keep up with the maintenance, he said.

“It needs a refresh inside, but the actual owners used to rent it for like 10 or 15 years, so the property is fully equipped,” said Bourdin. “All the bedrooms are ensuite so it’s well equipped for modern living, but it needs a bit of makeup inside.”

Celebrations Big and Small Are Getting Longer and More Extravagant for the Rich

Milestone birthdays and anniversaries, weddings, and graduations are momentous life occasions that some like to mark with large and elaborate celebrations.

And the deep-pocketed set are still in catch-up mode after a party-throwing standstill during the pandemic that went on for many months during the height of the lockdowns and social distancing. Bashes since then have become ever more extravagant and experiential—mere get-togethers, they’re not.

Hosts are also seeking any excuse to throw an event and having parties with the same “wow” factor for far less significant reasons, or for micro-occasions as they’re called, and even “just because,” according to luxury event planners who work with this elite set.

Colin Cowie, a planner based in New York and Miami who regularly orchestrates multimillion-dollar gatherings and was behind Jennifer Lopez’s and Ben Affleck’s wedding, calls it the “event revolution.”

“Large-scale events have become the norm,” Cowie says. “The wealthy, who are used to celebrating their life moments in a big way couldn’t do anything during the pandemic and are now going all out for anything they host.”

His company, Colin Cowie Lifestyle, plans 30% more events today than pre-Covid and has a lineup booked for the next two years. An example includes an upcoming million-dollar dinner party in the Hamptons simply to socialise with friends. It’s an affair with free-flowing Dom Perignon, centre-cut filet mignons, and unlimited caviar.

Colin Cowie Lifestyle plans 30% more events today than pre-Covid
Calen Rose

Other high-end planners also attribute the rise of over-the-top celebrations to a “live life to the fullest” attitude that’s become prevalent in the last few years. But they say that these parties aren’t necessarily about spending more than before—rather, they’re increasingly creative, thoughtful, and, with respect to weddings, longer.

Lynn Easton, a Charleston-based planner, says that her typical wedding used to span two days and entailed a rehearsal dinner plus the wedding itself. “Now, it’s a five-day bonanza with events like a groomsman lunch,” Easton says.

Easton also plans glitzy milestone birthdays such as one for a 60th where the host flew 60 friends and family to a private island. Dinners were multi-hour affairs in various locations around the isle with the showpiece being a five-course meal where the food was presented on dishes that were hand-carved in ice.

Another planner, Victoria Dubin, based in New York and Miami, says that, in a new precedent, the weddings she’s tapped to design kick off with striking welcome meals. She recently planned an al fresco rehearsal dinner at the Brooklyn pizzeria Roberta’s that recreated a Tuscan garden. Elements included potted herbs, lemon trees, vintage olive oil cans, ceramic plates, and table cards presented with palm leaves in limoncello cans.

Another planner, Victoria Dubin, recently planned an al fresco rehearsal dinner at the Brooklyn pizzeria Roberta’s that recreated a Tuscan garden.
Aletiza Photo

Pashmina shawls hung from chairs to keep guests warm, and freshly baked pizzas and Aperol spritzes were in ready supply throughout the evening.

Stacy Teckin, the groom’s mother, hosted the party with her husband, Ian, and says she sought to pull off a dinner that made an impression on their guests. “The wedding was delayed because of Covid, and now that we had the chance to celebrate, we wanted to go all out,” Teckin says. “I’m not sure we would have done that before.”

In another example, acclaimed planner Norma Cohen threw a wild safari-themed bar mitzvah for a client.

A four-day wedding in Paris where the ceremony was in a historic chateau and the host paid for guests to stay at Hotel Crillon
Norma Cohen Productions

The memorable occasion transpired at Spring Studios in downtown Manhattan and saw 400 guests be transported to the African plains: Details included mammoth replicas of wildlife such as giraffes and elephants, servers in safari themed attire, and entertainment dressed like giraffes. The event was one of several over-the-top parties Cohen’s arranged recently.

A four-day wedding in Paris where the ceremony was in a historic chateau and the host paid for guests to stay at Hotel Crillon, one of the city’s most luxurious properties, also ranks high in Cohen’s memory.

Then there’s a destination party in London that Cohen planned for a client who was turning 40. It as a six-day affair with dinners at swanky spots such as Cipriani, the Arts Club, and Cecconi’s at Soho House. The finale was Lancaster House, a mansion in St. James, where guests were entertained by cabaret dancers from the famed Ibiza club Lio Ibiza and feasted on prime rib and lamb chops and imbibed on Krug champagne.

“People today don’t want to host events,” Cohen says. “They want experiences that take you away to a different place and make you forget that the real world exists.”

The significant retirement cost awaiting more Australian homeowners

An increasing number of Australians expect to still be paying off a mortgage or renting in retirement, a new survey by superannuation provider Vanguard shows. The findings mirror trends revealed by the Australian Institute of Health and Welfare last year. The AIHW says homeownership rates are gradually decreasing among people nearing retirement. Since 1996, homeownership among 50 to 54-year-olds has fallen from 80 percent to 72 percent in 2021, according to Census data. The number of people aged 55 or older who are renting also rose from 17.5 percent in 1996 to 20.6 percent in 2021.

Vanguard’s How Australia Retires report shows nearly one in three working Australians today expect they will still be paying off their home loans in retirement. The expectation is higher among younger generations, with 45 percent of Gen Zs (aged 18 to 27 years) expecting to be doing so compared to 29 percent of millennials (aged 28 to 42), 32 percent of Gen Xers (aged 43 to 57) and 17 percent of baby boomers (aged 58 to 77).

Vanguard says almost one in five retirees today are renting and 8 percent are still paying off a home loan. The likelihood of retiring with a mortgage or renting is significantly higher for those who are not in a relationship compared to those with a partner, at 31 percent and 8 percent, respectively.

Achieving debt-free home ownership is especially important given so many Australians intend to remain in their homes as long as possible. The survey found 56 percent of retired Australians and 46 percent of workers want to remain in their family home for life and/or want to pass it on to relatives in their Wills. This suggests holding onto the family home in retirement is a priority, even if that means continuing to pay interest on debt.

Daniel Shrimski, Managing Director of Vanguard Australia, said housing tenure was a “sleeper issue”in retirement.

“Housing is either the largest or second largest asset held by Australian households, so it’s also one of the most important contributors to a secure retirement,” he saidWe tend to presume we’ll be homeowners and mortgage free – but having unresolved debt or needing to draw down on savings to pay rent is likely to be a big financial burden for many, especially if full-time paid work is no longer an option.”

Mr Shrimski said this is why it’s so important for Australians to prioritise superannuation savings, yet 49 percent of workers have not made additional contributions to their superannuation and 27 percent have no intention of doing so, despite the generous tax concessions available. The report also found less than onethird of workers felt confident in their understanding of superannuation.

Many Australians intend to use at least part of their super to pay off mortgage debt. The survey asked Gen Xers – the next generation to retire – about their plans to pay off their mortgage. About 38percent said they intend to keep paying their mortgage through retirement, while 25 percent intend to use their super to pay it off in one hit.

Bats, Asbestos, a Leaky Roof: This English Estate Proved to be the Ultimate Fixer-Upper

Growing up, Ian Wason often wondered what lay behind the tall stone walls surrounding Harpsden Court, a 400-year-old country estate close to his childhood home. It was many years before he discovered the answer: a beguiling but badly rundown, 17,000-square-foot landmark property in need of a multimillion-dollar restoration.

Despite the overwhelming scale of the project, he and his wife, Gigi Wason, fell for the charms of Harpsden Court, took on the project, and have reinvented it as a classic country home for their young family.

“It was basically semi-derelict when we first saw it,” said Ian. “Parts of it literally hadn’t been touched for almost 100 years and it had been on the market for four years. It was this complete disaster zone, which is why nobody bought it. We were the first and only people to put in an offer.”

Ian, 46, was raised 5 miles away from Harpsden Court, in the village of Medmenham, some 35 miles west of central London. After training as an accountant in London, he moved to Cape Town, South Africa, where he set up a debt counseling and financial-education company, and met Gigi, a 42-year-old interior designer.

In 2015, on a visit home to Ian’s parents, who were still living in Medmenham, he noticed that Harpsden Court was up for sale, listed for $16.43 million. He persuaded Gigi to go and have a look just to ease his curiosity.

What they discovered terrified them.

“It was overwhelming,” said Gigi. “It was obviously going to be such a mammoth project. You could see the sky through the roof, there was a whole zoo in the house—bats, crows, rats and mice—and it was dark and freezing cold.”

In 2017, Ian, Gigi and their daughters, Clementine, now 11, and Josephine, 9, returned to the U.K. They bought a house in London’s Notting Hill neighborhood, and welcomed another child, Madeline, now 5. But, over the next couple of years, Gigi started to hanker for more space than a London townhouse could offer. When Ian, who had always hoped to live in the country close to his family, mentioned the house was still for sale, and that its list price had been slashed to $11.42 million, Gigi agreed to another visit. This time around she was ready to appreciate the Gothic-style house.

Harpsden Court dates from the 17th century, according to Historic England, Britain’s official heritage organization. New sections were added to the house in the 18th and 19th centuries. According to the Henley Archaeological and Historical Group, the house was originally home to Lords of the Manor of Harpsden and, according to an ancient map of the area, there has been a house was on the site as far back as 1586.

It had been used as a location for a series of movies including “Quantum of Solace,” starring Daniel Craig, “The Woman in Black” with Daniel Radcliffe, and “Jude” starring Christopher Eccleston and Kate Winslet.

Outside, its 30 acres of gardens, woodland and fields easily outshone the tiny Astroturfed backyard of the Wasons’ London house. “It was like I saw the house with completely different eyes,” she said. “It was magical, and I was obsessed.”

In 2019, the couple paid $7.29 million for Harpsden Court, which came with three cottages and stables. The main house was habitable but not comfortable. Most of it had no central heating, the roof leaked, and Gigi describes the kitchen, fitted in the 1960s, as “unspeakably awful.” The property had 14 bedrooms, but only two bathrooms.

The Wasons hired the architect Ben Pentreath, who has worked for high-profile clients including King Charles and the Prince and Princess of Wales, and asked him for a light-touch modernisation plan.

“We did not want to lose the character of the house,” said Gigi. “I like designs which are timeless and I think that if you create something modern at some point it will tire.”

Pentreath suggested replacing the 1960s kitchen and adjacent open courtyard with a new, enlarged kitchen. The servant’s wing of the house, built in the Victorian era, was cramped and gloomy. “It was just a long corridor with loads of rooms off it, like the hotel in ‘The Shining,’ ” said Ian.

Pentreath recommended removing part of the first floor ceiling to create a galleried, double-height hallway with walls of painted brick and the original stone floors. To make the house more balanced, the number of bedrooms has been reduced to 10, and the number of bathrooms upped to six. Outside, the gardens needed re-landscaping, and the Wasons wanted a sauna and a swimming pool.

Work on the house began later in 2019. Alterations to landmark buildings in Britain require special building permits, which can take several months to obtain from local government planning departments, but they were permitted to get on with basic repairs such as the removal of carcinogenic asbestos insulation, installing a new roof, and restoration of the windows.

Removing asbestos from the roof was particularly difficult. “It was a very painful process,” said Ian. Before removal work could even begin, he had to commission an $14,000 report to determine whether there were any protected species of bats nesting in the roof space. These bats had to be carefully removed before a section of the roof was removed. “The asbestos removers then put on their hazmat suits and spent six weeks carefully removing the asbestos lagging from the heating pipes in the roof,” said Ian. This part of the work ate up $190,000, said Ian.

The backyard presented another challenge. It had been infested with highly invasive Japanese knotweed. The previous owners had tried to tackle the problem, said Ian, and had purchased a roughly $6,300, 10-year insurance policy to tackle any recurrence. Since the plant’s root network is notoriously hard to eradicate, contractors have to visit the property twice a year to spray and remove any new plants.

Back in the house, all the windows had to be removed, renovated, and reinstalled, adding another roughly $127,000 to the final bill. “We saved most of them, and where we couldn’t they were completely replaced with new oak windows,” said Ian.

Ian, who managed the construction himself, also oversaw the dredging of the ornamental lake in the grounds, and the installation of a ground source heat pump and central heating.

Then the electrics were tackled. “From the plans we had it had last been rewired in 1936,” said Ian.

Ian estimates that around a third of the total $7.6 million renovation budget was spent on these structural upgrades, carried out while the family remained living in London. Building permits were issued in spring 2020 for the alterations Pentreath had designed, and another third of the money was spent here. The final third went on decoration and finishes, overseen by Gigi who has created a comfortable country-house style home, with a soft and neutral color scheme.

Where possible the fabric of the house has been preserved. The flagstone floors, taken up when the new heating system was installed, were carefully re-laid. The decorative tiles around the range cooker in the kitchen were taken out of one of the original bathrooms, and as much of the original wallpaper as possible has been salvaged and restored. This, said Gigi, involved an artist spending six weeks at the house carefully redrawing patterns on water-damaged sections of the walls, and repainting them so that they blend seamlessly with the surviving sections of paper. The cost? Around $15,200, said Ian.

The first floor has a series of living rooms, a formal dining room, and a well-preserved original kitchen complex. Gigi now uses the main room of this complex for flower arranging and children’s arts and crafts, and there is also a hanging larder for preserving game birds, a pastry room, and a wine cellar.

There are three staircases leading to the second floor, the grandest of which is lighted by a stained-glass window depicting St George, the patron saint of England, battling a dragon. undefined One bedroom is dubbed the “Queen Mary” room, named by a previous owner for Queen Mary, who is rumored to have been a guest at the house.

This room has a four-poster bed, pretty tiled fireplace, and an exceptionally lavish en suite bathroom, with a free-standing wooden bathtub and wallpaper featuring oriental-style blossom trees. The principal bedroom is equally splendid with its bespoke hand-painted wallpaper by de Gournay featuring swans and white peacocks, a gilded French-style bed, and soft green silk moiré drapes.

The house contains many surprises; a bookshelf in Ian’s office is a hidden door leading to the original gun room, and if you look closely at the restored wallpaper in an upstairs hallway, a confection of fruit, berries and birds, there is a tiny naked nymph added by a previous resident, plus three miniature fairies Gigi had painted in honor of her daughters.

By Christmas 2021, two years after the reconstruction began, the family, plus dogs Tess and Charlie, were able to move into the Victorian wing, which was completed first. They have kept their London property for when Ian needs to be in London for work and for family trips.

Since then, Ian’s parents have moved into one of the cottages. Gigi’s cousin and her husband live in another.

Ian estimates that although $7.6 million has been spent on the renovation so far, more than the house cost to buy, that sum will keep going up. At the start of the year, for example, a section of the decorative domed ceiling in the music room—a second-floor reception area—collapsed unexpectedly and awaits repair. Work to shore up the stone walls in the garden is ongoing. And Gigi hasn’t got around to designing several of the guest bedrooms to her satisfaction.

“This project is going to go on forever,” she said.

Elon Musk Pitches Advertisers on a Return to X, Months After Telling Some to ‘F’ Themselves

Seven months after declaring that advertisers pulling their ads from his social-media platform X could “go f— yourself,”   Elon Musk took a more congenial tone onstage at the advertising industry’s most important annual festival.

Musk joined Mark Read , chief executive of ad giant WPP, in a session Wednesday at the Cannes Lions International Festival of Creativity in France, a five-day event that draws thousands of the industry’s chief marketing officers, tech leaders, creative workers and others from around the world.

“Back in November, you had a message to us. You told us to go f— ourselves,” Read said. “Why did you say that? And what did you mean by that?”

Musk said that he had not intended the message for advertisers as a whole.

“It was with respect to freedom of speech,” he said. “Advertisers have a right to appear next to content that they find compatible with their brands. That’s totally fine…What is not cool is insisting that there can be no content that they disagree with on the platform.”

X in November was grappling with the departure of several large advertisers in the wake of a post by the billionaire describing a post that espoused an antisemitic conspiracy theory as “the actual truth.”

Musk later that month called the advertisers’ response “blackmail” and said the advertising boycott was “going to kill the company.” He also said he had tried to clarify after his post that he hadn’t meant anything antisemitic

In Cannes on Wednesday, Musk also said that the company has worked to overhaul its abilities to match its users with ads using AI.

For advertisers who haven’t been on the platform but might be mulling a return, Musk said he believed it was “worth trying out.”

“We are very focused on having ads be shown to people who would find the ad interesting,” he said. “That is something we have done and are making a lot of progress on.”

He added that the platform still sees activity from the likes of world leaders.

“If you’re trying to reach senior decision makers, if you want to reach the most influential people in the world…the X platform is by far the best,” he said.

Musk and Read also spoke about the future of AI as it pertains to creativity.

Musk said his company Neuralink aspires to enhance human intelligence so that people can keep up with AI. “It will certainly amplify creativity,” he said.

Property of the Week: 5903/1A Barangaroo Avenue, Barangaroo

If you’ve ever ventured around the newly established precinct of Barangaroo—one of Sydney’s most important waterfront renewal projects in decades—it will become immediately apparent just how extensive its re-development has been. What once was a gasworks site and container terminal is now a thriving oasis in central Sydney; a new waterside precinct with restaurants, bars and more that locals and tourists alike flock to year round.

Not surprisingly, it has also become a highly desirable place to live. Enter 5903/1A Barangaroo Avenue, Barangaroo —a three-bedroom, three-bathroom luxury apartment on Level 59 of Crown Sydney’s One Barangaroo locale.

Seldom do property listings like this become available, particularly so soon after its completion (the apartment is less than two years old). Providing all the luxurious amenities and service one can expect from such a location, this expansive home—which is just one of 79 residential apartments—is opulent in every sense of the word.

This residence represents the pinnacle of luxury living at 5903/1A Barangaroo Avenue, with panoramic views of both Darling Harbour and the Sydney Opera House. Featuring three spacious bedroom suites, each with adjoining ensuites, the residence is suited to both family members and their guests who can meet in the entertaining area where attention to detail, particularly in its design, is apparent. Materials include marble, artisan timber and leather interiors, chosen to complement designer lighting fixtures and a world-class chef’s kitchen with a bookend Calacatta benchtop and Sub Zero fridges.

Living in such surroundings calls for the hospitality and service Crown has come to be known for. Residents have access to six-star hospitality establishments with priority seating—as well as a residents-only bar and restaurant—a dedicated pool and private tennis court, valet service, and even room service should you desire.

Above all else, Barangaroo South is brimming with activity; once a neglected and inaccessible area of Sydney, now residents and visitors will benefit from the dynamic cultural, residential, business and retail hub that Barangaroo has become, yet is only moments from the city’s CBD precinct.

A win-win for young couples, downsizers, and families young and old who aspire to enjoy the best of city-living without compromising on a premium lifestyle.

Address: 5903/1A Barangaroo Avenue, Barangaroo NSW

Price guide: $15.5 million

Auction: Private Sale

Agent: The listing is with McGrath Millers Point, Richard Shalhoub (0414 466 973) and Richard Sholl (0430 803 424)

Fashion’s Boring-and-Expensive Era Is Over

Not long ago, designer Jonathan Anderson attended a music festival where he surveyed the crowd and thought, Now this is where all the fashion has been lurking.

“I saw more people dressing more in high fashion than actually what was happening in fashion,” said Anderson , who designs the British clothing brand JW Anderson, as well as LVMH’s Loewe.

The free expression of these festival goers stuck with Anderson as it clashed with the risk-shy attitude that has guided much of luxury fashion in recent years. “I wonder,” said Anderson this past weekend in Milan, “has fashion become so conservative whereas what’s happening out there is actually way more avant-garde?”

Just a couple of years ago in Milan, “quiet luxury ” was on the tip of everyone’s tongue. This collocation was a simplistic shorthand for where fashion was going: pricey but prim; light on logos but heavy on the wallet; all cashmere everything in grey, beige, navy.

Fashion is a creative industry and designers can only cup their mouths for so long. At the latest edition of Milan men’s fashion week, shouts in the form of new, notice-me clothes broke out from the runways.

“People want uniqueness, maybe they want something which is challenging somehow,” said Anderson, speaking after the latest JW Anderson show, which was widely held up as the most successful collection of a muddled Milanese sprint.

Highlights included winsome cardigans with children’s book depictions of London terrace houses, leather jackets contorted by ski-slope-like hems and a kitschy sweater showing a smirking pint of Guinness—an upmarket riff on a Dublin tourist souvenir.

The day after Anderson’s show, came the surprise online release of a bulging 171-outfit lookbook from Valentino, the first stab from the label’s new creative director Alessandro Michele, who helped lift Gucci to a more than $10-billion brand before leaving in 2022.

At Gucci, Michele ushered in a maximalist fashion moment, and based on this initial showing, his taste for theatrics is intact. Against a backdrop of winter-mint curtains, feather-haired models (often wearing gigundo nerd glasses and hoops of pearls) sported floppy dog-ear ties, Kermit-green suits and tapestry prints. Flipping through the collection, all the tired but fitting Michele comparisons came rushing back: Wes Anderson films, kooky grandmothers and leopard-clad psych-rock bands.

Valentino, which is part-owned by Kering, also made its commercial intentions clear by sending out 93 close-up photos spotlighting easy-to-buy accessories like V-logoed sandals and rectangular handbags.

Notably, Sabato de Sarno, the still newish creative director who replaced Michele at Gucci, seemed to be shrugging off his own restraints. Neither De Sarno nor François-Henri Pinault, CEO of Gucci parent company Kering, spoke to the press after the show, but the collection was a departure from the brand’s recent strategy of focusing on classic, trend-agnostic pieces that cater to older, wealthier clients.

Model on the runway at the Gucci fashion show during Milan Fashion Week Menswear Spring/Summer 2025 held at Triennale di Milano on June 17, 2024 in Milan, Italy. (Photo by Aitor Rosas Sune/WWD via Getty Images)

De Sarno’s surf-inspired offering bounded between skin-revealing mesh polo shirts, skimpy thigh-high shorts and camp-collared shirts with blooming hibiscus flowers prints. It would be hard to imagine much of it on anyone over 29. (Actor Paul Mescal, 28, was already in the front row in a pair of those shorty shorts.)

Youthful abandon was the theme at Gucci’s mightiest Milanese competitor, Prada. “Sometimes when you get older you start to overthink a lot and you limit yourself,” said Raf Simons , who is co-creative of the brand with Miuccia Prada , the grand doyenne of Italian fashion. “When you are young, you just go. We like that spirit.”

Models wore navel-exposing shrunken sweaters and pre-wrinkled sportcoats, a seeming nod to teens who haven’t yet learned the wonders of ironing. A lurid palette of hot pink and electric blue spoke to juvenile fashion experimentation.

Throughout the long weekend in Milan, the feeling settled in that this new, shoutier tone was a necessary course correction during an unsteady period for the apparel industry, and really, Europe at large.

The chatter of the front row centred on this month’s European Union elections which saw a surge in support for right-wing candidates, catching pundits and leaders like French President Emmanuel Macron by surprise. Inflation also remains stubbornly high.

Pressingly, for the fashion world, some of the world’s largest luxury labels have been reporting a glut of unsold products and a dearth of shoppers. Past strategies don’t seem to be working and one could tell that brands were ready to try anything to spur shoppers to spend a bit more.

Even at Zegna, a label so synonymous with quiet luxury that the cast of “Succession” wore it on that money-mad show, the clothes were more conspicuous. In between its Learjet-bound sotto voce suits, one found vivacious coral patterned jackets in blue and yellow.

“For sure playing more with colours and prints, we had fun,” said Zegna’s artistic director Alessandro Sartori following his show. “It’s a sense of freedom that I wanted to express.”

Social-Media Influencers Aren’t Getting Rich—They’re Barely Getting By

Many people dream of becoming social-media stars like YouTube’s MrBeast or TikTok’s Charli D’Amelio . But for most who pursue careers as content creators, just making ends meet is a lofty goal.

Clint Brantley has been a full-time creator for three years, posting videos on TikTok, YouTube and Twitch where he comments on news and trends related to the online game “ Fortnite .” Despite having more than 400,000 followers, and posts that average 100,000 views, his income last year was less than the median annual pay for full-time U.S. workers in 2023—$58,084, based on Bureau of Labor Statistics data .

Clint Brantley, a full-time creator, draws an average of 100,000 views for his ‘Fortnite’-related videos on TikTok, YouTube and Twitch. PHOTO: RAJAH BOSE FOR THE WALL STREET JOURNAL

The 29-year-old is hesitant to commit to an apartment lease because the money he gets, mainly from online tips and sponsorship deals, arrives randomly and could vanish at any moment. For now, he’s living with his mom in Washington state.

“I’m vulnerable,” he says.

Earning a decent, reliable income as a social-media creator is a slog—and it’s getting harder. Platforms are doling out less money for popular posts and brands are being pickier about what they want out of sponsorship deals. The real possibility of TikTok potentially shutting down in 2025 is adding to creators’ anxiety over whether they can afford to stick with the job for the long haul.

Few overnight sensations

Hundreds of millions of people around the globe regularly post videos and photos to entertain or educate social-media users. About 50 million earn money from it, according to a 2023 report from Goldman Sachs . The investment bank expects the number of creator-earners to grow at an annual rate of 10% to 20% through 2028, crowding the field even further. The Labor Department doesn’t track wages for these creators, also known as influencers.

It can take months or years to earn money as a creator, often through a combination of direct revenue from social-media platforms, sponsorship deals, merchandise sales and affiliate links. But those who stick with it eventually see some returns, surveys show. Creators say that’s because you can learn what kind of posts most resonate with an audience, which can lead to more followers and, in turn, more moneymaking opportunities.

But money doesn’t mean big bucks . Last year, 48% of creator-earners made $15,000 or less, according to NeoReach, an influencer marketing agency. Only 13% made more than $100,000.

The gap reflects multiple factors, including whether creators work full- or part-time, the kind of content they put out and when they started. People who jumped into the space during the height of Covid-19 lockdowns—and who focused on a niche such as fashion, investing or lifestyle hacks—say they benefited from the surge in social-media use during that time.

A small number of creators shot to fame, propelling the occupation to the top of career wish lists for many teens (and adults). But behind the scenes, creators say the job is gruelling. They need to constantly produce compelling posts or risk losing momentum. They spend their days planning, filming and editing posts while also working to make inroads with advertisers and interacting with fans.

“It is a lot more work than most people realise,” says Emarketer analyst Jasmine Enberg. “Creators who make a living doing it have been at it for many years. Most are not overnight sensations.”

Like other self-employed professionals, creators don’t get paid time off, healthcare benefits, retirement contributions and other perks that companies typically provide for their workers. That reality, coupled with stubbornly high inflation and mortgage rates , is making it more difficult to get by as a creator.

Brantley works on editing a coming video. The online tips and sponsorship deals that make up his income can be erratic, so for now the 29-year-old continues to live with his mom in Spokane, Wash. PHOTO: RAJAH BOSE FOR THE WALL STREET JOURNAL

“Everything is more expensive, especially groceries,” says Jason Cooper of Mobile, Ala.

A few years ago, Cooper dreamed up a sassy sock puppet named Sock Cop, who cracks dad jokes in live and recorded videos for TikTok and Twitch . He currently makes $500 to $600 a month, almost entirely from tips.

He thinks he could probably haul in a lot more if he went full-time. But with no guarantee, the 37-year-old father doesn’t want to quit his marketing job and risk losing health coverage. He now spends a few hours in the evening and on weekends on Sock Cop. If he had more time, he would feel the need to constantly make videos.

“You’ve got to feed the beast,” says Cooper.

Shrinking platform payouts

TikTok’s $1 billion creator fund, which ran from 2020 to 2023, doled out money to eligible creators for posting to the platform. Others joined in . YouTube’s TikTok competitor, Shorts, allowed creators to earn anywhere from $100 to $10,000 a month with its temporary fund. Instagram’s Reels Play bonus program rewarded creators with fluctuating payouts. Snapchat ’s Spotlight rewards program gave $1 million a day to the platform’s top creators.

Today, the platforms have revamped or completely changed how they pay creators—doing away with their funds.

Qualifications for TikTok’s current rewards program include having an account with at least 10,000 followers with a minimum of 100,000 views in the past month. Instagram is currently testing a seasonal, invitation-only program that rewards creators for sharing Reels and photos.

YouTube debuted an ad-revenue share model last year, in which qualifying creators with more than 1,000 subscribers and 10 million public Shorts views in the past 90 days receive 45% of revenue from ads that occur between posts. Snapchat has a program that gives creators who meet certain criteria, such as having at least 50,000 followers and 25 million monthly views, a portion of the ad revenue that appears between Stories. Its Spotlight program also continues to dole out money to creators.

Creators who opt into these programs or bonuses aren’t guaranteed a significant payday.

Yuval Ben-Hayun originally became popular on TikTok in 2020 because of his posts about the word-puzzle game Wordle. The 29-year-old New Yorker eventually expanded into linguistic and other education content, and by early 2023, was able to support himself and his bills of over $4,000 a month.

TikTok had closed its fund by then but was testing its creator rewards program. Ben-Hayun said in March he received about $200 to $400 per million views, and it’s steadily declined since then—even as his follower count reached 2.9 million.

The followers are still there, but the money isn’t. He recently hit a new low, receiving only $120 for a video with 10 million views.

Danisha Carter uses her phone and a ring light to create content for her TikTok channel, where she has 1.8 million followers. PHOTO: JESSICA PONS FOR THE WALL STREET JOURNAL.

Danisha Carter is frustrated that TikTok and other platforms sold the idea of content creation as a job, but later withdrew the financial incentives. Thanks to creators’ efforts, she says, consumers are now hooked on social feeds, bringing the platforms billions of dollars in annual revenue.

The 26-year-old has 1.8 million TikTok followers, and her posts about beauty and exercise, along with opinions on topics ranging from dating to online bullying, regularly receive hundreds of thousands of views. TikTok has paid her a total of $12,000, Carter says. She sells merchandise for additional income, bringing in about $5,000 last year.

“Creators should be paid a fair percentage based on what the apps are making off creators,” says Carter. “There should be more transparency into how we’re paid, and it should be consistent.”

A TikTok spokeswoman declined to comment.

YouTube said it paid more than $70 billion to creators, artists and media companies in the past three years, and more than 25% of channels in the ad-revenue share model are now making money through it. “We remain committed to putting our full energy into what matters most for our creators, viewers and advertisers,” a spokeswoman said.

A future without TikTok?

Many creators and advertisers credit TikTok, which pioneered the short-form video genre, with driving stronger engagement than its industry peers. TikTok has gained more than 170 million users in the U.S. since its launch in 2016—including, Pew Research Center says, a third of American adults. They spend an average of 78 minutes a day on the app, according to market-intelligence firm Sensor Tower.

TikTok may not be available in the U.S. for much longer, at least not in its current form. In April, President Biden signed a bill into law that will force a sale or ban of the app by Jan. 19, 2025. U.S. lawmakers have expressed worries that TikTok poses a national security risk. TikTok’s parent company, Beijing-based ByteDance, has said it can’t and won’t sell its U.S. operations by the deadline.

ByteDance sued the U.S. government, alleging the new law violates its First Amendment rights. Several U.S. creators also sued. The U.S. Court of Appeals for the District of Columbia Circuit will hear arguments in September for both cases.

“To lose TikTok would be kind of devastating,” says Brandon Granberg , a 31-year-old creator from Bayville, N.J., known for interacting with strangers in public places in silly ways.

Granberg struggled for years to attract viewers on the app before one viral post two years ago took his follower count from 5,000 to more than one million. Recently he made $1,000 from a TikTok program that launched last year called TikTok Creative Challenge, which allows creators ​to earn money by making video ads for brands that don’t appear on their personal profiles. He also earned $2,800 for producing four TikTok videos promoting a website for people with foot fetishes. Granberg says he found it creepy, but did it because he needed the money.

While he hasn’t landed many other sponsored posts, he’s grown his income significantly by making marketing videos for small businesses over the past year. Most clients find Granberg on TikTok. “If it gets banned, it will definitely hurt me,” he says.

Changing tastes and algorithms

This year, U.S. social-media creators as a whole are expected to make $13.7 billion, according to Emarketer. The research firm projects the majority of that—$8.14 billion, or 59%—will come from brand sponsorships.

Advertisers have always led in compensating creators, paying out far more money than the social-media platforms and fans who buy merchandise or dole out tips. But these days, advertisers expect more from creators than just large followings, according to agency and talent representatives. They want to see evidence of strong engagement in the form of saved and shared posts, plus the demographics of creators’ audiences.

“Brands are looking at metrics that are far less predictable for creators and also very difficult to price yourself on,” says Sarah Peretz, a business-strategy consultant in Los Angeles who helps creators negotiate partnerships and deals with advertisers.

Some brands are more controlling than in the past, says Sarah Steele, a 34-year-old creator in Tulsa, Okla., who started making TikTok videos about being a working mom in 2020. “Now it’s, ‘We’re paying you and this is what we want you to say.’ ”

Earlier this year, Steele says an advertiser insisted she cite legal disclaimers in a series of sponsored Instagram posts. “It felt like I was reading off a teleprompter,” she says. “As a consumer it even turned me off to the brand a little bit.”

Creators, meanwhile, are having a tougher time attracting viewers, thanks to algorithm changes and other factors beyond their control. And while more advertisers are looking to partner with creators than in the past, “increased activity leads to increased competition,” says Peretz.

Another change is that advertisers now prefer to work with just a handful of creators on long-lasting deals rather than experiment with several on one-off projects, says Jess Hunichen, of Shine Talent Group.

Hunichen co-founded the talent-management agency in 2015, when TikTok didn’t exist and influencer marketing was still relatively new. Back then, an average deal size between an influencer and brand was usually below $1,000. Now, the average deal per campaign is around $10,000, she says.

Worth the hustle

Ronit Halmos of Los Angeles began making TikTok videos earlier this year that she describes as quick-reviews of restaurants, bars and more “with some sass and attitude.”

The 27-year-old, a full-time technology recruiter, recently landed her first advertiser deal. A kombucha brand asked her to make a 30-second post featuring her take on a line of flavours. Though it ended up getting less attention from viewers than her usual fare, she made $1,500 from about 30 minutes of work.

Tyler Haven , a 27-year-old traveling around the Pacific Northwest, charges $250 to $300 to make promotional videos that brands can post to their own social channels, and around $1,200 for posts that appear on either his Instagram account with more than 41,000 followers or his TikTok account with more than 10,000 followers.

Since January, he’s been posting videos documenting his “van-life” with his wife, Oak Haven: Their primary residence is a fully paid, fully decked-out 2004 Mercedes Sprinter T1N.

Haven said it’s been easy to grow his following organically. He believes it’s because his posts don’t depict some unattainable, picture-perfect life.

He quit his job in June to pursue full-time content creation.

“Even if I were to make $2,000 a month, which is absolutely nothing—that’s less than most people’s rent—I could live on that,” Haven says.

With the van fully paid off, the 27-year-old says he and his wife, Oak Haven, can get by with even a small income from his videos. PHOTO: TODD MEIER FOR THE WALL STREET JOURNAL