What you need to know:

• WeAre8, the social platform created by Sue Fennessy that pays users for watching ads, while funding charities, has launched in Australia with nine brand partners.
• Suncorp, Coles, Telstra, SBS, Dove, Rexona, Omo, Virgin Australia Airlines and Nature’s Own have signed on.
• Their ad dollars will fund users watching ads and contribute to 10 “impact partner” organisations.

Some of Australia’s biggest brands have signed on to advertise on new social platform WeAre8, which launches this month and pays users – and not-for-profit organisations – for watching ads.

Telstra, Coles, Suncorp, Virgin Australia Airlines, Unilever’s brands Rexona, Dove and Omo, as well as Nature’s Own and SBS, have committed to spend with the platform for different lengths of time as it builds an audience in Australia.

“WeAre8’s good value proposition is a perfect fit, and alongside the revolutionised ad-experience will help us form a deeper relationship with our customers,” Suncorp Chief Marketing Officer, Mim Haysom said.

“I look forward to seeing more Australians embrace a more positive social media experience.”

The company was founded by London-based Australian tech entrepreneur Sue Fennessy, who in 2009 also co-founded Standard Media Index – which was acquired by US private equity firm GTCR in June.

WeAre8 was launched on the Apple and Google app stores yesterday (the date being 08/08/2022) after launching in the UK earlier this year. It has 700,000 users so far in the UK and plans to launch in the US in October.

The platform returns 50 per cent of revenue back to people, five per cent to carbon offsetting and impact partners, and five per cent to an “8Creator” fund. Users watch a video ad and are prompted to answer up to three questions posed by the brand. Brands don’t pay unless an ad is fully viewed by the user.

On average, WeAre8, which is a certified B-corporation, says it pays users 30 cents a minute for watching ads and donates 2 cents to charity over the same time.

Per its calculations, if all social media-using Australians watched two minutes of ads each month, $25.2 million would be donated to charities and $378m would go into users’ wallets over the same period.

Lizzie Young, CEO of WeAre8 – who joined from Nine earlier this year, said: “The calibre of brands who are supporting our launch month in Australia is nothing short of amazing. It speaks volumes about what these brands stand for and their desire to align their values with a social media platform that is good for people and the planet.”

Those nine brands join 10 “impact partners” who will benefit from the ad campaigns and donations paid by WeAre8 users in Australia: Adopt Change, Garvan Institute Foundation, The Great Barrier Reef Foundation, National Indigenous Culinary Institute, OzHarvest, Royal Far West, Starlight Children’s Foundation, Take 3 for the Sea, UNICEF and UnLtd