Regulation could disrupt the booming “kidfluencer” business

IT STARTED WITH a Lego “choo-choo train”. The video shows three-year-old Ryan Kaji picking it out from the store “because I like it”, he tells his mother, Loann. Back at the family home in Houston, Texas, the toddler opens the box and plays with his new toy. It’s nothing out of the ordinary. But it helped make the Kajis millionaires. Loann had recorded and uploaded the video to a new YouTube channel, “Ryan ToysReview”. Eight years, many toy unboxings and 35m subscribers later, “Ryan’s World”, as the channel is now known, is considered YouTube royalty. He is part of a new generation of child social-media influencers (those under the age of 18) changing the shape of kids’ entertainment in America—and making a lot of money in the process.