Both, but they do different jobs now.
Distribution is how people find you. Most platforms have moved to interest-based feeds (TikTok started it, Instagram and LinkedIn followed), so one good post can reach millions of people who don't follow you. Follower count barely affects reach anymore.
Followers matter for what happens after that. A viral post from a small account gets views, but those people often don't remember who posted it. The accounts that actually make money usually have a smaller audience that recognizes them, comes back, and buys. 100K followers with low reach usually means the content stopped being relevant to them, not that followers don't matter.
So what I'd focus on:
- Make content built for shares and saves, since that's what pushes distribution.
- Have a clear reason for people to stick around after a post does well (a consistent format, a series, a point of view).
- Move your best audience somewhere you own, like an email list, so an algorithm change doesn't wipe you out.
Basically: reach gets you discovered, audience gets you paid. Curious whether others are seeing follower count matter at all for brand deals anymore.