If only 1% of the creator economy fully monetises off of their brand, only 50% of the world has internet access and the growing population of the internet is from developing countries.
And if a majority of the creator economy will be businesses, professionals and creatives, then we’re undervaluing the market.
I remember during the lockdown, when everything, even your favourite shows, came to a standstill.
The people that kept the world sane were on our devices. Keeping us laughing and going during the hardest times.
This is when I truly saw the power of an internet connection.
How are you taking advantage of this growing economy, and what can you learn to improve your business?
We’re Living In The Age of The Creator.
The creator economy is a new way of looking at the world. It’s not just about producing content, but being the brand that produces content and art. This new economy isn’t exclusive to just artists, musicians, and actors anymore. Anyone with a social media account, enough conviction and a clear plan can become an influencer.
Creators are disrupting industries by changing the way people consume media and products.
They are also changing how people view public figures by creating their own brands rather than the pedestal we looked at celebrities from.
They’re more approachable, relatable, and accessible than the public figures of yesteryear.
The Creator Economy is Growing Rapidly.
Technology is changing the way that we create and consume content.
Roughly 62.5% of the world population has access to internet today. Less than 2 decades ago only 16% of the world had internet access.
We are seeing new technologies like BCIs, VR, AI, AR, 5G and edge computing come into the market in order to help us interact with media in a more immersive way.
I can only predict that in the next 2 decades more than 90% of the world will be connected, creating more opportunities for developing countries and developed alike.
More ingredients means more cake.
- More children want to be YouTubers than police officers.
- More businesses are adopting digital marketing
- Better, cheaper tech gives access to new users
- This rise of remote work means professional are developing an online presence.
There is still plenty of room for growth and development.
We’re already at a point where we’ve fully adopted this reality. Just nudge from the metaverse.
But we’ve barely scratched the surface of all the opportunities and possibilities.
Opportunities ‘Hidden’ In Plain Sight?
Commerce is mobile, work is remote, entertainment is content hence your attention is online.
This isn’t news to anyone in the modern day but the opportunity here is obvious, maybe a little too obvious.
Right now, most creators monetise off sponsors, advertising, occasionally merch and paid memberships like Patreon or Discord.
The note here is that creators become part of a cycle.
- Creators bring and engage an audience on platforms.
- Companies want to reach said audiences to sell to.
- Marketers decide on the best way to reach said audience.
- Platform provides guidance and stats on audiences.
- Creators provides past results and engagement with past campaigns.
- Marketer chooses both.
- Platform pocket all profits. Only YouTube pays a cut.
- Rinse & Repeat.
Now I’m not saying that creators need stats, but they obviously need a bigger cut.
A cut they wont be getting from their platforms.
Full branding is the key. Creating an entire experience for their audiences and supporters.
Obvious icons in this field are Logan Paul, Mr Beast, Conor McGregor, Floyd Mayweather, Kylie Jenner and this list goes on.
These people built empires off of their name, from the products to the marketing they have the means to handle it all. Maximising their leverage.
Every creator has this opportunity, not all can achieve it as well, but most definitely can get pretty close.
And I’d argue that in some parts of the world right now, the next Mr Beast and Logan Paul, are only now learning that YouTubers can get paid, really well.
How Will You Get Involved?
The creator economy is an economy that values creativity and content production.
It is an economy where talented creators get compensated for their contributions, can build a sustainable career as creatives and find new ways to make money.
If you want to get involved in the creator economy there are many different ways to do so.
You can become a creator by creating your own content or working on someone else’s project as a creative director or producer.
You can also work for companies that help creators by providing them with opportunities like crowdfunding platforms, custom video production, or mobile studios.
In this new economy, you can be an entrepreneur, an artist or a freelancer.
You can also be a consumer who pays for the things you love. And you can do all of this from anywhere in the world!
We are living in the age of creative disruption.
The old ways of doing things are being replaced by new ways that are more flexible and rewarding for everyone involved.
So how are you involved?