Content creation is now one of the most popular career choices of this generation. It grew rapidly in recent years and is still growing, with more and more new creators plying their trade online and platforms to showcase their skills and talents. Furthermore, people who consume online content continue to increase, typically millennials and Gen Z’ers, either for free or paying for it.
It’s no wonder that they’ve been able to build a rising economy from the uptrend of content creation. The creator economy is the overall content creation market in writing, visual, video, and voice-based content. It’s comprised of over 50 million creators in the world today.
This economy affects consumers, the creators themselves, and marketers. You may or may not be aware of it, but since it’s growing, its influence may reach you eventually. You can learn more about it in this blog, as it gives you an overview of what the creator economy is all about.
Creator economy is an ecosystem
The creator economy has been one of the fastest-growing spheres of influence in the last decade. It’s an ecosystem that consists of:
- Platforms and software that enable content creation and discovery,
- creators who produce content,
- and brands that need to scale content.
A content creator is anyone who produces digital content through writing, visual work (digital art), video, and voice (podcasting). You can find them on any digital media platform that hosts content, such as WordPress sites, YouTube, Twitch, TikTok, and Facebook.
Celebrities like professional athletes, actors, models, politicians, and entrepreneurs were always the brand partners for so long. However, the creator economy changed this, as numerous brands worldwide scale content and partner with content creators to promote their products or services, proving their influence and the power of the internet and digital media. Thus, the term influencer was coined, which is what they call creators who cultivated a following online by producing content on their chosen platforms and interest.
Their followers or people who use the internet make the creator economy move as they consume their content. The more people who view, share, and subscribe to a content creator, the more they’re likely to be discovered by brands and earn money aside from what they’re earning from their followers.
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Tools and platforms content creators use
Content creators use different tools that support the facilitation of the creator economy. They include content creation tools and platforms for influencer marketing and patronage. Here are some examples of each of them:
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Content creation tools
- Video: Streamlabs, Quik, Kapwing, inVideo
- Photography / Graphic Design: Canva, Fotor, Piktochart
- Motion Photos: Giphy
- Music: Garage Band, Splice, FL Studio
- Podcast: Anchor, PodBean, RedCircle
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Influencer marketing
Brands and content creators use various influencer marketing platforms and agency sites to find each other. These include MediaKix, Pulse Advertising, TapInfluence, CreatorIQ, Arthouse, etc.
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Patronage platforms
These are sites or features creators use to generate income and funding for their content creation. Examples include MeeSee, Patreon, YouTube Channel membership, Twitch subscription, Facebook stars, and the most recent Twitter Tip Jar.
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Where creator economy is headed
The growth rate of the creator economy is still in an uptrend and based on the direction it’s heading, it looks like it’s not going to stop. As of right now, there are 2 million professional content creators, those who do it full-time as a career. Just looking at the supply of content and the number of available platforms to publish them, that number will continue to grow, and the creator economy will continue to rise.
Content creators are also the “new business” because of their current population; they look for alternative ways of earning money, hence the patronage platforms. This is more than just a job but a business as well. As they continue to thrive and cultivate their following, more people will find being a content creator a desirable career, positively impacting the creator economy.
Wrap up
The creator economy grew because it gave people the chance to earn while doing what they love, which is the ultimate goal for many. Moreover, it serves as an example that that dream is attainable. And because of that, it became an influential part of today’s technology-driven world that looks to grow bigger and legitimize itself as a career choice and a player in the world of business through influencer marketing.
Would you like to read more about Content Creator Economy-related articles? If so, we invite you to take a look at our other tech topics before you leave!
