Creator economy

The Creator economy or also known as influencer economy, is a software-facilitated economy that allows creators and influencers to earn revenue from their creations.[1] Examples of creator economy software platforms include YouTube, TikTok, Instagram, Facebook, Twitch, Spotify, Substack, OnlyFans, Tiki and Patreon.[2][3][4][5][6]

HistoryEdit

In 1997, Stanford University's Paul Saffo suggested that the creator economy first came into being in 1997 as the "new economy".[7] Early creators in that economy worked with animations and illustrations, but at the time there was no available marketplace infrastructure to enable them to generate revenue.[8]

The term "creator" was coined by YouTube in 2011 to be used instead of "YouTube star", an expression that at the time could only apply to famous individuals on the platform. The term has since become omnipresent and is used to describe anyone creating any form of online content.[9]

The creator economy consists of approximately 50 million content creators,[10] and there are just over 2 million who are able to make a career of it.[11] The biggest names are those such as TikTok star Charli D'Amelio,[12] PewDiePie and Addison Rae.

A number of platforms such as TikTok, Snapchat, YouTube, Tiki and Facebook have set up funds with which to pay creators.[13][14][15][16][17]

CriticismEdit

The large majority of content creators derive no monetary gain for their creations, with most of the benefits accruing to the platforms who can make significant revenues from their uploads.[18] Despite the hopes of many who aspire to make content creation a full time job, as few as 0.1% are able to make a living of it.[19]

See alsoEdit

ReferencesEdit

  1. ^ "The Creator Economy Explained: How Companies Are Transforming The Self-Monetization Boom". CB Insights. Retrieved 2 November 2021.
  2. ^ "Celebrities are crashing the creator economy". Quartz. Retrieved 2 November 2021.
  3. ^ "The Creator Economy Comes of Age as a Market Force". Value Walk. Retrieved 2 November 2021.
  4. ^ "5 Israeli Creator Economy Startups to Watch". VC Cafe. 6 October 2021. Retrieved 2 November 2021.
  5. ^ D'Anastasio, Cecilia. "Twitch Turns 10, and the Creator Economy Is in Its Debt". Wired. ISSN 1059-1028. Retrieved 2021-11-07.
  6. ^ "Short-form video content platform Tiki aims to venture into social commerce by Q1 of next year". Value Walk. Retrieved 8 June 2022.
  7. ^ "Indexing the creator economy". Stripe. Retrieved 2 November 2021.
  8. ^ "Indexing the creator economy". Stripe. Retrieved 2 November 2021.
  9. ^ "What the "Creator Economy" Promises—and What It Actually Does". New Yorker. 17 July 2021. Retrieved 2 November 2021.
  10. ^ "The Creator Economy Comes of Age as a Market Force". Lightricks. Retrieved 2 November 2021.
  11. ^ "The Creator Economy Comes of Age as a Market Force". Value Walk. Retrieved 2 November 2021.
  12. ^ "The Creator Economy Comes of Age as a Market Force". Value Walk. Retrieved 2 November 2021.
  13. ^ "Facebook to pay creators $1 billion through 2022". CNBC. Retrieved 2 November 2021.
  14. ^ "How much does TikTok pay per view? Creator Fund explained!". HITC. 31 March 2021. Archived from the original on 2021-03-31. Retrieved 2 November 2021.
  15. ^ "Snapchat revamps creator payouts by offering chance to win prizes with Spotlight Challenges". TechCrunch. 6 October 2021. Retrieved 2 November 2021.
  16. ^ "The Real Difference Between Creators and Influencers". Atlantic. 31 May 2019. Retrieved 2 November 2021.
  17. ^ "This Singapore-based 'make in India' short video app wants to take on Meta, Google with real talent and original content". Value Walk. Retrieved 16 June 2022.
  18. ^ "The Creator Economy Comes of Age as a Market Force". Value Walk. Retrieved 2 November 2021.
  19. ^ "The creator economy: what is it and how can brands engage with it?". The Drum. Retrieved 2 November 2021.