Here’s the first part of the transcription of the video:
Do you ever wonder how big the Creator economy is today? Well, according to Goldman Sachs research and a study they did earlier in 2023, today it’s $250 billion. By 2027, it’s estimated to reach half a trillion dollars. That’s more than $500 billion a year in that Creator economy.
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With Pushbio, you can;
- Link all your social media profiles together effortlessly.
- Showcase all your content, products, and services in one space.
- Share everything through a single link.
Now, in terms of the number of creators, there are more than 50 million global creators across the world right now. We’re talking multiple platforms, different ways of generating revenue, but it is expected to continuously increase by 10 to 20 percent in the next four years. So, on the low end, 10 to 20 percent increase.
The reason for that increase, according to the study, is the explosion of more digital channels: technology, AI, digital media, more smartphones, better connectivity, different ways for creators to be able to reach different audiences.
Branding
Companies know that for younger audiences, generations like Gen Z and also Millennials, they want more authenticity.
So if you’re a creator out there, let’s talk about that for a second. What is a creator after all? Well, there are many different job roles out there that fit that criteria. You could be a vlogger, a blogger, an influencer, a musician, artist, podcaster, streamer, video game streamer, photographer, writer, author, recipe creator, and so on.
Direct Brand Deals
The study cites that 70% of all income or revenue generated by these creators, this $250 billion a year industry, comes from direct brand deals. Brands like Disney or Nike use this channel to grow their business because they know that younger audiences trust the voices of these creators.
Professional Creators
Only 4% of all these millions of creators are deemed professionals, making over $100,000 a year. A lot of these creators are spending 10-15 hours a day to create a crazy number of posts across different platforms and videos.
Monetization
Sharing the ad revenue is one way to do it. Then you have creators who are building subscription products like online courses. Some are writers looking for donations if they have a newsletter on Substack.
Future of Creator Economy
By 2027, it is looking like it’s going to be a half a trillion-dollar industry. Companies that will benefit most from the Creator economy are those that can scale, have access to capital, use AI for better matching, have effective monitoring and monetization tools, and can provide data analytics and insights.
E-commerce
It’s a natural opportunity for most creators. Merchandise can make up 10-20-30% of your revenue when done effectively.
Flight to Quality
Many creators are going to start to focus on fewer channels and put most of their efforts into being a big voice in one of the channels.
