In less than ten years, a new way of working has evolved more and faster in the modern economic world. As in other areas, technology has paved the way for new applications, which in themselves have generated new economic models.
Thanks to the development of revenue generation, advertising and the arrival of advertisers on social networks and content creation platforms, it is now possible to make money and keep your business alive thanks to the people who follow us and that influence , we have on the networks. This is called the “creator economy”, the content creation economy.
According to Mediakix, the current size of the influencer marketing market is approximately $ 8 billion and is expected to reach $ 15 billion by 2022, making it one of the fastest growing business sectors. Although the “creative economy” is only ten years old, more than 50 million people around the world already claim to be content creators.
A two-step economy
The special thing about this market is that it was first born of a passion, of amateurs who are passionate about creation and are curious about the emergence of new ways of expressing their creativity. In a few years, an entire economy has been built around these content creators, which in particular explains that among these content creators, 47 million are still amateurs who express their creativity with some financial benefits or to afford an extra income.
Only three million would be professionals and live off their full-time activity. YouTube will undoubtedly remain the platform most used by professional content creators. Today, there are one million, or nearly half of the content creators, the number of professionals who earn their living thanks to this platform, compared to a quarter (500,000) of professionals who get paid via Instagram.
Conversely, for amateur content creators, Instagram allows more than 30 million non-professionals to create monetized content, compared to 12 million amateurs who use YouTube. Whether for professionals or amateurs, the Twitch streaming platform has risen to 3rd place among the platforms used by content creators. The emergence of the phenomenon is also accelerated with the success of TikTok, not only among the younger generations, but also more generally since the first incarceration.
A constantly evolving market
The number of small businesses associated with the “creative economy” has grown extremely rapidly in recent years. While platforms like YouTube or Facebook a little over 10 years ago barely saw the light of day, revenue generation has enabled this market to evolve much faster than expected. Little by little, creators have also developed other ways to monetize their audiences, such as sponsorship, product placement, call for donations, or setting up their own e-commerce business in parallel, to be less dependent on the platform they share their content with.
Creating content on the internet today is a real business that should not be neglected. In addition to becoming successful business leaders, some people who follow the networks have even greater influence than traditional media or politics. And it is precisely this influence, this ability to create engagement with its communities, that is becoming more and more expensive in the eyes of advertisers and the political, economic and traditional media world.
Forbes France, a benchmark business magazine, for example, featured blogger and entrepreneur Caroline Receveur on the cover of her 2019 summer issue, the first woman to appear on the cover. Recently, youtube user Léna Mahfouf (Léna Situations) offered herself a long-form article in New York Timesand hailed the success of his book, which turned the publishing world upside down.
More generally, the creative economy is changing the way people live, whether it’s an Instagram content creator, a freelance graphic designer, or a video editor. The good stock market health of social networks such as Facebook, Snapchat and Twitter testifies to the future potential of the economy for content creation. Long limited to the range of hobbies for teens, the “creative economy” now has a solid economic future both for the creators themselves and for the brands that benefit from it.