Author: Dr. Harrison Sachs
Publisher: The Epic Books Of Dr. Harrison Sachs
Published: 2024-06-22
Total Pages: 55
ISBN-13:
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This essay sheds light on what is the creator economy, explicates how the creator economy changed people’s lives, elucidates how to earn revenue as a creative in the creator economy, and demystifies the future outlook of the creator economy. Succinctly stated, the creator economy is an economy that renders it possible for creatives to generate revenue from their intellectual properties. The creator economy is a software-facilitated economy that offers a myriad of monetization options to creatives that they can leverage to monetize their intellectual properties on online platforms, such as social media platforms, blogging platforms, live streaming platforms, podcast hosting platforms, music streaming platforms, subscription service platforms, book hosting platforms, print-on-demand platforms, graphic design platforms, newsletter platforms, and course hosting platforms. “The creator economy refers to the burgeoning ecosystem where individuals create content, products, or services and monetize their brands and audiences, primarily through digital platforms. The creator economy also encompasses the businesses that are created through content creation”. The members of the creator economy not only includes creatives, users of online platforms, customers, and the companies who own online platforms, but also encompass marketers, freelancers, and agencies. Even though the ecosystem of the creator economy is complex as an intricate ecosystem for creatives to generate sizeable revenue in, the creator economy is estimated to be worth over $985,000,000,000 as of May of 2024. The creator economy is slated to become all the more sizeable in the coming years to the extent that it could possibly “account for up to 10% of global gross domestic product by 2030” if it continues to rapidly grow. It is estimated that the creator economy is apt to grow by over 40% from 2024-2030 as long as smartphone adoption rates significantly increase, broadband internet connection adoption rates significantly amplify, and the global human population further significantly amplifies by 2030. The size of the global human population is projected to exceed 8,600,000,000 people by 2030. Furthermore, as long as people continue to access online platforms for ample time everyday, more creatives enter the creative economy, and more people become metaphorically mentally entrenched on online platforms, then the creator economy is apt to grow by over 40% from 2024-2030. The creator economy is apt to reach a valuation of over $1,379,000,000 before 2030 elapses. The creator economy is an economy that is not only appealing to creatives, but is also appealing to companies, freelancers, consumers, and users of online platforms from around the world. The creator economy not only provides a landscape for creativity and innovation where creatives can offer their content offerings and digital product offerings in, but also provides a landscape for marketing where companies can market their product offerings and service offerings in by featuring their advertisements on the content of creatives. The creator economy also provides an exorbitant amount of content to users of online platforms from around the world. Users of online platforms from around the world are able to access the content of the creator economy with extreme ease on their smartphones at anytime from anywhere in the world and are able to watch the easily accessible content for free that is produced by the creatives of the creator economy. The creator economy is an economy that is also appealing to consumers since it allows them to glean insights about products by watching videos appertaining to the specific products that they are ruminating purchasing. Customers would prefer to implement shrewd purchasing decisions that they are inapt to have qualms about implementing than implement impetuous purchasing decisions that they are apt to have qualms about implementing. The creator economy also appeals to freelancers who can perform tasks for creatives in order to generate revenue, such as by producing thumbnails for creatives, writing video scripts for creatives, and editing videos for creatives. The creator economy is an economy that has provided real private sector job opportunities to people from around the world who are amenable to working as creatives or freelancers. The creator economy is a robust economy that has low “competitive barriers to entry”.
