The Creator Economy and the Growing Role of YouTube as a Jobs Creator

GigaStar
5 min readMar 7, 2023

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“Build your own dreams, or someone else will hire you to build theirs.”
― Farrah Gray

Just a few decades ago, if you asked a kid what they wanted to be when they grew up, many answers would run along the lines of astronaut, president, or doctor.

But with the rise of YouTube, a disruptive Creator Economy has been carved out, turning the traditional idea of work on its head. And it’s not lost on the next generation that making a living as a YouTube Creator is possible and becoming even more so.

Views of more traditional jobs, and the values of the 9–5 “work hard” establishment are being scrutinized closer as younger generations reconsider what they really want out of life.

And YouTube has helped catalyze this fundamental change, evolving into a platform that not only creates a new generation of professionals but is instrumental in allowing people to (gasp) do what they love.

As of 2022, there are more than 51 million YouTube channels out there. The number of channels is growing strong: last year it grew by 36%. People all around the world are creating a YouTube channel, and uploading 500 hours of video every minute, according to Tubics.

YouTube is not only an outlet for creative expression and a community builder, but Creators can monetize their content through sponsorships, partnerships, subscribers, and ad revenue — a platform that enables people to make a living doing what they love — for an audience who loves their content. The love is all around!

A Creator Economy is Born

An early set of Creators found themselves being noticed and watched by viewers across the world When YouTube was taking root in the 2000s and providing early content case studies in what it means to “go viral”.

According to CNET, YouTube release a 2021 study revealing that the “creator economy” spurred by its massive video service supports the equivalent of 394,000 full-time jobs in the US and contributed $20.5 billion to the US gross domestic product last year. The study, conducted by independent advisory firm Oxford Economics, was commissioned and paid for by YouTube.

In the article “How YouTube is Shaping the Future of Work”, YouTuber RaffyTaphy separates the working and creative sides of his life in a different way. Even though he makes more on YouTube than he does in his job as a mechanical engineer, he’s careful not to become dependent on the money he makes from it. Instead, he thinks of the channel purely as a hobby that lets him give something to a community he loves.

“It’s awesome for you to create something that you enjoy doing and then you put it up to an audience,” he said. “There’s an audience that loves RaffyTaphy, and they can’t wait for the next RaffyTaphy video, and when I upload it they get really happy.” He said the channel provides a kind of meaning that he doesn’t find in — and doesn’t expect from — his job. “I wouldn’t say I ever expected to gain the satisfaction of helping to make the world a better place from my job,” he said. “I certainly get that from my hobby.”

Compounded with the existential crisis of living through a global pandemic, global circumstances are spurring more Creators than ever to pursue their passions while simultaneously being personally fulfilled and financially rewarded.

YouTube Keeps Innovating for Creators

YouTube continues to innovate for Creators and communities of Fans to come together. A 2022 YouTube statistics post from GMI cites that “features introduced by the platform in 2021 such as Shorts, Live streaming, Chapters, Premieres and Community Tab encourage content creation and will certainly attract more users.”

And YouTube’s official blog outlines the clear convergence of digital and linear TV for viewers, Creators, and advertisers.

We couldn’t be more thrilled to see YouTube continue to shape its capabilities so that Creators can continue to shape their professional destinies.

YouTube has served as a champion of content democratization, a natural fit for the Web3 world ahead.

The passion of Creators is what inspires the team here at GigaStar. We’re looking to disrupt the Creator Economy with a solution that benefits both Creators AND their Fans. Stay tuned as we’ll release more details soon.

Check out our website and connect with us on social media!

Disclaimer:

This communication is provided by Creator Networks, Inc., (dba GigaStar). GigaStar is the Parent Company of GigaStar Portal, LLC (dba GigaStar Market), an SEC registered funding portal member of FINRA, and GigaStar Technologies LLC, offering blockchain and smart contract solutions via GigaStar Portfolio.

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