The creator economy: an answer to rising aspirations?

Credit: Frantz, J. (2020). Hangar [Illustration]. Dribble. https://dribbble.com/shots/14542426-Digital-Craftsman-invite

Have you ever published an article on a blog? Taken a picture to post it on Instagram? Recorded a short movie that you posted on Youtube maybe?
Well… if so, then, that means you probably already know what a creator is and could guess what the creator economy stands for!

What is the creator economy?

The creator economy stands for the ecosystem of content creators monetizing their audience. Today there are over 50 million content creators worldwide. That means, 50 million people are actually getting money from what they produce and post on the web.

Let’s get back in time to understand that boom…

How did it all start?

From the industrial to the knowledge economy

At the early 20’s century, we lived in what we call the industrial economy. At that time people earned their living by making stuff. In the 1950’s, we switched to the consumer economy where people started providing services for others in addition to goods only. In the late 1990’s, the emergence of the Internet as well as the globalisation introduced the knowledge economy. The 21’s century has been marked by technologies transforming the jobs and deeply changing the way society envisions the future of work. And Covid has proven that’s only the beginning of a huge paradigm shift.

A huge — still underrated — potential

With the development of the Internet and especially the birth of media platforms, people realized the Internet was not only a place we could get content out of but also somewhere we could create and share with others. And guess what?! We could share, not only with the few ones around us, but with people from all over the world without any limit. At that time, people realized the huge potential: we could now, from anywhere, with only a smartphone, instantly publish something that could potentially get to be seen by thousands of people.

It accelerated with the creation of the influencing marketing that capitalized on those communities to rethink the way we advertised. From then, creators have mostly been assimilated to influencers — and sometimes suffered from that comparison — and became some kind of human digital billboards.

💡 Let me just take a minute to highlight one thing! Creators and influencers are not the same. Influencers are people deciding to use their popularity to affect people’s purchasing decisions. Creators are not necessarily leveraging that source of income. Indeed, they are more and more emancipating themselves from brands and agencies and the creator economy trend is actually all about creators becoming real, sustainable businesses and profitable on their own!

And can we just talk about all the exciting Web3-related perspectives — which are absolutely crazy?!

Overview

The creator economy has been boosted by:

  • The development of the Internet which changed the game. The media have been decentralized and most of the content we consume as of today is not owned anymore by the big players of the industry but produced by ordinary people.
  • The globalisation of social media.
  • The improvement of technologies that has made it way more affordable to produce and share valuable content.
  • The transformation of our society as a whole and more specifically of the ways of working.
  • The change of people’s aspirations and mindset valuing way more creativity than before.

But the ecosystem has still a lot left to do to build a sustainable infrastructure to help those creators.

There are still many challenges remaining! Stay tuned for next article…

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