By esantiago@hubspot.com (Erica Santiago)

The media landscape has changed significantly over the years thanks to the rise of the internet and social media. With platforms like YouTube and TikTok, anyone can go online, create content, and find their niche audience. As a result, media has become more decentralized than ever, and millions of content creators have created a new space in the entertainment industry — the creator economy.

But what exactly is the creator economy, and why should marketers care? Here’s everything marketers need to know:

What is the creator economy?

Social Media’s Role in the Creator Economy

Platforms with Content Creator Funds and Programs

How Brands Should Use the Creator Economy

What is the creator economy?

The creator economy is an online-facilitated economy comprised of millions of content creators, such as social media influencers, videographers, bloggers, and other digital creatives. The creator economy also includes software and tools designed to help these creators grow and profit from their content.

The creator economy is a relatively new addition to the media and entertainment industry, and it’s something that anyone from any generation can be a part of. Whether you’re a millennial with a true crime podcast or a Gen Z fashionista with a style blog — you can be a part of the creator economy in whatever niche you choose.

Think about it — if a TikTok account rating bathroom sinks around New York City can go viral, then there really is no limit to what’s possible in the content creation business.

Social Media’s Role in the Creator Economy

The rise of social media has fueled growth in the creator economy. According to Forbes, there are about 50 million content creators across multiple platforms, including YouTube, TikTok, Instagram, and Twitch. That’s about 50 million people participating in the creator economy.

The creator economy saw significant growth during the start of the COVID-19 pandemic. During this time, many people found themselves working from home or looking for new income streams due to budget cuts and layoffs. This resulted in more people having more time or incentives to create content on platforms like TikTok, Twitch, and YouTube.

In fact, TikTok saw a significant increase in users during the height of the pandemic, which directly contributed to a boom in the content creator economy. According to Statista, TikTok experienced a growth of 180% among users ages 15-25 after the pandemic broke out in the U.S. in 2020.

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Aside from financial opportunities (and an escape from boredom), social media provides a digital space for almost anyone to post their content, promote their work, and build a loyal fanbase. In the creator economy, you can be a creator without investing in expensive equipment or getting the backing of major studios.

For example, Kyle Prue rose to fame on TikTok with videos showcasing his dry humor. All his videos are shot from his apartment using …read more

Source:: HubSpot Blog

Author: Aaron