Why is the creator economy growing?

[kumartk]

The creator economy has seen its biggest growth spurt during the pandemic. With many people stuck at home and looking for extra income due to job cuts and layoffs, TikTok and Twitch have seen record user growth as they bahamas phone number data fled the lockdowns and sought lucrative income streams into the digital world.

But there are many more factors contributing to growth:

Increased hardware affordability

Platforms' willingness to accommodate creators

More options and tools for generating income

Most people have tried live broadcasts and online conferences during the pandemic

Changing strategy of companies that are now also focusing on creators

Increasing investment by marketing departments in creators

Paid subscription viewing and contributions to authors

An interesting point is the increasing part of the budget that companies allocate to the creator economy. This sector is starting to compete with traditional media and seems to be the preferred path for the future. If you want to keep up, you have to learn to address creators and offer them topics that interest them, without it being just aggressive sales marketing .

This brings us back to the quote from the introduction, that brands cannot do without a polished view of the world. And certainly not in the modern world of digital marketing.

 

How will the creator economy change in the future?
We are guessing that we are heading towards several significant trends and events.

Content that targets a clearly defined niche will flourish. The creator economy craves specialization, whether it’s reviews of New York City sinks or how to maintain horse hooves. Anyone who taps into their audience’s tastes and interests can have huge reach.

Community marketing will grow. Targeting specific areas would not be possible without the development of platforms like Twitch, Discord, and Reddit, where anyone can connect with other like-minded people and create an active community.

Creators and influencers will become part of companies. Customers prefer to communicate with other people, so brands will try to involve creators in their communication strategies in the digital space as well. Long-term partnerships will replace the current one-time paid advertising collaborations.