The Future of the Creator Economy
What is all the buzz about and how can you make the most of it?
We hope you all are doing good.
The shift in attention span has created a new form of celebrity: the Content Creator.
They’re grabbing the attention previously allocated to traditional media, and as a consequence, these changes are giving rise to an entirely new economy: the Creator Economy.
Creator Economy is booming like never before but the question is -Where is all this going? What is the future of the creator economy?
More than 50 million people around the world consider themselves creators today. What ‘start-ups’ did to the company as a social institution, ‘creator’ is doing to individuals. The ‘creator economy’, also called the passion economy, isn't primarily about the future of work, it's about the future of scalable entrepreneurship. It is a group of businesses centered around independent content creators, curators, and community builders including influencers, bloggers, and videographers, along with the tools needed to help them grow and monetize.
The Creator Lifecycle
The creator has to think like a business; the lifecycle includes
1. Create Content
2. Grow the audience
3. Own the audience
4. Monetise Online and Offline
5. Manage the business
Today, there are more than 150+ tools and platforms to maximize all segments. Creators have to have a prudent mix of platforms so that they can monetize and manage better.
The Future of the Creator Economy
The creator economy has pretty much exploded amid the ongoing pandemic.
Every day, someone we knew or knew of either started a podcast or a newsletter or a good ol’ YouTube channel. More recently, it was a Clubhouse room.
To give you all some context on why is creator economy already on its way to the rise, Last month, Li Jin, a tech investor who coined the term “ passion economy” in 2019, announced Atelier Ventures, a $13 million fund to support said passion economy.
Not just this, the platforms like Twitter gears up to compete with Substack, a writer’s collective on Substack called ‘Everything Bundle’ spun out of the subscription newsletter platform to start their own content and newsletter software company.
Artprenuers back home have also been busy building for the creator economy and raising institutional funding for their respective early-stage startups which supports creators of today and gives them the tools to monetize their content.
Creators will depend on fans for input on potential offerings. We are already seeing this extensively on creator platforms like Substack and YouTube, where celebs are pulling their followers from the aggregator platforms to their owned platforms/channels where they provide premium content to help increase their monetization.
We will see a rise in educational/workshop content and community offerings. Right now, a tiny segment of creators is monetizing their followings in a meaningful way through broken methods like ads+tickets+Zoom/video call linkage. A large chunk of creators lacks the tools and resources needed to have the impact they want.
What does all this mean for you?
Much like we saw with the gig economy, platforms geared towards supporting the unique needs of online creators are missing in the Indian ecosystem. Creators do not know where to start and how to go about monetizing their content. There are so many tools in the content ecosystem that creators can use to their benefit but are either unaware of it or they don’t know how can it help their content and niche.
Which is where we pitch in.
Join Pawan Rochwani on the 10th of July, 2021 from 4 pm IST to 6 pm IST on his Content Monetization Masterclass. The workshop will help you develop a well-rounded understanding of the influencer economy and the various monetization models followed by a QnA to help you identify the things that suit your unique community the best.
Who is this workshop for?
Aspiring Content Creators and Artists
Build a unique brand.
Learn how to build a profitable community.
Monetize your creative journey right at the beginning.
Established Content Creators
Develop a well-balanced monetization mix.
Stabilize your income source.
Engage your Community better.
Entrepreneurs and Solopreneurs
Branch out your income sources.
Use content to create a better brand identity.
Create a lively community.
Social Media Marketers & Managers
Gain a better understanding of your community.
Curate a well-balanced content plan.
Earn more money through well-distributed content.
Thank you for reading till the end. Have a great weekend ahead!
If you have any further queries to ask us, you can reply to this email or reach us on Instagram @platformforartists for more information.
Watch this space for more details on the workshop, until then share this with someone who needs it the most.