As of the New Year, there are over 50 million professional content creators across the globe. The market size has escalated to a staggering $104 billion, and investors from around the world have poured as much as $1.3 billion back into the sphere. Thanks to the stimulating (and undeniably addictive) nature of social media, people who once used platforms like Instagram and Facebook for connection and informal engagement are now using them for serious economic gain.
Content creators are turning their lives into their own businesses, and global audiences can’t seem to get enough. It’s plain to see that there has never been a better time to be an online content creator – but what is the reason behind these successes and why are experts saying the culture is here to stay?
What Is Driving The Boom Of The Creator Economy?
Of the 50 million content creators worldwide, 2.3 million report working full-time. Bloggers, curators, videographers, and social media influencers of all kinds are taking the industry by storm, and many people are left wondering how – and if – this “boom” is sustainable.
Well, the answers are several. Millennials and Gen Z make up the bulk of current content creators, and it’s easy to see why. The creative license, flexible work hours, and allure of fame are all things which these generations are drawn to, making them highly attractive career paths. And if you thought that the content creation market was too heavily saturated – think again. Thousands of creators have exploded with followers just one year after finding and sticking to their niche.
Secondly, becoming a content creator is pretty accessible compared to other jobs. All you need is a smartphone (hello, technological globalization) a passion for self-documentation, and a deft understanding of how social media works. Most Millennials and Gen Z already have these three things.
Social Media Brands Need To Keep Up
Many platforms such as Facebook, Instagram, and the exponentially growing TikTok have started to invest in content creators by adding tools and services that support their social endeavors. However, the constant barrage of new apps and platforms makes it difficult for brands to keep momentum with followers and online consumers. Keeping up will likely be a challenge, especially as the market continues to evolve at such a rapid pace.
Hiring a professional online marketing agency is one way for brands to maintain a grip on their audience while expanding it at the same time – and can allow them to participate in both current and upcoming trends with fewer blunders than if they were operating alone. Professionals in the field can execute dynamic social media marketing strategies which will yield great results in no time. An agency can also make the difference between a campaign that garners minimal attention, and one that maximizes ROI.
Every Day Is Different
This year marks the beginning of a new chapter in social commerce. With trends rising and falling faster than (what feels like) the speed of light, it will take no small degree of perseverance and adaptability for brands to cope with the inexhaustible everyday changes. However, the age of the content creator is here – and current data suggests, it’s here to stay.