The exponential growth of technology and digital platforms has unlocked an entirely new landscape for creative talent, enabling them to monetize their work by targeting global audiences that were previously unreachable. This latest issue of IDEAS LLYC explores the burgeoning creator economy.
Creators generate original content in the digital world, becoming a significant economic force. There are now an estimated 50 million content creators globally, and the economic value they generate is believed to be well over US$109 billion. This value constitutes an industry comprising creators, platforms, and other agents and brands worldwide of advertising, e-commerce, and sponsorship. Indeed, with this new context in which the generation of genuine content is also a business opportunity, we are entering what is already known today as “the content creator economy” or “the age of creators.”
These content producers influence and reach diverse communities, large and small, on almost any topic through various channels such as YouTube, Twitch, Instagram, TikTok, or Reddit. The growth of this industry has been driven, in part, by the digital platforms themselves, which foster the connection between creators and their audiences, drive interactions between the two, and facilitate real-time feedback.
There is now a new path for anyone looking to share their talents, knowledge, or passions with the world, a path in which they can also generate income through sponsorship, advertising, and product sales. Let’s explore the impact of this new era on the economy, culture, and society in general and analyze the emergence of content creators, their influence on consumer decision-making, the opportunities and challenges they face, and the long-term implications of this new digital revolution.