A powerful new area of the economy is growing rapidly as many people leave traditional career paths behind to make a living through their creativity. This is the Content Creator Economy, and it is rapidly impacting both business and culture.
A new study by the software provider Adobe found that over 165 million creatives have entered the global content creation market in just the past two years. The study, called "The Future of Creativity," follows the rise of individual contributors creating – and monetizing – their content channels.
These include people sharing their photography, videos, creative writing and more on social media platforms, personal websites, and blogs. Unsurprisingly, the majority of content creators are younger people. Millennials comprise 42 percent of the Creator Economy, and Generation Z represents roughly 14 percent.
Of course, that latter number will likely rise sharply in the next few years. Gen Z are generally regarded as people between 10 and 24 years of age right now. As the younger members of that cohort – who have grown up with smartphones, tablets, and wifi everywhere – reach their teens, they are likely to be avid participants in the creator economy.
They are already showing their interest in pursuing such career paths. According to another recent study, online content creation is among the top dream jobs of people between 11 and 16 years old. For this research, conducted by the team at the affiliate marketing Awin, more than 2,000 parents of children between the ages of 11 and 16 were polled.
When asked what their child said that they wanted to be when they grew up, the results were as follows:
Doctor – 18%
Social Media Influencer – 17%
YouTuber– 14%
Veterinarian – 13%
Teacher – 9%
Of course, since Social Media Influencer and YouTuber are similar and often interrelated roles, their combined totals reveal that 31 percent of young people aspire to a career creating and sharing content online.
Young people often have a strong desire for self-expression, but there are many other benefits to the content creator career path as well. For one thing, people who make their living in the Creator Economy enjoy the flexibility of being their own boss and being able to work from anywhere. The importance of these aspects of a career was only brought into sharper focus by the recent lockdowns amidst the COVID-19 pandemic. Creators were able to continue to produce content – and the audience for their work skyrocketed as many people were stuck at home hungry for new content to consume.
Most content creators use trending social platforms to attract an audience by posting informative or entertaining content online. The most popular of these right now include:
YouTube (video)
Instagram (images and video)
TikTok (short video)
Twitch (live video)
Facebook (multi-media)
Podcasts (multi-media)
Blogs and websites
Successful content creators will often use more than one of these channels to reach a larger audience and expand the reach of their content across platforms. The revenue then comes from monetizing the channels (and audiences) by selling ads, including paid promotions, or charging for exclusive 'members-only' content.
It is not an easy career path. Success in the Creator Economy requires creativity, innovation, technical skills, and perseverance. So much content is being generated and shared online right now that building and maintaining an audience to make your channels lucrative can be challenging. The Adobe study found that 60 percent of creators have full-time 'day jobs' to pay the bills while they build up their following. So, while content creation remains a 'side hustle' for most current contributors, turning it into a full-time career is the goal for many.
The creator economy is built by creative, motivated and skilled participants who forge their own online brands, businesses, or communities. However, even those individuals who do not succeed in generating enough of an audience to make an independent living can still find themselves sought after for lucrative career opportunities.
That is because many of the skills developed in content creation are similarly in demand by businesses seeking to reach audiences, clients, and customers for their brands. Because digital marketing is a hot field right now, good writing and storytelling, video and photography production, and savvy use of the latest platforms for content sharing are valuable skills to include on a modern resume.
These two career paths – marketer and content creator – merge in the trend of influencer marketing. This is where businesses pay social media influencers – who have built up their following through content creation – to promote their products or services to those audiences.
Content creation is a dream job for many because of the desire to be your own boss and make a living off of your creativity. Those are great perks to have. However, succeeding in the Content Creation Economy in a saturated market requires being an entrepreneur and business-savvy marketer as much as an artistic creator. The role includes budgeting and scheduling, design, community engagement, data science, and optimization, as well as being a creator.
You have to manage your content's production and then tweak the timing and delivery and focus on building and growing the audience you need across platforms.
Fortunately, along with the creativity and tech-savvy involved in content creation, project management skills are among the most sought-after by employers across industries. So, whether it's fame and fortune as independent producers in the online Creation Economy or the development of in-demand abilities for lucrative career options, people pursuing the field of content creation are setting themselves up for success.
