The global creative economy’s staggering $104.2 billion valuation underscores its importance in the modern digital landscape.
By 2023, the creative economy is expected to have 50 million contributors, most of whom (46.7 million) will describe themselves as amateurs.
According to Zippia’s report, about 12% of the approximately 45,000 creatives earn more than $50,000 annually on these platforms.
On YouTube alone, creators make $4 billion annually!
A lot of money is also made on Etsy, Instagram, WordPress and Amazon Publishing.
Let us dive into some interesting details highlighted in Zippia’s study about the 9 biggest global influencer platforms.
As mentioned earlier, Youtube is a universal platform used by creators worldwide.
Currently, there are over 51 million Youtube channels!
And the number continues to grow. The platform has seen a 36% increase compared to the last two years.
With 29% of American teens considering Youtube as an option, it’s clear that becoming a YouTuber or vlogger is a popular career goal among the younger generation.
Influncers use YouTube even though 96.5 percent earn less than $12,140 per year from it.
YouTube is a popular platform, but reaching a large audience is difficult. That’s clear when you consider that 1.75 percent of channels have just over 10,000 subscribers.
And it’s only the big whales, who make up just 3% of YouTubers, that are responsible for 90% of the channels’ revenue.
Instagram is the platform where most people make money: 5.64 million users actively sell their stuff on this platform.
24.3% of Instagram profiles have more than 100,000 followers.
On average, 78% of influencers earn $23,500 or more annually. That’s almost double what most Youtubers earn.
Their main source of income on Instagram is sponsorship. A typical influencer earns over $3,000 per sponsored post.
Patreon is a platform for video artists, podcasters, authors, gamers and musicians. 47.4% of users are mainly influencers from these genres.
By charging a monthly fee for content, benefits, and behind-the-scenes activities that are exclusively accessible to their members, influencers may earn money doing what they love.
But since just 31% of Patreon authors earn more than $100 monthly, monetizing content is challenging.
Although a 26% payout increase from 2020 to 2021 suggests that Patreon is growing in importance as a source of income.
Influencers and gamers can showcase their skills, interact with viewers and grow their fan base on Twitch, a state-of-the-art live streaming service.
With membership fees, donations, sponsorships, and brand alliances, gaming and entertainment influencers can earn significant money.
More than 27,000 Twitch partners earn between $3,000 and $5,000 a week for broadcasting for 40 hours.
Etsy is a prosperous online market for craftsmen, bringing in $1.46 billion annually.
In terms of revenue, it comes in second place, with 928,000 creators making money good money on the platform.
To turn their creative skills into a lucrative business, Etsy is popularly populated by the members of Generation Z.
According to Zippia, it is estimated that 4.85 million WordPress users are making money from their content on the platform.
WordPress generates an annual $348 million for the economy of creators.
Because of its intuitive design, this platform is widely used by members of Generation Z for blogging and content production.
Authors and artists earn $220 million through Amazon Publishing.
The platform allows opinion leaders to showcase their writing skills and publish their books in a variety of formats, including e-books and print-on-demand.
The platform’s extensive distribution network boosted by Amazon services, enables influencers to reach a wide audience and earn royalties from book sales.
There are 3.14 million bloggers on Tumblr, and that number is growing.
The art, literary, fandom communities and many others are finding a home on Tumblr.
It’s an excellent way for influential people to share their special works with others, spread them around their communities of interest, and make money from it.
It may surprise you, but according to Zippia, there are a million more earners on Tumblr than on YouTube!
What does the Zippia Report mean for the Infleuncer Economy?
Zippia’s study offers insight into the current creative economy and how Millennials and Generation Z think about social media.
It shows how important it is for marketers to understand these trends and how influencer culture affects this generation.
And most importantly, it highlights the lucrative platforms currently in the industry.
Incomes in the creative industries vary widely. For example, many musicians can not make ends meet, while those who have built a large following can earn well over $100,000 annually!
If you can make a name for yourself in today’s creative economy and use the appropriate platforms skillfully and creatively to succeed, many doors will be open to you.
You can find the full report at this link.
For more exciting stories and news from the world of influencers and the creative industries, visit netinfluncer.com.