As the creator economy continues to expand and see great success, many are curious as to how these individuals make money online. SignalFire has delved into the complexities of this market and offers a comprehensive look into the plethora of revenue streams available. Netinfluencer discusses the key findings from the Creator Economy Market Map report.
Who Conducted the Survey?
The Creator Economy Market Map report was designed by SiginalFire, a platform that uses the advancements in AI technology to build a talent recruitment platform. The business aims to supply developing brands with a variety of skilled individuals to help them excel in their operations.
As a team of experienced Venture Capitalists, SignalFire also uses an assortment of data sources to guide high-value companies to make the best decisions for their overall growth and investments.
In order to produce this report, SignalFire used its data collection resources to analyze the creator economy as a whole. This means that they assessed the work of over 50 million content creators as a way to discover how they gained revenue.
The report is separated into three phases, helping to give a more detailed history of this market. The first phase is called Birth of Media Platforms and works to place each platform into a certain category.
Next is the Emergence of Influencer Marketing which discusses how these platforms have evolved to support these influencers as well as monetize their work.
Finally, the third phase is called Creator as Businesses. This explains how platforms such as Kickstarter and Cameo can help creators to gain a new revenue stream that is outside of the platforms that they use to make content.
Three Key Takeaways
The Creator Economy Market map report highlights a series of crucial points, helping us to better understand the nuances of this developing industry. Listed below are just three key findings from this report.
- Creators are beginning to move away from social media platforms and toward their own platforms.
- Many influencers are forming businesses that surround their craft.
- Audiences are looking to connect with influencers rather than anonymous brands and publishers.
What Does This Mean for Influencer Marketing?
The first takeaway from this report indicates that many content creators are looking to build a more independent source of income. SignalFire informs of the many ways that creators can earn money alongside the typical revenue systems we see on social media. For example, platforms such as Ko-Fi and Buy Me a Coffee allow audiences to submit a small donation to a creator as a way of thanking them for their work. The report also highlights the significance of YouTube Channel Memberships and their ability to help influencers earn money through an already established audience base.
SignalFire also expresses how many influencers are using their talents and experience to build businesses and platforms of their own. The company brings our attention to platforms such as Substack, which allows influencers to produce their own newsletters and ebooks using its range of intuitive tools. SignalFire also mentions the growth in influencer merchandise and how this can be a fundamental way for influencers to build their own e-commerce store. Overall, this finding explains how influencers are looking to maximize the earnings they make from having a social media presence.
The final takeaway details how influencers have the power to produce stronger relationships with their audience, in comparison to leading brands. SignalFire pulls upon data from FourStarzz Media which denotes that 65% of consumers follow their favorite influencer on Instagram. This statistic explains that not only is Instagram the most popular platform for influencer marketing but also that consumers are more aware of the work of their most valued content creator.
Link to the Report
The Creator Economy Market Map report can be found on SignalFire’s blog alongside a wealth of other insightful articles.