We lived in a world flooded with information. Digital technology has changed the way we consume content and also empower us to create one. We are no longer relying on the official media to be able to source some references. Content becomes the new machine to generate money where our attention is the new currency. This definitely has pros and cons - but, we are not discussing it right now. We will highlight more on how the creators from all over the world compete with each other to manage their own brand and gain mass audience attractions that will lead to the new economic system called “Creator Economy”.
Forbes stated that the creator economy offers the creator the unlimited opportunity to make a living on their passions by utilizing the social platform and tools. This is how the creator economy makes creative expression and entrepreneurship become more inclusive. In addition, what makes this system different from the traditional media economy is that the creator owns the brand, giving them the freedom to sell their own uniqueness and value to the audience.
The Covid-19 pandemic has also contributed in shaping the future of content creation business that also affected directly to the creator economy itself. During this unprecedented time, more people were forced to make a living from their very own house as well as seek a new way to fill the hours. The numbers of content creation are growing more and more vast and we can notice the wave of the trend is changing fast nowadays. Influencer Marketing Hub published a summary of creator economy statistics from many different sources that can be used as references on how the trend is going now and then. Although, we should also note that the statistics are all US centric.
Creator economy was also called the passion economy. People could earn an income from things they feel passionate about. It may have started as a hobby, but now, many creators have found a way to make it their hobby to earn a steady income.
The next question will be: how does the creator or influencer gain their income? When becoming an influencer and content creator, you’ll receive it from indirect sources and most of them not only rely on ONE single income but they diversify it by choosing several methods, for examples:
Advertisements: Creators with a certain number of followers/subscribers are able to monetize the contents through ads. The platform usually manages the whole process of ads placement and distributes a portion to the creators, for example Youtube takes 45% of ads revenue and 55% is distributed to the creators.
Subscriptions: The creators can create exclusive contents where fans pay a regular subscription fee. As examples, KaryaKarsa offers a platform where fans can support their favorite creators by subscribing to the content they love.
One-Off Sales/Donations: Creators with very loyal fans can also generate money from one off payment or “donation”. A platform like Buy Me A Coffee facilitates this where fans can support their favorite creators with donating some money. Youtube also provides a feature called Super Chat and Super Sticker where fans are required to pay a certain fee to be able to be highlighted during the livestream.
Brand Sponsorships & Influencer Marketing: Creators with high numbers of followers will attract brands to place some sponsorship content in their channel as well as do a particular activity digitally.
Affiliate Marketing: Some creators also agreed with the affiliate marketing mechanism where the brands provide specific links to purchase the products. The creators will get a commission fee for every sold product.
If you start to think to be one of the entrepreneurs in this creator economy era, you should consider how to monetize your contents that you find more comfortable for you (and to a certain degree, make it profitable - it’s a business after all). Also, calculate how far you want to go to win the competition. However, what makes it even more important is that we, as creators, hold the responsibility to provide insightful contents that lead the society to a slightly better place. We have the responsibility to use our influence to do the right thing, instead of manipulating the attention of the public for the sake of our profitability. We, as creators, can hand to hand to fuel the digital world with a lot more fun, entertaining, beautiful, and inspiring creative contents. Do you agree with us?
For more inspiring creative content references you can peek at our Creator’s Corner section like the story of DPR Musical by SkinnyIndonesia24 and Museum of Toys.
“Work for a cause, not for applause. Live life to express, not to impress.” - Grace Lichtenstein
Executive Content Writer:
Co-writer & Editor:
Sesa Wulandari / Kolaku.co
Creative Team:
Jasmine Surkatty, Art Director
Kharen Chandra, Illustrator
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