The creator economy is an era-defining online ecosystem and community where content creators can monetise their expertise by curating unique content. In the era of the virtual world, the creator economy has reached a global stand-point due to the access to the internet across the globe.
The term creator economy is almost a decade old but has gained popularity over the last few years in the country. Millions of users, the influencer marketing industry, and the brands with whom the ecosystem interacts come together to increase the market capitalization of the creator economy.
The surge
While it feels like content creation is an easy job, content creators work round the clock to share the unique content that is eventually consumed by the mass. The presence of social media apps where content is shared has led lakhs of users to become creators in their own fields who are now also earning for a livelihood parallel to sharing content for consumption.
The last five years have seen a large shift in the content consumption habits of individuals. It has increased more so during the pandemic as the internet was the constant source of entertainment, infotainment, and a way to make ends meet for a large section of people.
Social media companies have innovated every possible means to help creators monetise their talent as much as possible. Some of the examples are: Introduction of reels, showing the paid collaboration label, direct sharing of website links on stories, in-stream ads, Live sessions, etc and much more.
Creator economy has gotten people closer, thanks to the internet! We have now broken linguistic barriers, geographical boundaries, and even age, gender stereotypes by making it possible to reach out to the maximum number of people in one go.
In India, we also have a handful of influencers across verticals who are creating a global benchmark too. Creators have made way for accessibility of content across platforms and helped in reaching different parts of the world.
The year 2022
The year 2021 saw the high repercussions of the pandemic. While the economy did jump back to normalcy steadily, the influencer marketing industry helped in taking the creator economy to greater heights thereby connecting a lot of people with numerous brands. The upcoming year will witness thousands of more people joining the creator ecosystem to contribute to the industry’s development as a whole.
The year will also witness a surge in home-grown short video apps. The apps will lead to a lot of creators witnessing the paradigm shift in content consumption. The year 2022 will also see more developments and discussions on topics like NFT, and welcome more people using them to elevate the creator ecosystem globally. We will also witness a large number of people from tier 2 and 3 cities signing up to consume short video content.
2022 will also see small and local brands developing as a wing of the creator economy as content creators will help in better branding of the local businesses, and thus reach as many people as possible.
The year will also witness larger social media companies making as many efforts as possible to create better UI for the people to increase content consumption, thereby helping influencers build and diversify their portfolios.
Conclusion
The creator economy is powered by creative minds that will channel the necessary creativity to help the industry boom. 2022 is undoubtedly going to be a great year with wide range of opportunities to create and monetise content.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YS.)
