You’ve probably heard the term “Creator Economy” being thrown around recently, but may not be sure exactly what it means.
But if you’re making money online – or HOPE to make money online – this is a term you should definitely become VERY familiar with!
Below you will find everything you need to know about the creator economy: including what the creator economy is, why it should matter to you, and how you can become part of it so you can make (more) money online. That's why we are business owners, right?😀
Okay, let's dig in!
What is the Creator Economy, anywho?
There is no single, official definition of the Creator Economy.
The simplest way to define it is… it’s anyone who earns income through creating content online.
This could include the influencers* who are actually creating the content, as well as anyone supporting or creating tools for these influencers.
*Influencer definition: a person who is able to generate interest in something (such as a consumer product) by posting about it on social media (source: Merriam-Webster)
It has been estimated that there are over 200 million content creators who are part of the creator economy.
However, I would estimate this number to be MUCH higher – think about it for a hot second…almost all business owners participate in some kind of online content creation, right? That's a HUGE number of content creators!
What are the Main Struggles Faced by Those Who are Part of the Creator Economy?
While the creator economy is booming, that doesn’t mean creators don’t face some pretty major challenges.
Some of the main struggles faced by content creators include:
- Growing an audience. Nearly 1/3 of creators don’t know how to find and connect with their audience online (source).
- Finding time for everything. Many creators manage all aspects of running their business on their own: from marketing to bookkeeping to graphic design to customer service. For many of these creators, it can feel like there’s just not enough time to “do it all” (or at least do it all well) (source).
- Knowing how to monetize. Most creators don’t struggle with creating content…however many struggle with making money from that content. In fact, 14.4% of creators say this is their #1 challenge (source).
- Dealing with the stress of being a creator. 93% of creators say that being a creator has “negatively impact their lives,” and 45% say they’ve experienced “big emotional lows” due to being a creator (source).
- Being dependent on social media for earnings. 77% of creators worry about this, and 33% have felt “anger, range or extreme frustration with major social media platforms (source).
For more on these challenges – and more importantly, how to deal with them – see my post, 5 Obstacles Faced by Content Creators (And How to Overcome Them).
What are Some Statistics Related to the Creator Economy?
To gain a thorough understanding of the Creator Economy it’s important to get an overview of the creator landscape. Following are 17 recent stats related to the Creator Economy.
1. There are approximately 200 million people who are now part of the creator economy (source: linktree).
Here is the breakdown of this 200 million by number of followers:
- 23,000,000 have 0-1K followers
- 139,000,000 have 1K-10K followers
- 41,000,000 have 10K-100K followers
- 2,000,000 have 100K-1M followers
- 2,000,000 have 1M+ followers
2. Instagram is the #1 social media platform creators use for monetization (source: Influencer Marketing Hub).
Other channels creators use to monetize, in order: TikTok, YouTube, “Other”, Spotify, Facebook/Twitch/Twitter.
3. 36% of content creators spend 1-5 hours per week creating content (source: linktree).
Wowers, right?
Full breakdown is as follows:
- 36% spend 1-5 hours per week
- 27% spend 5-10 hours per week
- 16% spend 10-20 hours per week
- 9% spend 20-40 hours per week
- 7% spend 0-1 hour per week
- 5% spend 40+ hours per week
4. Nearly 35% of creators say connecting with their audience is the thing they care most about (source: Influencer Marketing Hub).
They also care about:
- Creating the best content they can (35.3%)
- Building a following (16.6%)
- Making money (13.1%)
5. 66% of content creators consider themselves “part-time creators” (source: linktree).
Related stats:
- 3% of part-time creators make over $50K per year
- 68% of part-time creators make under $1K per year
- 12% of full-time creators make over $50K per year
- 46% of full-time creators make under $1K per year
6. Only 1% of content creators regret their decision to become a creator (source: The Tilt).
Additionally, 85% of full-time creators say they enjoy their work, 82% say they appreciate the independence they have in their business, and 80% say they value the flexible hours.
7. Social media is the #1 channel creators use to reach their audience (source: The Tilt).
Full breakdown is as follows:
- 77% of creators use social media to reach their audience
- 61% use their email newsletter
- 60% use their blog
- 31% use online events
- 27% use teaching
- 26% use in-person events
- 26% use podcasting
- 25% use blogging for others
- 16% use paid promotion/ads
- 12% use paid media
8. Full-time creators are most likely to work 30-40 hours per week (source: ConvertKit).
The remaining creators work the following number of hours per week (in order):
- 30-40 hours
- 20-30 hours
- 40+ hours
- 15-20 hours
- 12-15 hours
- 10-12 hours
- Less than 10 hours
9. The most common way full-time creators make money is through consulting and coaching (source: The Tilt).
Full breakdown is as follows:
- 62% monetize their content via coaching and consulting
- 39% monetize via online courses and workshops
- 27% monetize via books
- 23% monetize via affiliating marketing/links
- 21% monetize via speaking fees
- 17% monetize via memberships
- 15% monetize via ads
- 14% monetize via sponsored content
- 14% monetize via online events
10. 5% of creators say they do 0-10 sponsored posts per year (source: Influencer Marketing Hub).
Full breakdown is as follows:
- 4% say they do 10-20 posts per year
- 8% say they do 20-30 per year
- 1% say they do 50+ per year
- 4% say they do 30-40 per year
- 7% say they do 40-50 per year
11. Overwhelmingly, creators say their highest earning revenue source is brand deals (source: Influencer Marketing Hub).
Full breakdown is as follows:
- Brand deals: 68.81%
- Ad share revenue: 7.28%
- Starting their own brand: 4.78%
- Affiliate links: 4.57%
- Selling courses: 4.37%
12. The #1 topic full-time creators create content about is entrepreneurship (source: ConvertKit).
Other topics covered by these creators include:
- Personal development
- Marketing
- Small business
- Online business
Among “hobbyist” content creators, the most popular topics are:
- Personal development
- Art
- Design
- Crafts
- Mental health
13. Revenue is the #1 metric creators use to evaluate their success (source: ConvertKit).
Other metrics (in order) include:
- Engagement
- Number of email subscribers
- Number of followers
- Number of website visitors
14. Full-time creators are most likely to work from a home office (source: ConvertKit).
Full breakdown is as follows:
- 4% say they work from a home office
- 1% say they work from home (but not in a home office)
- 4% say they work in an office space (but not a home office)
- 5% say they work from a coffee shop
- 6% say they work in a co-working space
15. Professional content creators say email is more important to their business than social media or paid ads (source: ConvertKit).
Finally! I love seeing these numbers!
Full-time creators rate the importance of email to their business at 8.3/10.
These same creators rated the importance of social media at 7.4/10 and paid ads at 6/10.
17. A website builder is the #1 tool creators need to run their business (source: ConvertKit).
88% of creators say they have a website and therefore need a website builder. Other tools professional creators use include:
- Email marketing tool (81%)
- Sales tool (80%)
- Landing page tool (78%)
- Community platform (55%)
- Course tool (45%)
- Social media scheduling tool (34%)
- Membership manager (28%)
- Patronage tool or tip jar (20%)
17. On average it takes 17 months for a content business to earn enough to support one person (source: The Tilt).
Additionally, it takes an average of 6.5 months for content creators to earn their first dollar.
Having access to the right tools and support can significantly reduce the time it takes to start generating revenue.
How to Become a Creator and Start Generating Revenue, Fast
Having access to the right tools and support can significantly reduce the time it takes to start generating revenue. Instead of taking months or years, you can hit the ground running and start earning money almost immediately.
In our Authority Creator™ program we give you ALL the tools, templates and support to start generating $10K/month as a content creator.
Inside the Authority Creator™ program you’ll get:
- Unlimited funnels and a funnel builder
- Unlimited websites and blogs with a website builder
- Unlimited email campaigns and automations
- Two-way text messaging and text message automation
- A social media scheduler AND complete social selling system
- Unlimited pipelines and a customer CRM
- Complete contact conversation and activity history
- Invoicing and easy payment links
Not only will you get ALL of the above, you actually get a fully built account, already loaded for you with our proven, pre-designed funnels, automations, email & SMS campaigns, all your calendars and pipelines tailored for your needs.
And, you'll get access to a private community of business owners just like you with 12 months of weekly coaching calls to get the support you need and know you're doing it right.
In other words, we give you a business in a box and support you along the way!
This is truly the BEST way to hit the ground running with your very own, lucrative content creation business.
The Authority Creator™ program is currently accepting new partners, so don’t miss out. Click here to schedule an application call today!
I can't wait to chat with you!
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Such a great article, thank you for sharing this kind of blog.
Nice Informative Article.
Great post. this post is very helpful for me.
Thanks for the kind words, Zack! It’s great that the post was helpful for you. If you have any questions be sure to let me know!
Thanks for Sharing a very useful and awesome blog post.
Great post please keep me updated
great post please keep me posted
We’re glad that you think these tips are very good! The great thing about them is that you can certainly customize them to fit what works best for your business. Try it out and see how it goes.
That was an insightful article,
thanks for sharing.
Thanks for your kind words! I’m glad you found it insightful. There’s so much potential in the creator economy and it’s inspiring to see what tremendous achievements many creators have made.