The Creator Economy is a class of businesses built by more than 50 million content creators, curators, social media influencers, bloggers, and videographers that use social media, platforms and finance tools to assist them with their growth and monetization. The Creator market, which is combined with an influencer marketing industry size of $13.8 billion in 2021, and hundreds of new startups, brings the total Creator market to a size over $104.2 billion and is increasing daily.
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The Influencer Marketing Factory completed a survey where it studied the creator economy market from both the user and creator perspective. This survey was focused on users and creators to understand the preferences of a creator when making content and how much they are able to monetize, while also understanding how users like to support their favorite influencers and which platforms they use most.
After analyzing its results, The Influencer Marketing Factory narrowed down six main findings. Which include:
- Content Creators’ favorite platform is TikTok (30%) followed by Instagram (22%) and YouTube (22%). They also said that these three platforms are also where they make the most money: TikTok (24%), Instagram (22%), YouTube (20%)
- 58% of users say that, in the next 12 months, they would pay a monthly subscription fee between $1 and $15 to access their favorite creator’s exclusive content
- Creators’ main source of income is brand deals (31%), followed in second place by their own brand/business (25%) and creator funds (15%)
- 63% of users have tipped creators at least once
- Favorite creators social media by age: 18-24 prefers TikTok over target 54+ that prefers YouTube. Instagram is consistent from 18 to 44
- What drives users to support creators: (1) they try to support them in any circumstances, (2) they feel inspired by the creator, (3) they trust (almost) everything they advertise
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