The world of content creation is rapidly growing in recent years. There are more content creators than ever before and most are individual creators. Platforms like YouTube, Facebook, Snapchat and Instagram have been on an uptrend for the past decade and there are no signs of slowing down. To denote the share of these creators’ creations in video, visual, writing and voice-based content throughout the world economy, the term ‘creator economy’ is coined. The creator economy is found to rise mostly on platforms like YouTube,Instagram and Facebook, where people can earn from views and traffic along with other ways through which they can influence their following.
VARIOUS PLATFORMS OF CREATOR ECONOMY
In the creator economy, creators make money directly from their audience. It consists of consumers and entrepreneurs that cater to their audience, advertisers and companies that market to entrepreneurs.The various platforms of creator economy include:
INFLUENCE OF ONLINE PLATFORMS AND SOCIAL MEDIA ON CREATOR ECONOMY
Online platforms and social media are the key factors for the growth of the creator economy. These platforms help creators to share their content which reaches the larger audience. With the increasing popularity of platforms like YouTube, Instagram and Pinterest, it has become easier for creators to reach a large audience and build a following. Creators now can make a living from their content without relying on traditional ways like record labels or publishers. Social media has played a vital role in the rise of the creator economy. By allowing creators to connect directly with their fans and supporters, social media has enabled creators to build a personal brand and generate income through sponsorships, merchandise sales, barter and fan donations. Not only does the online platforms provide a space for creators, social media have also made it possible for creators to monetize their content with very little effort.
Digital marketing has indeed transformed the marketing and economic scenario in the whole world. A well-strategized digital marketing plan can help content creators maximize their reach and increase engagement while earning a large sum of money. Some of the big Digital Marketing Agencies in India have even launched digital marketing services for the content creators such that they can focus on their skill, i.e. content creation and the marketing can be taken care of by other expert hands. Such is the potential of the creator economy in the present world.