There is an immense opportunity to forge a “Creator Middle Class”: Meta report
Meta report, written by researcher and professor Richard Florida, explores the trends and opportunities presented by the creator economy.
More and more people today are earning a living by creating engaging content. As Meta and other technology companies embrace this shift toward a more open landscape of entertainment and education, Meta report says that it is important for them to more deeply understand the scope of the creator economy, its broader economic impact and what’s driving individual creators.
In its recent report The Rise of the Creator Economy, written independently by Richard Florida, author of The Rise of the Creative Class and founder of the Creative Class Group, Meta offers a comprehensive view of the world of individual creators, which Florida defines as those “who use digital technology to make and publish unique creative content audiences can access and respond to.” Some highlights include:
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- The creator economy is forecasted by some exploratory studies to reach more than $100 billion: According to data and studies reviewed by the report, creators number between 30 and 85 million Americans, and an estimated 300 million people globally, with as many as 17 million creators earning money by selling their digital content as of 2017.
- How creators get paid: A significant source of earnings for Creators is through sponsorship deals with major corporations or so-called brands. Some of this takes the form of sponsored content in which Creators are paid for their posts. Brand deals comprised more than three-quarters (77 percent) of surveyed Creator earnings in 2021, according to the survey by Influencer Marketing Hub and NeoReach.
- Most creators are motivated by intrinsic rewards: Many creators are passionate hobbyists, and a growing number are social and political activists, principally motivated by the desire to make an impact and serve causes bigger than themselves rather than money, fame or follower accounts.
- There is an immense opportunity to forge a “Creator Middle Class,” which supports the idea that more creators who choose to can make a decent living, and if championed and protected well, can create a stronger, more sustainable creator economy to thrive in the decades to come.
You can access the Meta report here.