Global Digital Independent Creator Ecosystem Projected To Boost The Growth Of Global Creator Economy Market

Leena Shedmake

Global Digital Independent Creator Ecosystem Projected To Boost The Growth Of Global Creator Economy Market

The global Global Creator Economy Market is estimated to be valued at US$ 127.65 Bn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The global creator economy market comprises independent creators, communities and platforms that enable creators to earn income through various avenues such as social media monetization, e-commerce, streaming and direct-to-fan tools. Creators leverage digital platforms and tools to distribute original content, build engagement and earn money from their work. The rising digital independent creator ecosystem comprising of influencers, bloggers, podcasters, musicians, freelancers and content creators have emerged as the new economic workforce.

Market key trends:

One of the key trends in the global creator economy market is the emergence of new digital platforms that empower independent creators with monetization tools. Platforms such as YouTube, Instagram, TikTok, Spotify and Twitch allow creators to earn through advertisements, subscriptions, memberships, tipping/donations and affiliate marketing. The accessibility of digital tools is also enabling more creators globally to build their own brands and businesses. Livestreaming and virtual events have witnessed increased popularity during the pandemic and creators are leveraging these to engage fans and earn revenue. Blockchain technologies are further enhancing creator monetization through features like direct fan funding and non-fungible tokens (NFTs). This is expected to drive greater innovation and opportunities for creators worldwide.

Porter’s Analysis

Threat of new entrants: The global creator economy market has high barriers for new entrants due to massive investments in technology and content creation network effects.

Bargaining power of buyers: Buyers in the creator economy market have moderate bargaining power due to availability of substitutes and availability of many content creators.

Bargaining power of suppliers: Creators and content developers have moderate to high bargaining power due to lack of substitutes and importance of quality and engaging content.

Threat of new substitutes: The threat of new substitutes is high as social media platforms continue to launch new features to engage users and drive monetization.

Competitive rivalry: The global creator economy market witnesses high competition due to presence of technology giants and several niche players.

Key Takeaways

The Global Creator Economy Market Demand is expected to witness high growth, exhibiting CAGR of 22.% over the forecast period, due to increasing demand for quality content and personalization. North America dominates the creator economy market currently due to high mobile and internet penetration along with high disposable income of consumers in the region. The Asia Pacific region is expected to witness fastest growth in the creator economy market during the forecast period due to growing adoption of social media platforms and increasing digital consumption in major countries like India and China.

Key players operating in the global creator economy market are Bytedance, Amazon.com Inc., Meta Platforms Inc., Alphabet Inc., Spotify AB, Netflix Inc., Snap Inc., Twitter Inc., Pinterest, Etsy, Shopify, Patreon, OnlyFans, Teespring, Twitch Interactive, Discord, Cameo, TikTok, YouTube, Instagram. Bytedance and Meta Platforms are capturing growing market share through short video apps like TikTok and Instagram reels along with live streaming on Facebook and Instagram. Spotify, Netflix, Amazon and YouTube are expanding their paid subscriptions and advertising businesses to monetize creator content effectively. Emerging platforms like Patreon, OnlyFans, Teespring are growing rapidly by enabling direct monetization for creators through various business models.

Leena Shedmake

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