The reality of finding success in the creator economy
Leaders from Might Networks, TikTok and Patreon join a panel to discuss.
it's important to remember that the creator economy actually has been around basically forever uh is only now that the tools and the technology um you know everything from five G internet and mobile phones to uh you know platforms like Tiktok and Patreon have existed to enable creators to scale their audiences and actually monetize them. Right? And so all of that together is kind of what's driving this phenomenon that our our ceo Jack Conte called the second renaissance, right? Which is that now anyone can be a creator and in fact everyone is a creator but now anyone can make a living as a creator and that's going to be transformed out like it's actually not really true. Okay. Yeah. Well it's just anyone could but the reality of what's happening is not that. So we actually um commissioned uh the largest independent study of creators done to date uh and we published it in october and we you know, we commissioned it went hands off. And actually what came back though was that yes there are platforms, yes there is the promise of the creator economy. But the reality of that promise is not there yet. And specifically uh we found and this was this was really striking um 93% of creators. And again this was the largest open market study of creators, 93% of creators feel that being a creator has created a negative experience in their lives and real emotional lows. And I think that when when we talk about the promise now actually there were some really interesting things that certainly came out of it, but when we think about um even for folks that aren't making money, the reality of building content and putting yourself out there trying to capture an audience and keep an audience, it's a lot harder than certainly other things that are currently emerging uh in terms of their ability to do these things well. So one of the other things that this, this study found was that there's this really interesting emerging vanguard of the creator economy around independence and creating an independent creators that are actually choosing a new approach which is based on ownership, not renting audiences from large platforms. And I think, you know, Patreon does an amazing job at this. And the large platforms like Tiktok or like instagram or like uh Youtube do a fantastic job of helping people find their audience. That now these independent creators are starting to really build into their own owned and operated experiences with niche is not trying to go broad, I love the candles. Uh and then doing so in a way that is much more about the community that they're building as opposed to just audiences and ultimately getting off the content conveyor belt into something that is much more sustainable and scalable that we've known about in Silicon Valley forever, which is building their own network effect