Meta Commissions New Report That Highlights The Current State Of The Creator Economy

If you still possess a very vague picture of what the entire creator economy looks like and what are the economics in question, then we’ve got some news for you.

Meta has commissioned a new report on what the current situation linked to the creator economy is all about and different chances to avail, in light of it. This has things such as positive insights regarding the future of such platforms and also how it’s a machine for new and creative talents out there.

As it is, the metaverse is the company’s latest project and it really has invested a lot. It needs all the publicity, attraction, and viewership that it can get in this regard. To help better put things into perspective, let’s take a look at some curious findings.

At the moment, today’s creator economy is predicted to churn out more than $100 billion in 2022. Next up, around 60 million Americans comprise the term Creative Class and these are in regards to estimates. This is a clear representation of nearly 40% of the workforce out there today. Today, more than 300 different digital creators are present around the globe and these are people who are really making some great financial returns with all of their creativity at hand.

It just all sounds so inviting. We’re seeing people earn more funds from doing what they love. What can be better than that right? But wait, let’s glance over the listings set out for things like the average annual earnings of creators.

The report showcases how only a small number of creators actually make their living through such work and only 10% of the creator economy is making a revenue that exceeds the $100,000 yearly benchmark.

You have to understand that it’s the big names like actors and actresses and socialites that are really earning some big bucks but it’s not whole representations of the majority of others that just don’t have the same reach as these stars.

So while the platform might be gaining a major chunk of the profits out there, the creators are not. A lot of creators out there are super passionate and there’s just a huge number of people that are activists and motivated by causes other than making funds or gaining fame or collecting followers.

These people don’t actually want money so that’s all great. And they’re also a part of the economy of creators, as Meta has showcased in its report. Next up, the report is shedding light on things like rewarding creators for efforts and with time, it’s actually improving.

The concept is skewed and we might be seeing things like the Creator Economy pushing firms far away that fail to benefit from the likes of creators while the latter aren’t even getting the benefits they deserve. So what’s the solution to the problem, if any?

Meta’s report is highlighting factors like putting forward better options for tipping creators and adding new subscription models. Then there are the likes of amplifying algorithms and making way for less-known creators.

An increase in direct funding can help those that are less known than others and also, aiding with the likes of collaborations between established and lesser-known creators can even help.

This also paves the way for the government to come forward and boost up the creator economy with the likes of funding initiatives that not only add stability but pave the way for those with creative talents out there.

So as you can, while it may be called the Creator Economy, it’s just not that yet. And if you don’t agree, then you’ll have to acknowledge how it’s not equitable by any means.
Read next: Meta Marks The Season Of Giving By Matching User Donations To Different Charities
Previous Post Next Post