Creator Economy Startups to Know in 2022

The creator economy is a relatively new term that came into existence a decade back. It has expanded dramatically in recent years, with more people generating content than before. Creators of unique content now have the power to monetize their abilities in these game-changing communities. The creator economy market is growing at a surprising rate owing to the rising popularity of digital media, internet access, the impact of influencers on their audience, and a lot more. Moreoever, size of the creator economy is expected to reach over $100 billion.

What is the creator economy boom?

While it might seem straightforward to say people create content and earn from it, this was not the scenario earlier. For many decades, the "big media" ran the world of content, news, and entertainment. A few organizations or so-called "media giants" controlled what people read, viewed, and listened to. However, the Internet gradually changed things.

Though it was a slow and almost insidious process, it became more evident and now prominent over time. As a result of this, modern content creators gained the confidence to create content and bring it to the table without the need for support from traditional organizations. This is the era of the creator economy, and it is prominently different from what it was.

How does the creator economy work?

So before getting into how it works, let's first see what the creator economy is. The creator economy space consists of content creators, fans, and advertisers (Brands). Content creators create exclusive content for their fans to enjoy and to attract brands to partner with them in promoting their products and services. Paid promotions can be in the form of sponsored posts on social media, product placements in their videos, and shootouts during live streams.

Research states that modern audiences don't respond well to old advertising methods these days, which enhances the significance of the creator economy and its role in a brand's marketing strategy.

Content creators can also sell online courses, eBooks, podcasts, etc., on their own website in exchange for one-time payment, subscriptions, tipping, or donations.

Currently, social media remains the primary platform for content creators to popularize and monetize their content. In turn, creators get a share of the advertising revenue generated by their content or brands pay them upfront for the work they perform.

For e.g., popular adult content platform like Patreon allows creators to accept subscriptions, crowdfunding, and donations. But it takes a small commission (not exceeding 20%) from the creators' earnings.

Popular Creator economy Startups to know in 2022

With the emergence of the creator economy, many platforms coupled with monetization tools started becoming prominent, driving the economy. Platforms like Instagram, YouTube, Twitch, etc., allowed creators to make a living through short video content, live streaming, etc., to reach their audience and monetize their content.

Many startups have emerged to serve the various needs of these content creators and are reimagining the ways creators connect to fans, produce content, and run their businesses. They have caught the attention of investors who have invested hundreds of millions of dollars in these companies.

Now let's explore some of the startups in the creator economy space that helps content creators to bring in creative selves and make money.

OnlyFans

OnlyFans is an adult subscription platform where content creators can monetize their influence. Content creators can lock their content behind a paywall that users can access for a one-time payment or a monthly fee.

The platform caters to sex workers, models, artists, musicians, and celebrities to monetize their influence. Not just adult creators, anybody who has unique content to offer their fans can use the platform. However, OnlyFans is popularly used by adult content creators and models who upload exclusive pictures and videos and interact with their subscribers through direct messages.

OnlyFans strictly ensures that the content cannot be shared without the paywall. For example, even if a fan tries to take a screenshot, the platform returns a black screen instead. Users trying to record the screen or snap a screenshot will be banned. The platform takes content privacy seriously and doesn't tolerate copyright violations of any sort.

Patreon

Created before OnlyFans, Patreon is another subscription platform that connects content creators with users. The platform also comes with monetization tools that let fans subscribe to creators and help them earn a sustainable income stream.

As the name suggests, the platform adopts a modern approach to the old concept of patronage. Back in the day, creative people like musicians, artists, writers, and painters, relied on the patronage of wealthy donors to monetize their work.

Patreon takes the core concept of patronage and allows a much larger audience to access modern content creators' creative works for a price. Patreon is mostly used by artists, YouTube, podcasters, writers, and even musicians.

Allowing creators to set up subscription tiers, the platform also allows casual fans to pay a low rate or subscribe for over $20 per month based on their level of dedication. Funders who are ready to splurge premium prices get access to exclusive content that is not accessible to fans opting for lower subscription tiers.

iFans

iFans is a content creation platform designed by creators for creators. The platform allows the content creator to sell their live streams, content, direct messages, and more. iFans have great referral systems that will help creators earn more money. A creator can mention or tag another creator in their posts and split 50%-50% of all the recurring sales the creator refers to another creator.

What would be the next creator economy Startup?

While there are several membership platforms, including the ones mentioned in the list, the need for more creative platforms cannot be neglected. Despite fierce competition, there is high demand for subscription platforms, which is the chance for entrepreneurs to create their own subscription platforms.

Fanso is a fully customizable white-label software to build your own OnlyFans or Patreon –featured OnlyFans-like website with no bans on adult content. This full-featured clone script doesn't require any coding and helps to launch the OnlyFans-like website immediately. This serves as a great approach to creating and launching a private content creation subscription platform of exclusive content under your own brand with no restrictions.

Conclusion

The creator economy is the ultimate way talented minds can express themselves and generate revenue. With several creator economy startups emerging, the space is evolving, and new opportunities are arising. 2022 is undoubtedly a fantastic year for entrepreneurs to enter the creator economy by building subscription platforms like OnlyFans.