New Creator Economy Paves New Ways to Earn Money

The phenomenon of the creation economy is even more significant than the theory of the “creative class” would suggest

Creativity has always existed in society. In the past, there were few ways for creative people to make a living. Today, there are many new ways for creators to make a living, thanks to social media and Web 3.0.

With recent development in the Creator Economy, the internet has decentralized the media and along comes with a new concept of totally new ideas where all types of digital media can be monetized .Many different kinds of content including photography ,short video , short films all created by ordinary people like ourselves all allowed to be posted and monetized by Alongside this, new payment methods by cryptocurrencies and ways of earning money have been developed ( especially if they are not controlled via banks ) that make the whole process more manageable and viable.

The emergence of the coronavirus in January 2020 has evolve this new process and has actually strengthened it ,the progress to stabilize this new creator economy was actually caused due the many lockdowns in every countries and an increase in unemployment, people are searching for new ways to make money. They’re also spending more time to search for content to fill their increased leisure time.

The creator economy is a subset of the passion economy. Passionate creators usually do this to earn a steady income. In the past, this type of work was done mostly by hobbyists, but today many creative people find a way to turn their passions into money.

Why spend your days working in a minimum wage job when you could earn a good living from doing something you love?

From estimate , we believe there are more than 60 million people around the world consider themselves to be creators. Of these, 70 % consider themselves to be newbies just joining the trade , and the other 30 % are the back backbone of the new industry as they are consider to be professionals, making enough from their creative passion to consider it their full-time job.

At least half the professional creators (one million approximately) make their money from YouTube. 25% of these creators (500,000) make their money through Instagram, primarily as influencers. Another substantial platform for professional creators is Twitch, with 300,000 professional streamers. The remaining 200,000 (approximately) earn their creator income from other sources, such as acting, online fitness trainer , Makeup artist and many more

A large number of amateur creators are still able to make some income from their creations. The largest group (30 million) makes their money as Instagram influencers. Another 12 million amateur creators make their money from YouTube, most of them will have millions of followers to their own account and some each of them will mostly have their self learned digital marketing exposure and are able to promote niche products at their choice or theorugh affiliate marketing and even become Brand ambassadors

The Basis of the “Creator Economy”

People can’t become creators without platforms to create on. These include both social channels and specialist content channels.

Modern technology has enabled many creators to enjoy their passion without spending large sums of money on equipment. For example, nowadays, everyone with a smartphone has a good quality camera in their pocket. Even video enthusiasts have a simple phone camera, not only for recording, but also for taking good photos. Writers can now use laptops or tablets for writing, or even smartphones for writing.

What a time , technology and Geeks has come together to make creators life as mobile on the Go , and they can work , as and when they see fits and always on the move . Grab a photo shot , do a dance by the road side , snap and write a short story while enjoying some cakes by the coffee shop , and simply be seen around in events , to do selfies and can promote anything to their followers who get thier Live broadcast ,providing update , as usually they are from the ssme groups of like minders sharing and discuss realtime on opinions, ideas, or interests

Today, more people are creating and selling things online than ever before. The creator economy which are supported by some major companies like Medium , Buy me a coffee , Circle , cloudjam , Glow- podcaster , Caffeine ,Gumroad , Zebra and Patreon is developing into the creator economy and there many startup sprouting up everywhere .

The income generated by some creators comes directly from those who use their services. In the past, the main source of income was salary or wages. Now, technology has made it easier to do work for others online. Anyone with a smartphone or laptop can take advantage of this opportunity.

Initially, the creator economy mostly consisted of people with particular skills sharing them online, usually by teaching them on a platform like Teachable.

However, the development of creative social media, such as TikTok and YouTube shorts and instagram Reel , has led to new influencers without any existing creative skills, like the previous video making expertise, to just hit throuh the roof with sometime “ Totaly creative , astounding clips ..that let them broke the millions record.

Even though it’s easier to make money from teaching online, you can still earn a decent living from it. With over 200,000 new courses and 17,000 products being launched every month, Udemy and Teachable saw their sales reach $1 billion in 2020. The average price of a course is $160 and the average one-time payment for a course is $120, and thousands are online everyday to pickup skill , from cooking, photography , live video shooting , public speaking , and many others . Udemy is one of the most proactive , and they even provde their own marketing program to support their creators .This way both the platform owner and creators benefits from their digital marketing efforts

Social media’s role drives the creator economy at even faster speed

The phenomenon of the creation economy is even more significant than the theory of the “creative class” would suggest. In order to succeed as creators, it is necessary to possess certain skills. In particular, you need a large and engaged fan base. Social media helps create this fan base. At the same time, you need an audience for your content. Through social media, you are able to share your content with an audience who might not otherwise

Social media started out as text-based platforms in early 1993 , but now with Web 3 decentralization , most platforms allow users to share images, videos, and documents ,it may be text-based, blog-like, it may be social networking, business networking, video sharing, or virtual world, and much more.

While much of the creativity doesn’t occur directly on social sites and video channels, they provide a comparatively cheap way to market your creativity. Some creators, like those who appear on popular channels on YouTube and live streaming networks like Twitch, also double as platforms hosting the creators. In some cases, these social sites and video channels can also be the venue for your creativity and People who create their own content often share it over various social media platforms. They also share links from other social media platforms so that their reach is widen on a global scale , which means with web 3 , if one is good in Internet marketing , the creator can actually promote their products throughout the world

Dedicated Content Sites

Specialized content sites like Spotify and iTunes have provided a way for musicians to distribute their music without having to sign with a major music company. They allow musicians to create their own songs, and distribute their music independently.

Anyone can write a book and sell it on Amazon, but in order to reach the highest sales levels, you’ll need to work hard to market your book effectively.

A way for writers to make money is to have a blog where they can write about whatever they want. The options include having a blog that they charge memberships or a blog that they work for as a contract writer. They can also write on a more general purpose blog, like Medium, Quora , Vocal and many others

As we have previously observed, many creators make money on Teachable, Udemy, Coursera, Skillshare, and other course creation platforms, as it carries more value for prepare specific online courses and demand is usually quite high

The Creator Economy Will become More Value added

Although creators who use the Internet often make more money than the average jobless person, before the creation economy, many of these creators would have been unemployable or at very least employed in a much lower level job. All these people have talents, but previously they would have been unable to monetize their passions.

With the new technology of the Internet, people are now able to unlock their creative potential and give it value. Previously, people who might have been discouraged from engaging in creative pursuits had the potential to advance their skills and find a market for their activities.

So, people who might have been discouraged from participating in the film industry could teach their skills online and earn money instead of having to arrange in-person classes as they would have done before.