After finding success on TikTok, Thomas Petrou co-founded The Hype House, a collaborative content house where TikTokers lived together, created videos and grew their following with Petrou’s guidance and support.
He’s one of many content creators making a name for himself in the creator economy – a relatively new concept, but since anyone can become a content creator, the potential for significant growth is clear.
In this post, we’ll explain exactly what the creator economy is and go over the key statistics marketers should know.
What is the creator economy?
The creator economy is where creators, from YouTubers to bloggers, share content with audiences and generate income from monetization opportunities. It also includes companies that creators launch to further grow their content.
Businesses also have a place in the creator economy; specifically those that create tools for creators to build their impact, reach and audience. For example, Patreon helps creators launch premium membership programs and Virtual Dining Concept helps creators launch restaurants in ghost kitchens. Creators will also continue to look to companies to provide the tools they need to achieve their goals, requiring companies to stay on top of trends.
Marketers are also affected by the creator economy, as social media users trust their favorite creators and influencers more than the brands they follow. As a result, creating an impactful ad for social media may require partnering with influencers who have an engaged audience that trusts their recommendations.
The creator economy just needs to grow. With this in mind, it’s important to stay up-to-date on the current state of the creator economy; below we’ve compiled a list of statistics to prove it.
Creator economy statistics for marketers to know
General creator economy statistics
- 30% of 18- to 24-year-olds and 40% of 25- to 35-year-olds call themselves content creators. (HubSpot blog)
- Creators are more likely to be young (63% Gen Z) and female (48%). (Global Web Index)
- 46.7% of creators are full-time creators. (ConvertKit)
- The main types of creators are educational creators, bloggers, coaches, writers, and artists. (ConvertKit)
- 37% of niche creators have participated in a brand collaboration at least once. (Linktree)
- Full-time creators use an average of 3.4 channels for audience engagement. (ConvertKit)
- The average time spent creating content each week is 1-5 hours. (Linktree)
- Content creators say their biggest challenge is getting their content found. (the inclination)
- 61% of content creators say they post for fun, 34% post because they are passionate about the content they share, and 31% post to explore a potential new hobby. (Global Web Index)
- The most common creator launch platform in 2021 was Instagram. (ConvertKit)
- 58% of creators produce 2-4 types of content. (Linktree)
- Most often, full-time creators create social media posts, emails/newsletters, and blog articles/posts. (ConvertKit)
- 52% of marketers trust creators to strengthen their social community and 41% say they want to work with content creators to promote their brand values. (Sprout Social)
- The most common types of content marketing that creators hire to do are educational content, unboxing, or reveals and testimonials. (Sprout Social)
- The highest earning creator types are educational creators, trainers, podcasters, influencers, and marketers. (ConvertKit)
- Most content creators share between 0-10 sponsored posts per year. (Influencer Marketing Hub)
Creator Economy Revenue Statistics
- Currently, the creator economy consists of more than 300 startups. (Club of Influencers)
- The creator economy market size is currently estimated at $104.2 billion. (Club of Influencers)
- The total valuation of creator economy startups was $5 billion by 2021. (Club of Influencers)
- Most content creators say their highest source of income is brand deals. (Influencer Marketing Hub)
- It takes an average of six and a half months for content creators to earn their first dollar. (the inclination)
- Content creators prefer to monetize their content on Instagram and TikTok. (Influencer Marketing Hub)
- Full-time creators leverage 2.7 streams of income on average. (ConvertKit)
- 59% of new creators have yet to monetize their content. (Linktree)