Top 5 Creator Economy Trends You Should Know in 2022
Over 50 million people are joining the creator economy, and It’s expected to boom in the next few years.
Forbes reported that being a YouTuber has become the career of choice among kids today in the United States. Being a Doctor, Lawyer, and Musician are no longer the top choices. The statistics will tell you why.
Two million creators across the globe are already making six-figure salaries from their online content. Plus, businesses spend almost $8 billion to hire social media influencers for promotion and sponsorship.
If you’re an aspiring content creator, this article is perfect for you. Here, you’ll learn:
- What are the current creator economy trends?
- How did the COVID-19 pandemic affect the creator economy?
- How to make the creator economy more stable?
- And many more…
5 Creator Economy Trends in 2022
The creator economy significantly expands
The creator economy is currently valued at over $100 billion and is expected to grow bigger in the following years.
It’s easier for creators to connect with their audience and build collaboration with brands because of many creative marketplaces and creator tools, such as TikTok, Facebook, LinkedIn, and Instagram. These social media platforms will also enable content creators to build their e-commerce businesses.
If you have a lot of followers, the promotion of your products or services online will no longer be a problem. You can create a promotional video about your business and post it on your accounts.
TikTok has become a game-changer
According to Backlinko, there are over 1 billion monthly active users on TikTok. As of June, TikTok had been downloaded 383 million times in the first six months of 2021 alone, making it the most popular non-game app.
In the same year, TikTok was the seventh most popular social media app, although it was only released in 2016. In terms of monthly active users, TikTok has eclipsed other social media platforms in the creator economy like Twitter, Reddit, and Snapchat.
Livestreaming platforms gain more popularity
This year, live streaming is expected to continue as a significant social media trend as more platforms offer live streaming and more individuals participate.
In 2020, Facebook, Instagram, Twitter, and YouTube introduced multiple ways for users to stream live and pre-recorded content. A mere 23 percent of the world's viewing time is spent on live material, while the remaining 77 percent is devoted to watching on-demand content. Livestreaming also allows content creators to receive gifts that are convertible to cash.
Memes are everywhere
Isn't everyone a fan of memes? According to our predictions, static and video memes will be even more popular in 2022.
In the creator economy, it’s essential to make your content relatable and more human. This is where memes come in. Even businesses and companies use memes as part of their content marketing strategy.
The more people see it, the more likely they will buy from the company or follow a content creator. The best memes also have the potential to last for decades.
NFTs shape the creator economy
Non-fungible tokens (NFTs), like social tokens, are similarly transforming the creator economy. As of mid-February 2022, the NFT-based crypto art industry was valued at over $2.3 billion, indicating the potential opportunity for artists to access new monetization channels for their work.
It is possible to make money quickly and easily from the fans of a creator using social tokens, while NFTs offer an additional layer of scarcity. Exclusive rights to an artist's work can be sold for a profit through NFTs.
According to Guru, Crypto assets will undoubtedly play a major role in the creator economy this year. We can expect to see many innovative ideas from young digital natives.
Online communities are a major trend
The global pandemic paved the way for the rise of the digital and screen-based medium. Many companies have shifted their focus to online community platforms to foster deeper connections with their target audiences, consumers, and clients.
In 2020, people felt compelled to connect with friends and family online and join various groups and communities that aligned with their interests, hobbies, or careers.
While some businesses and content creators have experimented with investing in online communities, they had to swiftly adjust and rethink how to best support their industries, keep members engaged, and keep them coming back for more.
With the ongoing digitalization, it's safe to say that online communities will continue to add value to the creator economy. Platforms like Discord and Backspace are great tools to build online communities.
How did the COVID-19 pandemic affect the creator economy?
We’ve been forced to stay online as much as possible because of the global pandemic. Many individuals are now spending more time on the internet than ever before, watching countless videos on YouTube, reading blogs, and listening to podcasts on interesting subjects.
As a result, many content creators are inspired to post their craft and videos online regularly to build an audience. Businesses also benefit from working with creators to get their products in front of new customers.
During the pandemic, content creators who have a large following were approached by brands and have collaborated with other companies. Those who received more opportunities also created small enterprises.
Despite the economic crisis brought about by the COVID-19 pandemic, the creator economy boomed, providing many opportunities for content creators.
How to make the creator economy more stable?
Creators increasingly realize the value of integrating the community into their social media presence and networks through platforms like Backspace.
To avoid the constant conflicts with social media platform algorithms, the community helps build stronger relationships with followers and provides a way for creators to explore new revenue sources with members.
Tokenization and the development of recurring revenue models through subscription community spaces are two of the monetization approaches that creators are employing. Creating a personal brand is a long and arduous process that requires patience and perseverance.
Keep in mind that you don’t own Facebook, Instagram, YouTube, and other social media platforms. If something wrong happens with one of them, your account will be affected. The worst-case scenario would be you might not retrieve your account and lose contact with your followers or subscribers.
With this, having an online community would be the best alternative. You can still keep in touch with them no matter what happens to your YouTube channel, website, or social media account.
Try Backspace! Our cutting-edge technology will help your career as a content creator more stable. We want you to have the best tools and platform possible to achieve your goals.
The increasing number of people joining the creator economy will also increase the competition. You need to innovate and explore other ways to make your content engaging and valuable to your audience.
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