🧐 Is The Creator Economy Dead?

Goldman Sachs predicts it's worth $250bn. So probably not.

Author

Sanay Goyal
August 01, 2023

Hey everyone,

I was recently speaking to Musty about the obstacles involved in becoming a ‘creatorpreneur’ or, simply put, a content creator.

And it got me thinking. What’s going on with the creator economy now, and is it a viable option or side hustle for people to explore? So I dived into some numbers, to begin with:

  • There are 200 million plus creators worldwide

  • The creator economy is expected to double from $250bn by 2027

  • There are 4.2bn social media users worldwide

  • 66% of creators do it part-time

  • 15% of creators have full-time jobs

  • 59% of newbie creators don’t make over $100 in Year 1

  • 52% of creators who earn between $50-100k spend 10 hours or less/week

  • Only 4% of creators earn over $100k annually

  • More than 70% of people (not just creators) are considering different avenues to increase income

And the big one


  • Over twice the number of social media users want educational content rather than entertainment.

There are a lot of other interesting facts and figures that I would recommend you check out.

But the basic takeaway messages are:

  • Don’t expect to make any kind of money any time soon

  • Initially, it is a passion project, and there is scope to scale if you want

  • The creator economy isn’t going anywhere and is only set to keep growing

  • It’s definitely a viable option for anyone keen to get started

  • Create more educational content than entertainment to increase your chances of ‘getting lucky’

Over time, it can grow from a side hustle to a point where you can leverage it against your day job. Ideally, buying freedom in terms of time to do more of what you enjoy and less of what you don’t.

Personally, it’s been an incredible journey so far, and I have had the opportunity to meet people I wouldn’t have otherwise, such as Yath, Abdul and Amz, and Tommy. I have also learnt skills not otherwise taught at medical school, allowing me to ‘scratch my creator itch.’ I also think the future for many of us will be portfolio careers and not just ‘sticking to one lane’.

It is all about playing the long game and waiting for things to click into place slowly.

So for anyone who’s been on the fence and hesitated from starting their own creative journey - get going! The creator economy is only set to grow.

See you all next week!

Cheers,

Sanay

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🧠 My Recommendations

I have been recommended this book multiple times and have thus made a gentle start. It’s supposed to be THE BOOK for people who are not on ‘traditional’ routes for their chosen career choice or are somewhat confused about what decisions to make regarding their future!

I am a massive cricket fan, and the Ashes recently ended, so I listened to this. It’s hosted by Harry Stebbings (20VC) and his brother and is all about how sports biz works etc.

P.S. They cover all sports - not just cricket!

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