If you are browsing through social media, watching videos on Youtube, or if you’re just online, chances are you encountered a content creator. There are about 50M people in the world who consider themselves content creators. Although it has steadily risen in the past, the pandemic became an avenue for a new breed of personalities besides the usual TV and movie celebrities. Welcome to the creator economy.
The creator economy is defined as the class of businesses which are made of content creators, curators, social media influencers, bloggers, and videographers that use software and tools to grow their followers. According to Antler’s Creator Economy Report, the creator economy market has reached an outstanding US$104.2bn. With more people considering creator as a full-time job it is expected to grow as companies invest US$1.3bn into the creator economy space in the coming years.
Back then, established organizations like TV networks, news publications, and radio stations are the only ones capable of creating content. But now, anyone with an internet connection and a camera phone can produce content. This new line of profession is just another step to empowering anyone just as Web3, DAOs and no-code are doing. In this blog, we will see how no-code has helped in the growth of the creator economy and what the future holds for these trends.
Creator economy is about an individual or a group creating visual content or an actual product and putting it up on a platform. It can be a video on Youtube, an artisan necklace on Etsy, or even a well-edited photo on Instagram. If someone sees it or engages with it, then it can earn money. They can earn upfront from selling, sponsorships and memberships for exclusive content.
Click-through rates or number of views
Subscriptions
Sponsorship deals
Social media advertising
Search-engine advertising
Direct sales
Partnerships
Paywalls
Even though this sounds lucrative, pay is unstable and platforms will earn off these creators, Some platforms charge listing fees and some even take a fraction of the advertising revenue. This is why businesses are keen on the middle-class creator economy. These are budding creators who might be willing to shell out to be highlighted. Going viral is not yet an exact science so even platforms don't know what will be the next big thing. Platforms earn from a huge number of smaller creators rather than hundreds of successful influencers.
This is where Web 3 changes the game. It shifts the power dynamics from the platforms toward the creators and community. Click HERE to read more about Web3 and what it means for the future.
With Web3 opening up the possibility of decentralization of content distribution, no-code becomes a tool for creators. To grow the creator economy in the past few years, it required platforms that can support the creation, distribution, monetization, and business management of these individuals. No-code development empowers more people to become creators and lets creators have the power over their distribution.
No code platforms let creators access other technology like AI, blockchain, and DAOs that can definitely help their solopreneurship. Now they also have access to creating NFT collections as well that can be in line with their brand.
No-code is a perfect tool for the creator economy since most of them probably aren’t that techy. Let’s face it there’s a small percentage of people who can build apps or websites from scratch and it will usually take them years to learn it and another number of years to build it. No-code can encourage the middle-class creator economy for a number of reasons
You can start building to promote your product or service with just a few gadgets. You can set up your own website for your custom bracelets and never pay for commissions when you’re using other platforms or even launch your own TV show. Some internet shows start with bad lighting or video but the content will always be important
You can decide what areas of the business will you invest more or less in. You can automate if things are too heavy already to handle or if you have enough earnings to invest in this project.
The New Creator Economy report says that 29% of American high school students have said that they want to be a “creator” when they grow up. This reflects the changing landscape of work from traditional to gig and freelance economy. They are aware that technology has opened career choices that were unavailable back then. On top of that, the pandemic also gave birth to countless creators who thrived even after the lockdown. Numerous businesses also sifted and became more profitable after it. As Gen Z sees it, the corporate life is an option and not a mandatory to earn money.
Technology is also gearing up to be user-friendly with a low learning curve. They are even opting to include more visual programming in their platforms which will benefit creators. Web3 will also be a crucial contributor that will allow a more fluid relationship between creator and their community.
By lifting the tech and means barrier, we will see a lot more people share what they know and create online. Not only does this mean additional knowledge but also gives attention to things or happenings that matter. The empowerment of the creator economy is the same as what no-code can do for app and web development. The tools of the future such as builder platforms and no-code builders help creators develop a direct connection with their audience.
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