What the Heck is the "Creator Economy?"

I started my first blog Jewelry Dose Daily in 2010. Back then there wasn't too much talk about the 'creator economy.' I'm not sure if the term even existed. Today in 2022 the 'creator economy' is a hot topic. 

Some may be asking "well, where did this creator economy come from?" or "When did it start?" ..and most importantly "What the heck is it!?" I'm going to address all of that here. 

The in-vogue nature of the topic is new. The Creator Economy is not.

Firstly, it may help to understand that what we now call the creator economy is not new, even though the term may be newly or more frequently used now. The creator economy existed when I started that first blog over ten years ago in 2010 and even before that - even if most of us didn't know about it. Nevertheless my little blog started to generate ad revenue when viewers clicked ads while visiting the blog and just like that I became a creator in the creator economy. (Sure, it's a good feeling!)

Economy:

The Oxford dictionary defines an "economy" as "The wealth and resources of a country or region, especially in terms of the production and consumption of goods and services." In the sense of the creator economy you can sub in the entire internet space for where it says country or region.

What is the creator economy?

The phrase "creator economy" describes the environment / space in which "creators" generate income - namely on or using the internet. If you create online and earn money for that creation in some way, you are engaging in a creator role* in the creator economy. "Creators" is a loose term. Essentially it means anyone who creates and in the context of the internet, it means anyone producing content whether written (like a blog), recorded video, livestream video, or audio. Those are the main formats but there are others.

The opportunities to create 'for money' (in a "monetized" fashion) on the internet existed back in 2010, but those opportunities as you might expect, have become more numerous and accessible today. Earning an income online (part or full-time) as a "creator" has also developed more legitimacy in the last decade. It has gone from something seen culturally, perhaps, as in the shadows or shady to something that is viewed as absolutely legitimate and mainstream, nearly akin to any 9-5. 

The interesting thing is, even with all the talk about it lately, some people still do not know about it - and by 'it' I'm talking about the creator economy itself and or the opportunities that are available within it. 

Choosing online 'creatorship' as an occupation certainly won't be of interest for everyone. Like any  business or freelancer opportunity, there is a learning curve to becoming a creator and no guarantee of a certain income. In that regard it is different than being an employee with a guaranteed paycheck, but not much different than any other small business. 

Furthermore the activities of writing, blogging, filming, creating digital products like courses, livestreaming, recording audios or creating in general are just not everybody's cup of tea. That said, I still think people should at least be aware of the creator economy and their options within it. 

Within your local town's economy some examples of opportunities are to open a bakery, a local tax accountant office, or to be a go-to tailor. Of course there are countless others. In the (internet) creator economy some opportunities you can try out are: Ad revenue supported blogging, Starting and meeting the requirements for an ad revenue supported YouTube channel, or even livestreaming or creating subscription content for fans. There are so many other opportunities that exist within the creator economy and those are just to name a few. 

Like any independently operated small business or freelance activity, of course hard work is usually involved and there are no guarantees. That said, just as with any economy in general, the opportunities and earnings potential can be numerous. When it comes to the internet creator economy, they just keep growing as platforms create innovative ways to enable users / creators to get paid. 

Hopefully after reading this post, you gained some insight into what the creator economy is and how to get involved in it if it is something you are interested in. 

If you're interested in the creator economy or creating content, I invite you to join my Facebook group The Content Journey.

- Melissa

Photo credit and further reading

*Not everyone who creates media or content on the internet automatically generates income from it. There are particular actions one needs to take to make money from their content. We are all creators in a sense if we post on social media or online at all.  However, it is when someone creating is "monetized" (or generating income for their content creation) that they are truly considered a creator in the creator economy. Some creators earn pennies each month and some creators earn multi millions. It can also be said that if you are consuming content, you are on the consumer side of the creator economy. 

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