The Creator Economy

Following passion before technology was expensive and starving for creators. In earlier days, we got to see only a handful of actors, singers, activists, and entrepreneurs due to a lack of technology and network. But, times have changed. Almost all the people around the world have access to the internet and mobile. One person can show creativity, talent, and voice opinion to millions of people sitting in one dorm room. The best thing is creators can earn a living pursuing their passion. So how did we reach so far? And what's the way ahead? Let's find out.

Before social media, writing was referred to books, poems, sales copy; making videos was referred to shooting films, and recording was referred to singing and radio. After the boom of the dot-com bubble, many people started writing online journals based on their day, hobbies, and things they love. Later these journals were known as blogs. People started writing blogs to share information, experiences, and everything they loved. Later, bloggers started recommending brand products and services in their blogs. Brands noticed growth in sales as the niche of brands and readers matched. This way, bloggers got the opportunity to earn money while pursuing their passion: writing. You see, creators monetized their content and, this wonderful process is called Creator's Economy. After Social media sets foot in the game, it boosted the potential and generated opportunities in the creator economy space. How?

Popular social media apps like YouTube, Instagram, Facebook, TikTok, Snapchat, and LinkedIn gave a platform not just to writers but to all forms of creators to grow and earn. Creators left their 9 to 5 jobs, and some even dropped out of college to become full-time content creators. All thanks to the monetization of content and the people who support creators.

In today's world, a writer can blog, write a script for a video; an actor or a singer can make videos on YouTube; a comedian can start his own podcast. The opportunities are limitless for every creator. Today's creators have their presence on multiple platforms and multiple streams of income. Let's see how every social platform is contributing to the creator economy in today's world:

Other than social media platforms, content creators are growing their wealth through brand deals, merchandising, and launching their own brand. So are there any more unexplored opportunities left? The answer is Yes.

Besides entertaining and adding value, creators are turning into entrepreneurs and investors to create a change and boost their reach and income by building brands based on their niche, skills, and things they love. One of the best examples is Nas Daily itself. Nusier Yassin, a video creator made 1000 one-minute videos on Facebook and later launched Nas Daily Studios and Nas Academy. Another example from my land (India) is Ranveer Allahbadia. A YouTube creator who sold the exclusivity of his podcast: The Ranveer Show to Spotify for million of dollars.

The Creator economy is growing as people are recognizing its true potential. But as it's booming the competition is increasing too. To overcome this competition, creators need 3 things: Uniqueness, Value-adding content, and Connection.

Pursuing a passion is a legitimate business. A business that involves creativity and uniqueness to add value in people's life. Platforms like Patreon will play a prominent role in the creator's life. Another thing that will boost the creator economy is decentralized digital assets like Non-Fungible Tokens(NFTs). Digital Assets like NFTs help creators protect their Intellectual Creativity and monetize it. The creators are building community, and it helps a lot to boost their earnings.

I believe there are many unexplored opportunities in the creator economy space, and it's really changing the world by allowing creators to make a living.