GRASPED The Creator Economy

Many years ago, we lived in a manufacturing economy. Almost everyone worked in some sort of job making “stuff,” either in a factory or in their own business. After World War II however, this switched to a consumer-driven economy.

Traditional media, especially television, glorified this consumer economy, urging us to buy, buy, and buy some more. During this time, people started shifting away from physical labor to service jobs where they did something for someone and were paid for it.

Once the internet arrived, we entered what you might call a knowledge economy. Technology did away with many traditional jobs, especially in manufacturing. The age of the creator was born, a time when people made money by marketing their skills, hobbies, and interests online.

The Creator Economy is built around highly motivated, skilled, and creative individuals that have started their own brand, business, or community using a digital platform. These individuals monetize their hobbies, passions, and interests through videos, blog posts, photographs, artwork, audio content, and other digital assets.

The Creator Economy provides flexibility that puts you in full control: it can be a side-hustle or a full-time job. The choice is yours. But how exactly does this Creator Economy work and how can you capitalize on it?

Imagine a world where, after losing your job, you could set up a video series poking fun at everyday things you see and earn a yearly salary with every video. Or a world where a child with just a cell phone and a toy set can generate millions of dollars and billions of views.

Well, you don’t have to imagine it: that’s the world we currently liv in! Recently, the term “Creator Economy” has been used to include the growing number of resources designed specifically for these creators.

From Instagram talent agencies to financial software for managing your monetization, the list of services goes on. Economists estimate that this economic sector is worth over $100 billion. 90% of the content that Generation Z is consuming today is created by individuals, not by corporations.

The creator trend has been quietly growing over the past decade, but the COVID-19 pandemic ramped it into high gear as millions of everyday people suddenly found themselves with more time and a need for entertainment.

Add the fact that content creation is getting more and more accessible because of technological advances, and it’s no surprise the Creator Economy continues to thrive. Today, anyone with a good idea and a little bit of tech-savvy can become a creator!

But how can you make money doing what you love? Well, that is a good question. The working system of exchanges, trade-offs, and transactions between author-artists, advertisers and audiences is what makes up the growing Creator Economy.

Some of the biggest challenges for content creators include creating content you love, and that people want to consume, keeping up with the trends and staying relevant. Creators don’t even need to create their own content due to the millions of freelance workers who are happy to take on these tasks.

Creators can create and distribute their content through many different platforms that fall under several broad categories, depending on the content type and monetization model they use. for example.

...to name a few.

It's not too late for you to be successful in the Creator Economy, either as a creator yourself or by backing one of the up and coming influencers or creators. As the field grows, chances for success arise. Opportunities build on themselves every day.

The Creator Economy is the ultimate way talented people can express themselves and get paid for it. Now is the time to build your empire in the ever-growing Creator Economy. As a creator, realizing your strengths is the first step toward overcoming the hurdles of online media production.

At GRASPED we help you determine what your long-term goals are and understand why you want to become a creator. Using our resources, we help you realize your vision and be as real as you can, to create a loyal fan base.

With that said, here are a few things you should keep an eye on...