Creator Economy Trends You Should Watch Out For In 2022

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The Rise of the Creator Economy

When we talk about the creator economy‘s development, what we really mean is its domination. As a result of the creator economy, the number of new entrepreneurs, and creative, business-savvy individuals who use both organic and paid social media posts to create communities, sell goods, and expand businesses is increasing more than ever.

When TikTok first entered the market a few years ago, it surprised everyone by surpassing Instagram to become the second most popular creator platform. Following the ban on TikTok in India, Indian creators gradually shifted to MX TakaTak, Chingari, and Moj. The majority of them gained notoriety after the government banned TikTok. 

Because of the internet, there are many new opportunities for creative people to make money online. Other forms of media creators, such as writers, musicians, and filmmakers, can share their original ideas with an interested audience. Podcasting and gaming live streams are now more emerging markets.

Evolution of the Creator Economy

Source @Jon Radoff on Medium

Any given creative industry has several stages, and we now have enough history to see a predictable pattern emerge, whether it was desktop publishing in the past or e-commerce and 3D engines more recently:

  • Early adopters such as Amazon and Pixar helped to develop new technologies during the Pioneer Era.
  • The Engineering Era, during which middleware and bottom-up tools are created to help overburdened engineering teams.
  • The “Creator Era” refers to the top-down tools that support a much larger market of creators and displace many businesses from previous eras.

India currently has 448 million social media users. We expect that there will be more than 650 million active social media users by 2026.

To avoid the distribution barrier, creators have built massive, extremely loyal fan bases on websites such as YouTube, Instagram, TikTok, Facebook, and others. As a result of TikTok’s ban in India, Indian platforms such as Moj, MX TakaTak, Josh, Roposo, and others have recently gained popularity.

Other sectors, such as the metaverse and live gaming, are still in their infancy stage, but it will be fascinating to watch in the coming years as a flood of new creators seize enormous business opportunities and take over established players, empowered by platforms built specifically for them.

Creator Economy Trends to Watch Out For

A lot of things can be expected out of the creator economy in the coming years. 

The opportunities in this economy are attracting the attention of bigger players and investors. They understand the importance of leveraging content to increase their brands and businesses.

Creators are becoming their own businesses themselves. Startups are rushing to develop the tools and services required to run and scale their businesses. Major brands are also investing more in leveraging creators’ audience reach.

Almost a decade ago, it was impossible for people to make money from their creative interests or hobbies. Through new platforms, people can make money off of their creative interests and fan communities.

It’s obvious to see why so many people believe there’s never been a better time to be a content creator. Here are some predictions for the trends and issues facing the creator economy in 2022.

Micro-Influencers Will Step Into the Spotlight

Source @Galatic Feed

If you are active on social media, you have most likely come across the term “Micro-Influencer”. You may have jokingly referred to yourself as a micro-influencer one or two times when you posted a picture of yourself enjoying a seasonal latte at your favorite café.

A micro-influencer typically has 10,000-50,000 followers, which is a small range, but the important point is that they are not well-known national or international figures or celebrities with hundreds of thousands or millions of followers.

Micro-influencers are the unsung heroes of creator marketing campaigns, despite receiving less attention than well-known creators. When you need to get real engagement on your content, partnering with a micro-influencer gives you an instant “in” with a niche audience. In terms of engagement, trust, and influence, they outperform all other creator types.

Social Commerce Rising

Social commerce is one of the fastest-growing online shopping trends in 2022.

It differs from a traditional social media marketing strategy in which customers view a brand’s content before proceeding to their website to begin shopping. Customers can use social commerce to research brands, find products, and make purchases without ever leaving the app.

The three main platforms that have so far added social commerce features are Facebook, Instagram, and Pinterest. Not far behind are other platforms like TikTok and Youtube, which are both investigating “shop now” buttons. Additionally, Twitter is experimenting with a fresh card design that features a sizable “Shop” button.

Now, the difference between social commerce and eCommerce is that, by definition,

Social commerce allows customers to make purchases while using social media.

E-commerce is not the same as social commerce.

E-commerce refers to online shopping via a website or a specialized branded app.

Community Will Offer Creators Stability

Source @Tech Crunch

In this crowded digital space, there are millions of creators and influencers, and the number is constantly growing. In such a situation, how can an influencer carve out their niche and build a loyal following?

In this situation, community building becomes critical because it allows them to focus on developing a loyal fan base.

Creators are beginning to recognise the value of incorporating community into their social media networks and presence via tools such as Patreon and Discord.

Community not only allows creators to deepen relationships with fans and explore additional revenue streams with members, but it also allows them to avoid daily battles with ever-changing social media platform algorithms to reach their audiences.

There are numerous examples of influencers who have created successful communities that are now thriving because of it.

NFTs Will Be An Additional Stream of Revenue

Source @Boardroom.tv

The NFT opened a completely new revenue stream for content creators. If you create any type of content that connects with a specific audience, you have a chance of succeeding in this new tokenization model.

NFTs are among the greatest inventions, and their enduring power stems from their provision of fixed source, genuine content ownership, and conditional constraints, which address issues for creators, users, and distributors together.

However, not everyone will be successful in the NFT industry. They have a chance to succeed even though they lack power or aren’t quite there yet. You can be a beginning artist or an established artist with years of valuable experience. 

NFTs are more likely to be the future’s content than just a trend. The technology inspires creators, improves networks and markets, and, most importantly, empowers customers and fan communities.

Creators Will Launch Their Brands 

More and more creators are identifying as entrepreneurs because that is what they are. If you want to win that award again this year, consider dabbling in e-commerce.

As influencer marketing becomes more common, well-known content creators and social celebrities will be able to diversify their businesses.

Throughout their careers, many influencers have the opportunity to collaborate with brands. In fact, they do not always have the freedom to fully express themselves during the collaboration. Influencers can use their marketing, content creation, and self-promotion skills learned through social media to start a business.

By launching a brand, influencers can interact with their communities on a whole new level. They can foster even more loyalty and trust if they involve their community in the project early on in the process.

Starting a business can provide an additional route to financial security in a relatively new and uncertain industry. We understand that jobs based on social media can be fleeting.

What’s Next for the Creator Economy in 2022?

The creator economy is gaining traction. And it is only going upwards..

There is no one type of person who decides to become a creator, and there is no one type of content they produce.

The creator economy is now estimated to be worth more than 104 billion USD, with more than 50 million people worldwide identifying as content creators.

Even if you don’t consider yourself a content creator, you are constantly exposed to digital content produced by the economy, such as blogs, live-streamed or recorded videos, pictures, podcasts, articles, e-books, music, and tangible objects, artwork, courses, and much more.

YouTube, Instagram, Medium, TikTok, eBay, Twitch, Amazon Publishing, Etsy, WordPress, Tumblr, and Patreon are some of the platforms that creators use to share their work and earn money from their profession.

Given how involved consumers are in online activity these days, the creator economy is expected to continue to grow. New creators are entering the ecosystem, whether for personal reasons or with the clear intention of making money from it. New technology is a great “enabler” for both experienced and new content creators.

This post is also available in: English

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