New Meta report on creator economy reveals fascinating insights

Every day, the number of content Creators is rising exponentially. More and more individuals are getting dependent on earning a living by creating engaging content. Whence, it is important to understand the scope of the Creator Economy.
Recently, Meta shared a new report entitled “The rise of Creator Economy” written independently by Richard Florida, author of The Rise of the Creative Class and founder of the Creative Class Group.
According to this report, Florida provides a comprehensive overview of the world of individual Creators, defined as “individuals who use digital technology to make and publish creative content that audiences can access and respond to”.
Florida has defined the Creator Economy as “the broader economic and social infrastructure that enables the work of Creators.” In this content Creators’ ecosystem, Creators engage their audiences through technological and economic platforms such as Facebook, Youtube, Instagram, TikTok, Twitter, LinkedIn, Substack, and Patreon. Creators rely on digital tools, startups, and broader infrastructure to generate revenue and support their work.
Some highlights of the report:
The Creator Economy is forecasted to reach over $100 billion.
According to estimates, 60 million Americans now make up the ‘creative class, which is representative of more than 40% of the national workforce.
The number of Creators worldwide estimated at 300 million, with 30 to 85 million Americans earning income by selling their digital content in 2017.

The report has clarified the distribution of Creators based on their age. It indicates that 30% of Creators between the ages of 31 and 40 are interested in using this platform as a source of income. Nearly 50% of Creators are ranging from the age group 31 to 60 years old.
Using all forms of media, such as Videos, music, photos, texts, blogs, games, and webinars, Creators are developing content and posting it online. According to Florida “Creators who post mainly video content usually talk about health and fitness, beauty and fashion, or travel and lifestyle tend to use Youtube, TikTok, or Instagram as their dominant platforms. Creators who make music favor platforms like Spotify and iTunes. Creators who make written content such as political commentators, economists, management thinkers, and essayists gravitate to platforms like Substack, Medium, and Twitter. Creators who make games, including large interactive multiplayer games, favor platforms like Roblox or Twitch.”
Now, the question everyone is looking an answer for “How do Creators get paid?” Creators can transform a vocation they love into a sustainable career or enterprise. When it comes to making money, they earn via sponsorship and brand deals, advertising, subscription and memberships, direct sales of goods and services, and direct funding from platforms like Youtube.
Meta is encouraging Creators to convert their hobbies into their businesses. Increasingly, Creators are social and political activists motivated by the desire of making an impact and serve causes greater than themselves rather than fame, money, or followers.