2024 Creator Economy Statistics: Everything You Need To Know

The rise of digital content ushered in a new age of entertainment for creatives worldwide. With this rise comes the “creator economy,” which is a blanket term for the class of businesses by content creators. These include:

• social media influencers
• bloggers
• videographers
• community builders

While content creators may be in the front and center of the screen, the creator economy also includes finance tools, software, and platforms like OnlyFans and Patreon that helps individual creators grow from the ground up.

If you find content creation fascinating, here are the most telling stats highlighting the rapid growth of the creator economy.

How Big is the Creator Economy?

The creator economy has seen phenomenal growth over the past few years. It is expected to grow even more in the coming years. It was also estimated to be around $104.2 billion in 2022,  with the majority being amateurs.

About half of the 2 million professional content creators on YouTube earn money. A creator can make $2000 per million views depending on several factors. Following behind is Instagram, with nearly 500,000 pro-creators. Twitch comes third with about 300,000.

Aside from those, platforms like OnlyFans grew substantially in the past year. 500,000 new users sign up to the platform daily, growing at 70% monthly.

Creator Economy Growth Statistics

As a multibillion-dollar industry, the creator economy is a jump-off point in the careers of some of the internet's biggest stars.

For example, TikTok Bella Poarch became an overnight sensation after a 10-second video of her bobbing her head to Millie B’s “M to the B.” The clip became TikTok’s most popular video of 2020. Now, Poarch is a multi-millionaire with a thriving music career

Today, the creator economy is worth about $250 billion. However, experts predict it will reach half a trillion dollars by 2027.

While the appeal of content creation has always been its simplicity and authenticity, creators have also become increasingly professional in producing content and managing their careers.

Now, fans compare successful content creators with movie stars and other celebrities because of the fame, respect, and money they earn among their fans and followers.

Curious about the creator economy's size and direction? Let's dive into the industry's market growth.

1. The creator economy is expected to grow from $250 to $480 billion in 2027. 

(Goldman Sachs, Tip Ranks)

Creators used to need expensive equipment to make content. However, all one needs is a smartphone with decent specs, and they’re good to go.

Since the creator economy exploded amid the pandemic, the space has only continued to grow. Content creators are breaking down walls by entering mainstream entertainment, pitching their startups, and becoming full-fledged media organizations.

The total market of the creator economy could double in size over the next five years to $480 billion by 2027 from $250 billion today.

2. There are 4.2 billion social media users today. 

(DataReportal)

Social media users have grown substantially over the past 12 months, with over 150 million new users entering social media since last year. That equates to an annualized growth rate of 3.2% at an average rate of 4.7 new users every second. 

If you want to become a content creator, there’s never been a larger market. No matter your niche or specialty, there’s an audience for you.

Influencers do most of their work on social media since it's one of the most effective platforms for promoting products. 46% of social media users have bought at least one product due to influencer marketing.

3. Content creators' startup investments in 2022 were down 79% from the same period in 2021. 

(Adweek, The Information)

Startups often require raising money to bring their ideas to market; that money usually comes from venture capitalists, private firms, and other organizations with similarly deep pockets.

The decline in the budget of creator economy startups could signify a broad decline in the tech market. However, it’s still something to watch, as these startups are often after prominent platforms for posting content or monetizing your audience.

4. Among the 4.2 billion social media users globally, 500 million are ‘passion economy’ users. 

(Linktree, Future Tales LAB)

Many passion economy users explore their preferences and identities to expand their full-time careers. 

Social media and internet access allow people to research topics to grow their careers and sell their products and services. 75% of consumers use social media to find new products and services.

With the internet’s exponential growth, more and more people are engaging in the passion economy, which refers to new ways to monetize skill sets. Unsurprisingly, 85% of all new jobs by 2030 will be in the passion economy.

5. The worldwide population of the creator economy is estimated to be 200 million.

(Linktree)

Content creators use their skills, expertise, and creativity to attract and monetize an audience. Of these creators, only 2%, or 4 million, have more than 100,000 followers.

About 140 million creators have between 1,000 and 10,000 followers.

6. Only 12% of full-time creators make over $50,000 annually. 

(Linktree)

Creators aren’t only posing in cute clothes on Instagram and doing silly TikTok dances. They’re also handling small businesses, which often demand them to be “on” at all hours of the day. 

Only 6% of amateur creators earn over $10,000 annually. 35% of beginners are monetized but aren’t making enough to quit their day jobs.

Creator Economy Demographics

The creator economy rose exponentially between 2020 and 2022. In fact, over 165 million people have started producing their content since 2020. 

The content economy is bigger than most imagined, even a decade ago. In this generation, it has become a significant source of income for many people.

If you wonder who the creators are, where they operate, and what kind of content they create, keep reading.

7. 78% of creators monetizing their content are females, and only 22% are males.

(Fohr, Collabstr, ConvertKit, European Journal on Criminal Policy and Research)

When narrowed down into niches, females dominate the top three: beauty, fashion, and lifestyle. But while women outnumber men in the creator economy, they still take home less pay.

Aside from the drastic pay difference behind creators, behind the glitz and glamour of female content creation is the reality of online harassment. A study on Spanish influencers reported that 70% have been on the receiving end of online harassment.

8. More than 40% of creators are millennials, and Gen Z only represents 14% of all creators.

(Fortune, Adobe, YPulse)

Gen Z content often trends on TikTok, giving the impression that they are boosting the creator economy. Still, millennials form the backbone of the creator economy. 

That's the opposite of the popular narrative: only teens and twenty-somethings are glued to their screens, dominating the creator force. In reality, the average creator is 40 years old.

The report defines a creator as somebody who shares creative work online at least once a month to expand their social media presence. It distinguishes creators from influencers, who are characterized as having more than 5,000 followers and can earn money from their content.

9. Brazil ranks first in the creator economy with 106 million content creators.

(Overcast)

Brazil isn’t just known for football and stunning rainforests, it also boasts a thriving creator economy.

Spain ranks second in the largest concentration poll of creators at 36%, with 17 million content creators. Next, South Korea, with 17.5 million content creators, was close behind at 34%. Brazil topped the poll in both categories, with the highest concentration of 50%.

Meanwhile, markets like the US, Brazil, and Germany have the biggest creator populations. Surprisingly, South Korea has 20 million more creators than the US, despite having a smaller population: 213 million compared to the US’ 328 million.

Trends in Creator Economy

Trends are what drive creators to create content. Most of these are performed on social media platforms, such as TikTok. Viral content also usually makes these creators famous and pushes the creator economy forward through influencer marketing. 

Along with these, the companies fueling the economy faced challenging changes. The industry witnessed dozens of layoffs from players like Meta, Patreon, and Thinkific. An estimated 170,000 lost their jobs in the first quarter of 2023. Consequently, there was a 50% drop in the budget for creator-related startups.

10. Brands are spending $6 billion on influencer marketing in 2023.

(Goldman Sachs, Harvard Business Review)

The influencer industry reached $16.4 billion in 2022. More than 75% of brands have a specific budget for influencer marketing, from Coca-Cola's #ThisOnesFor campaign to Dior's award-winning 67 Shades campaign and a lot more.

Brands spend so much on creators to promote their products in one way or another. Also, $16 billion is a pot of gold, significantly when marketing funding is cut left and right.

Despite several industries' challenges, marketers still believe influencers are worth spending on.

After all, 94% of marketers see influencer marketing campaigns as successful ways to engage possible customers.

11. Mr. Beast was the top-earning creator on Forbes' 2022 Top Creators, who made $54 million.

(Forbes, Tasty Edits)

Besides making a lot of money, Mr. Beast's videos accumulated 10 billion views, doubling from the previous year. The internet seems to love watching his stunts.

Some of his fan-favorite stunts are his giving away super-sized stuff to random people and offering loads of money to anyone willing to do his crazy and unique dares.

Unsurprisingly, the creator made it to the Forbes list, considering his massive YouTube channel with 150 million subscribers, a burger chain, and other ventures.

12. 94.5% of content creators use Artificial Intelligence for at least one task.

(The Influencer Marketing Factory, Digital Information World)

Creators today leverage AI tools to enhance their performance and create better content than ever before. Notably, as many as 94.5% of creators have admitted to using AI to assist them in content creation.

Around 660 creators were polled in this Creator Economy survey, revealing the extent to which AI is now being utilized.

Top tech companies like Sydney-based Canva have joined the AI train. Now, content creators can make limitless designs powered by Canva’s AI tool to help with their businesses.

13. 51% of creators offered online courses in 2022.

(Thinkific, Creative Class)

Annually, about 3% of creators make over $500,000, and about 90% earn less than $100,000. 

Thinkific's 2022 report suggests that creator educators can build a long-lasting business. This type of business delivers value to these creators' audiences. It creates a sustainable lifestyle without the pressure of becoming a millionaire.

Digital learning is rapidly becoming a vast market, and you have many options when entering this space. You can offer subject primers, coaching, how-to guides, and other online courses.

Bottom Line

The year ahead will surely be full of changes and challenges. However, as economic conditions test personal and household budgets, more people from all walks of life will try their hand at content creation.

They'll do it to maintain their financial stability, safeguard themselves from the uncertainty of the times, or further their passions professionally.

These developments ultimately encourage a new creative economy that is more welcoming and appealing to new audiences.  The peak of purpose-driven creator-educators will be a boon for all.