Tanmay Bhat. Dr Mike. Joe Rogan. MostlySane. BeerBiceps. They're what's being called "creators". And over time, mostly since the COVID-19 pandemic, there's been a rise of an economic system featuring independent creators connected to businesses and audiences through the internet. This is being dubbed "the creator economy". And it has about 160 million amateur content creators.
So, how does that work? The audience supports the creator financially by engaging with their content, purchasing their merchandise, buying from brands the creator is associated with or, just simply, making the creator a thought leader. It's not just singing or dancing or telling jokes. Creators can also have newsletters, podcasts, informative videos and more. It seems like a new force shaking the status quo. It's getting so cool that a lot of young people may prefer being a creator to an astronaut.
The creator economy is expected to grow from about $128 billion in 2023 to close to $530 billion by 2030 at a CAGR of about 23%. So, if it has potential, it could be a new frontier for the VC community, who aim to have their finger on the pulse of innovation.
