By Jaimie Ding
Half a trillion dollars. That’s how large the creator economy, currently pegged at $250 billion, is predicted to grow in the next four years, according to Goldman Sachs.
While people have been making a living off of creating content for online audiences for nearly two decades, what was once a nascent industry is growing up. Brands are getting more strategic about influencer marketing, a thriving ecosystem has emerged to serve creators and their needs, and social platforms are increasingly nudging consumers to spend while they scroll.
What does this mean for influencers and their audiences? The Times asked those who have been in the creator economy for decades to opine on what the new year will bring. We’re still in the early innings, they said, but in 2024, the industry will continue to mature in significant ways.
Most creators start off as one-man bands. They brainstorm, film, edit and post content on their own. Day by day, they grow their followings, and eventually begin to make money. But then what?
“There are two options: You either bring in a manager or agent externally, or you hire a COO or business partner internally,” said Jon Youshaei, a creator and founder of Youshaei Studios. “And more and more, I’m seeing creators bring in a right-hand person internally.”
Source: L.A. Times
