Global Trends in the Content Creation Ecosystem

Gone are the days when all we needed was food, water and shelter to survive. Nowadays, social media, OTT and content consumption have been added to the list. None of us can imagine our life without these things because they have become essential to our existence. As a result, the creator economy has grown exponentially. The pandemic, in fact, has contributed significantly to its growth. In 2021 itself, it has become roughly a $20 billion market. It is further estimated that it will reach a market of $104.2 billion in 2022 as more and more people join this industry.

Investors and venture capitalists also got wind. They started investing money in creator-focused businesses and even influencer personal businesses. Year after year, $800 million in venture capital has flowed into these designer businesses, making them one of the fastest growing industries today. Because of this, innovation takes place on a large scale and new trends emerge daily. In fact, so much so that it’s hard to keep track. Therefore, with my 10 years experience in this industry, I have identified the four main trends that I believe will dominate the content creation industry in the coming year and that we should all keep an eye on. close.

  • Virtual influencers are gaining importance

They are rapidly gaining prominence in the influencer marketing ecosystem. With more and more of them popping up on Instagram every week and generating creative content, more and more brands are lining up to partner with them to participate in this new form of marketing. The most popular virtual influencer in the world is Lu do Magaluf. In my opinion, this trend is definitely here to stay as it offers countless benefits for all stakeholders with very limited limits.

  • Celebrities wanting to become digital content creators

There’s no denying that many content creators these days are more influential than the Gen Z and millennial celebrities who spend a lot of time watching videos online. This realization struck them as well. Therefore, rather than viewing social media as a part-time project, they now invest time, effort, and money into creating their internet personas. This trend is similar for celebrities in all walks of life, from actors to sports personalities to entrepreneurs.

  • NFT and metaverse in motion

When the creator economy is merged with NFTs, countless opportunities arise. With NFTs, artists can take control of their work and finances and they are no longer dependent on third-party intermediaries. Thus, a variety of monetization alternatives are available to them. Because of this, NFTs are gaining popularity across the globe, from artists, creators to brands – everyone wants to join this bandwagon. Recently, the famous Indian singer Daler Mehndi marked his presence by buying a piece of land in the Metaverse in India called the ‘Balle Balle Land’. The land also includes a store that will sell royal merchandise and products in the form of NFTs and physical goods that will be delivered to consumers’ doorsteps. Cases like this only mark the initial phase of NFTs.

  • Change monetization models

Monetization models for content creators have evolved significantly over the years. They are no longer limited to brand associations, and even go much further. For example, creators now earn through multiple revenue streams like launching their own brands, selling their own merchandise, hosting sessions and workshops, and the list goes on. There are many examples of designers who have successfully launched their own brands over the past year, such as Tech Burner (Overlays clothing), Juhi Godambe (Arabelle), Parul Gulati (Nish Hair), Siddhi Karwaa (Unfurl studio) for to name a few. . On the other hand, brands like Instagram are also constantly innovating to be more creator-friendly by launching features like direct selling (operational in a few parts of the world at the moment). These models should also evolve to give more authority to content creators and thus reduce their dependence on brands.

In conclusion, I’d like to say that I’m confident that if scale continues, the creator economy could become one of the biggest industries in the world over the next few years, with technology playing a leading role in coming. Therefore, the year 2022 is surely a defining year for the industry.



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Disclaimer

The opinions expressed above are those of the author.



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Jenny T. Curlee