Content creators are marketing machines these days. The social media stars are making some serious amounts of money by promoting the brands. The rise of social media and user engagement have shifted the television traffic to the social media platforms. Many people have turned their hobbies into their professions. The lock down had a significant effect on these digital platforms. Many have started full-time content creation businesses during the lockdown.The number of content creators has drastically increased in recent years so as their economy.
“The modernized entertainment section benefits the creator economy. The supply chain, which was once restricted to a select few on TV, print media, or traditional outlets such as billboards, has mostly been modernized. A number of people have turned their passions into careers. In a short amount of time, the internet is looking for more and more things to engage with. The winner is the one who can say everything in a very short amount of time,” said Saloni Arora, founder of Rabbit and Turtle LLP and an influencer marketing expert.
From $1.7 billion in 2016, the creator economy grew to $6.5 billion in 2019 and $9.7 billion in 2020.
According to fresh estimates, influencer marketing costs in India would be approximately Rs 1,300 crore in 2022, after rising by 40% in the previous year.
Many homemaker women have transformed into content creators by filming their recipes, daily routines, and other content as a result of this modernised multimedia. Many YouTubers now have bigger followings than many Movie stars. They generate a lot of money via organising gigs, brand promotions, Youtube revenue, blogging, Merchandise and ad sales, among other things. In the film industry, several YouTube artists have gained success. Even movie stars use these social media influencers to promote their movies. That is the size of the digital industry.