Finding Your Place In The Creator Economy

News about 8 year old Ryan Kaji continues to spread like wildfire as more people are researching and exploring the potential to earn an income from creating and sharing content. In Forbes’ article “The Highest-Paid YouTube Stars Of 2020”, Ryan Kaji was listed number one (#1) earner on Youtube with his earnings around $29.5million. This Texan boy reviews kids’ toys on his YouTube channel among other fun and educational videos with his family garnering 12.2 billion views and 41.7 million subscribers in the last year(July 2019 -July 2020). There are millions more who contribute to this burgeoning creative economy as they create and share the simplest, weirdest, most inspiring and sometimes the craziest content you can think of.

The introduction of Web 2.0 must have been the birth of the creator economy. Web 2.0 apps like Facebook, Tik Tok, YouTube, Medium and Twitter give its users the power to create. These apps are run solely on participation by the user and all its content generated by them. Think about it. What will your Twitter feed look like if you were the only user? How about Tik Tok? You’d probably be watching your own videos all day long.

And now the metaverse is here!(well almost) With Web 3.0, users will be in total control of the content on the internet from when it is created down to when it is deleted and even to the transparency of ownership. It will be a world where you can make a purchase, an investment or even like a post with any of your “online profiles” without it being traced to your real person using blockchain technology and a host of other ideas and concepts.

We’re in the age where the internet is run by user generated content and gladly it doesn’t just end at creation; creators can earn an income from simply sharing content they have made on these apps. Of course if you want to make money from this, it takes more than just uploading content; there’s more to it but we’ll talk about that later.

The creative economy is pretty different from the previous economies we’ve experienced in the world. This creator economy makes room for everyone! Everyone has a place here. From the dreamers to the app developers, content creator, distributor right down to the users of the platforms who consume content every day. So where do you fit? Are there opportunities for you to explore given your current situation and skill sets?

The Convener

These are the enablers, the platforms that create room for content. I call them “the conveners”. They create a unique experience on a platform(an app) that sets the niche and target groups which in turn determine the content created for that platform. And here’s the exciting part… conveners sit back and watch creators do what they know how to do best. As simple as it seems, conveners bear the responsibility of bringing creators together and providing incentives and inspiration to urge continuous content creation. The competition created by a continuous rise in conveners in this creator economy squeezes innovation out of each new convener entering the market. They are forced to target a particular niche: meeting the needs or desires of a specific group of people in a local or global setting while making sure to their platform is unique. Conveners have to be intentional and not leave anything to chance or risk the possibility of falling flat. We have seen several apps being built and folding up after a year or two because there was nothing that made them stand out in the market. Conveners also bear the brunt of retaining their users and their relevance on the market. This is where incentives come in: from badges and rewards to revenue sharing which provides actual income for creators. This also means conveners need to stay abreast with the trends, the success and failures of other conveners plus the pain points of both their users and the users of other conveners. To stay relevant they need to keep with the trends and be willing to evolve with it else they could be made obsolete with the introduction of just one trend, a new convener or even a pandemic.

Who can be a convener?

Anyone who has a solution to a problem in the market or a unique idea that supports and celebrates content creators and their creation. With a resilient team you can do anything! Conveners normally get their revenue from varied creative sources but these two are the most common: subscription (consumers pay a monthly or annual fee to access special features and functionalities of the app) and ads(companies or individuals advertise their services, products or other events to the user of the app)

The Content Creator

Content creators are the life of the party! For a while content creators were always the ones with all the technical know how, the best studios or the right access. From musicians to actors, tv show hosts, journalists and column writers in magazines and newspapers. Basically, the celebrities of that age. But this creator economy challenges the status quo every day! The purpose of Web 2.0 apps is to give a voice to everyone; an avenue to showcase talent and expertise while creating relationships. Everyone has equal opportunity to share their skills and talents with the world now. We are now exposed to all this new talent from diverse cultures and perspectives thanks to the conveners. But that’s where it ends for the conveners. Content creators have the responsibility of giving value to their audience. Value can come if different forms: laughter, knowledge, inspiration, advice, entertainment. Your target market has to derive some form of value from the content you create in order to subscribe to or follow you. With the many apps available, content creators have the responsibility of distributing their content to get recognised. You can have great content but if you don’t distribute it only your close circles will know how good you are. If your content is great the world deserves to see it too! Once you have your content published, you have to actively share and promote it to reach as many users as possible. Most of the conveners reward the creators who manage to get many people to read, watch or interact with their content. Case in point, Ryan Kaji. For writers Vocal( for specific countries) and Medium are great places to share your content and earn a little income.

The different platforms target different audiences who consume content differently. Some are focused on video (TikTok, YouTube, Instagram Reels and IGTV) while others focus on text (Twitter, Medium, Quora, Reddit). You can repurpose your content to suit the different platforms where you will find your target audience. Articles can be repurposed into various forms of video content (explanatory videos, fun short Tip Tok videos or Reels) The possibilities are endless.

Who can become a content creator?

You! All you need is a target audience and relevant content to share with them that shows your skills, talents and knowledge. If you want to earn from your content, most conveners require you to distribute your content to reach as many people as possible in order to earn some form of income.

The Content Consumer

This is anyone who uses the app; those who read, watch or interact with the posts or updates on the various apps. Content is created for the users to consume. The consumers are the ones seeking value in the content that is shared. They have the power to validate and cheer on the creators they love. On some platforms, consumers can send a tip or donation to their favourite creators. Another way to show their loyalty or appreciation is through paid and unpaid subscriptions. When a consumer subscribes to a creator, they are saying, “I am excited to see more of the content you create because I derive some value from it”

Who can become a consumer?

Anyone! All you need to do is sign up to any of the convener’s apps and read, listen to or watch the content on there. You can take it a step further and subscribe to a creator and on a good day, send them a tip or donation if you love what they do.

It is also important to note that some you don’t have to only fit in one category. The creator economy empowers us to be as many of them as we want to be. The content creator is also the consumer of another creators content. The convener is also a consumer and can choose to be a content creator if they please!

Go ahead and find your place in the creator economy. There is room for everyone.