“A-a-aye, I’m on vacation
Every single day ’cause I love my occupation.
A-a-aye, I’m on vacation
If you don’t like your life, then you should go and change it!”
– “Vacation” (2017), Swim Team by Dirty Heads
This head-bobbing number by the Dirty Heads is the perfect ode to the Creator Economy!
Gone are the days of choosing between medicine, law, and engineering as professions. Say hello to exciting times where your passion is your profession, and it’s not just spiritual pursuit but rakes in the moolah too. With its beginnings in Web 2.0, the creator economy brought along creative, financial, and operational freedom.
A content creator is an individual or a group which produces educational or entertaining content for an intended audience. What they produce in the form of video, aural media, and digital art like graphic art, musical compositions, sketch-comedies, reviews, unboxings, tutorials, and gaming streams are often a product of their skill-set, area of expertise, experience, and research. This content is mostly produced and distributed online viaFacebook, Instagram, YouTube, Twitter, ClubHouse, Tiktok, Discord and the likes.
YouTube is often quoted as the ‘cradle of content creation’ owing to its Partner program. Around 2011, the content creation scene in India started growing steadily on YouTube. Prominent creators and Internet celebrities like Bhuvan Bam, TechnicalGuruji, NishaMadhulika, AIB, Kanan Gill joined the bandwagon of creating customized and branded content for their audiences. A decade on, the industry has grown manifold.
Content creation is one of the most sought after career options in recent years owing to ease of entry, operation, and distribution. It’s actually quite simple — you don’t need watertight contracts, need for professional gear, or a production crew to create content. All you need is confidence, creativity, and any device with an Internet connection.
The business model of monetizing online content is a framework that comprises 4 components— The brand, the creator, the consumer, and finally, the platform. Brands approach and offer creators with sponsored content opportunities to leverage the niche audience base of the creator. Aligning one’s content style with that of the brand is the biggest challenge creators face, resulting in ads. Digital ads with hefty budgets encompass a large chunk of the creator’s income from the brand, without serving the brand’s purpose. The investment is often ineffective, leading to a decline in the audience base.
A perfect market for content creation totally eliminates brands from the picture. A creator’s sole focus is organic and niche content. Platforms like Patreon are helping generate income for influencers using premium subscriptions, newsletters and the likes.
The Indian content creation circuit has propelled over the past few years. The Prime Minister’s Digital India Initiative has accelerated and eased connectivity in combination with the reduction in data prices across the country. The pandemic catalyzed internet penetration up to 61% and content consumption by 13% since we were forced into nationwide lockdowns, skyrocketing the creator economy.
Although in its nascent stage, things have always been looking up for the Creator economy, backed by steady yet sustainable growth aided by tech platforms. It’s only a matter of time before it overtakes mainstream media!