Lots of Attention for the Creator Economy

Jan 26, 2022

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ANECDOTE

TikToker Modeling for Gucci

TikToker Francis Bourgeois became the face of the Gucci-North Face collaboration.
His excitement and niche interest influenced a luxury brand's marketing approach uniquely.

INSIGHT

Creator Economy Disrupts Media

The creator economy disrupts a $2 trillion traditional media industry by normalizing content creation as a legitimate profession.
Creators no longer rely solely on big media but build real, trusted relationships with their audiences.

INSIGHT

Monetization Validated Creators

Monetization was a turning point for creator economy recognition and relevance.
Stripe estimates creators will soon surpass $10 billion in earnings, validating creator businesses extensively.

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When someone stumbles upon something different, it usually takes mainstream society a while to catch up. Understanding and validating the power of creators and the creator economy is no different. After years of creators forging their own careers despite judgment and confusion, the universe is finally catching on. And everyone wants in on the lucrative new economy that’s disrupting a $2 trillion industry.

But when did the power players of society finally take notice of the creator economy? How can creators best leverage this newfound validation? And will this normalization cause creators to lose sight of their original purpose? Good or bad, eyes on the creator economy will only expand.

In this episode, Charli, Haley, and Miguel dive into the recent Forbes article, To Succeed in the Creator Economy, Startups Should Address Creators’ Needs. The three discuss how creators should respond to the attention, why startups and businesses need a mindset shift when it comes to their relationship with creators, and what’s next for the creator economy all around us.

Key Takeaways

[00:54] - Have you heard?
- [01:40] - A TikToker is now the face of a Gucci-NorthFace collaboration.
- [02:28] - Instagram is testing allowing users to reorganize their profile grid.
- [03:23] - James Clear’s Atomic Habits was the #1 best-selling book on Amazon in 2021.
- [05:31] - Instagram is now allowing users to choose how their feed is sorted.
[08:20] - A recent Forbes article argues that startups must address creators’ needs in order to survive in the modern creator economy.
- [11:23] - Creating as a profession has become normalized and because of that, creators have the power to disrupt the mainstream media.
- [15:26] - When did society start validating the creator economy? When creators learned to monetize their business? Or when venture capitalists finally started paying attention?
- [20:23] - There are three things startups can do to solve challenges in the creator economy: mitigating creator burnout, tailoring solutions to creators, and viewing creators as design partners rather than just employees.
- [26:06] - Startups must also tailor solutions to a creator’s audience.
- [26:55] - Creators have to establish the precedent of demanding proper payment for their labor, regardless of how exciting a partnership may seem.
[31:05] - Introducing creator callout!
[32:56] - A sneak peek at next week’s episode.

Quotes

[10:33] - “The creator economy is just the economy now, and we are all living within the creator economy whether we are a creator or not. This is happening, this is the way the world is going. And so if businesses want to succeed in this new way of doing business in this new economy, then creators need to be considered as a key audience.” ~ @charliprangley

[14:27] - “Whenever the business itself is surrounded around someone’s creativity or someone doing something themselves, I feel like people’s minds tend to go to this place of illegitimacy. And it’s important to remember that it’s very legitimate because there are entire markets out there that are built around creativity.” ~ @miguelp.img

[21:24] - “That is actually really what I think doesn’t happen often enough is that creators don’t position themselves as partners, they position themselves as employees of this company where they bring so much value.” ~ @haleyjani

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