EP 468: Figuring Out the Creator Economy with Charlie Gilkey & Kate Tyson
Apr 11, 2024
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Charlie Gilkey and Kate Tyson delve into the complexities of the creator economy, questioning its existence and discussing platforms' distortion of the market. They explore defining a creator, value creation, digital sharecropping, and the impact of social goods. The conversation also touches on navigating platform algorithms and maintaining authenticity in a competitive space.
The creator economy transforms creative work into commercialized content creation with growing awareness of disconnect between incentives and challenges faced by content creators.
Platforms engage in digital sharecropping, reshaping creators' work to conform to algorithmic preferences, highlighting the power platforms hold in dictating value and content creation strategies.
Deep dives
Impact of the Creator Economy
The Creator Economy, valued at about $250 billion globally and expected to double in the next three years, is transforming creative work into commercialized content creation. While platforms like Instagram and YouTube attract creators by promising support and revenue, many individuals using social media see it as a necessary but frustrating tool to navigate the gig economy. There is a growing awareness of the disconnect between the incentives of the creator economy, marketing demands, and the challenges faced by content creators.
Defining 'Creator' in the Economy
In the conversation, a distinction is drawn between 'creatives' and 'creators,' where creators monetize their creative skills through online platforms like YouTube. The struggle lies in aligning personal goals and activities with the commercialized nature of the creator economy, often driven by market forces and platform demands. The discussion emphasizes the need to clarify the definition of the creator economy and its impact on individuals navigating artistic expression and financial sustainability.
Digital Sharecropping and Algorithmic Influence
The concept of digital sharecropping is explored, highlighting how platforms engage in algorithmic management to control content distribution. Platforms enforce rules and preferences that reshape creators' work, leading to a shift from authentic expression to content tailored to algorithmic demands. Digital sharecropping underscores the platform's power in dictating value, affecting creators' choices and content creation strategies to cater to algorithm preferences.
Economic Forces and Authenticity
The narrative delves into the economic reality of content creation within the digital realm, where creators face challenges aligning personal authenticity with platform requirements. Algorithmic systems prioritize specific content formats, pushing creators to adapt their work to fit algorithmic standards. This dynamic transforms creative expression into a strategic game, where creators must balance authenticity with platform demands to navigate the creator economy effectively.
It seems the creator economy is booming. Or is it?
And what even is the creator economy??
Platforms like Instagram, YouTube, and TechTalk are quite happy to advertise the ways they support creators with features and advice. Their aspirational creator hubs give the distinct impression that becoming a creator is akin to getting paid to be yourself.
But that said, when Kate Tyson told me that she doesn’t think the creator economy should exist but that she couldn’t put that in writing, I told her she was wrong—about not being able to put that in writing. Turns out, our mutual friend Charlie Gilkey had told her the same thing. So I arranged a meeting of the minds.
Today's episode is Part 1 of 2 of that conversation. We get into who a creator is, how the creator economy really works, why we value what we value, and how platforms distort the market for our creative work.