The African creator economy was valued at about 54 billion rand in 2023 and is projected to grow by 28.5% by 2030. With this statistic in mind, finding your way into the creator economy may be a lucrative venture. But what is the creator economy and how can you become part of it?
What is the creator economy?
According to the EMARKETER, the creator economy is an ecosystem involving creators, audiences, digital platforms, marketers and services. The creators are influencers, video content producers, and writers who monetise their content through sponsorships, affiliate marketing, subscription models, merchandise sales, donations and more.
How to become part of the creator economy?
1. Find your niche
What are you good at? You need to clearly define what you are good at and who will be the audience that will appreciate the content you will create.
2. Choose your platform
There are many platforms where you can put your content. You need to understand the conditions of the platform and if they will own your content or have some rights to your content if you publish it on their website. To get started here are some platforms to look at:
- Twitch for live video streaming
- YouTube for on-demand video content
- TikTok for short videos
- Facebook for multimedia content
- Podcasts on different platforms, for example, Spotify for podcasters
- Websites and independent blogs
3. Create content
This is usually the most enjoyable part of the process. Creating the content you want to share with your audience. You should also test different ways to create content to see which resonates best with your audience. You should experiment and ask for feedback to ensure your audience gets the best experience.
4. Monetize your content
This is why most want to participate in the creator economy to make money. You can monetise your content in many ways. If you are on YouTube, you can earn money through ads being played during your videos. You can use Patreon to offer subscriptions to different levels of content. You can use the buymeacoffee website to ask for sponsorship if people like your content. Another method is to use affiliate marketing or sell a product or service to your audience.
There is one aspect of content creation which is critical to remember and that is to ensure when you choose to monetize your content you link up with people and brands which share your values. The other aspect is to remain authentic with your audience as they will soon see if you are not and call you out on it.
So go out there and let your creativity flow and take part in the creator economy.
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