The creator economy is a really cool industry that’s been growing rapidly over the past few years. People can earn money by producing and sharing their creations online, which is pretty awesome! Recently, Goldman Sachs and Citigroup released some reports that showed just how much money can be made in this industry, but they also pointed out some concerns.
Basically, the reports said that the creator economy is dominated by a few big stars, and that it’s really hard for the average person to make a living from it. They also found that the more creators there are on a platform, the less money each of them makes on average. So even though the industry is growing, it’s not very democratic.
One thing that was really surprising was that the Pareto Principle, which says that 80% of results come from 20% of causes, doesn’t seem to apply to the creator economy. Instead, it’s more like 90/10, where 90% of the money goes to less than 10% of creators. That’s a pretty small group!
All of this is pretty concerning, and it means that the creator economy might not be a sustainable career choice for most people. The reports suggest that it might be better to have a day job, or at least to be prepared for the risks involved.
That being said, the creator economy is still really exciting! It’s a flexible way to make money, and anyone can do it as long as they create content that people want to see. It’s just important to be aware of the challenges and approach it with caution.
So if you’re thinking about becoming a content creator, go for it! Just remember that it’s not an easy path, and there’s a lot of competition out there. But if you’re passionate about what you’re creating, and you’re willing to put in the work, you might just be able to make it in the creator economy!