Social media creators turn to subscription apps due to increasingly competitive, volatile content economy

CNBC November 26, 2024
Zach Vallese

Key Points

– The creator economy peaked in September 2021, according to research published this month by the Bank of America Institute.

– Many content creators are increasingly looking to monthly subscription platforms like Substack and Patreon for consistency in their monthly income.

– A separate study by influencer marketing agency NeoReach found that 48% of creators earn $15,000 or less annually, even as the global influencer market reached $21 billion in 2023.

Social media creators are turning to monthly subscription services to generate revenue directly from their followers in an attempt to find a stable source of income in an increasingly competitive and volatile market.

The creator economy peaked in September 2021, according to research published this...

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