CNBC November 26, 2024
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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