The influx of people into social and social platforms to generate more revenue in the Corona era has boosted the digital content economy.
More than 50 million people worldwide produce digital content, and the market is worth more than $104 billion.
The growth of the market has led to a stronger middle class; As many as 41% of content creators make money from this place.
How “digital content” leap in this year?
The content production economy has grown exponentially in recent years, but it remains to be seen where this trend will go in the future. Digital content monetization is not a new phenomenon, but the Covid-19 epidemic has become the catalyst for it; The reason for this was the influx of people to shared platforms and social networks to generate more income when they had to stay home.
Of course, for many who became tick-tock stars during this period, this work was initially motivated by the need to get out of the monotony’s quarantine and gradually became a full-time job.
This trend grew in 2020. More than 50 million people worldwide consider themselves digital content producers, and as such, the size of this market is proliferating; The value of the digital content production market has now reached more than $104 billion. So it is not surprising that investors pay attention to this market; They have so far injected $ 1.3 billion of their capital into the market.
Moreover, this market has led to a stronger middle class. Forty-one percent of content creators now make their living – about $69,000 or more a year – this way.
In this way, content creators become their businesses. Startups are rapidly developing tools and services that can help them manage and grow their businesses. Reputable and big brands have also redoubled their efforts to reach their audiences through the influence of these content producers.
It is now easy to see why many believe there is no better time to become a content producer than now. However, it remains to be seen where this trend will continue. In this regard, FastCompany magazine has examined the forecasts of possible trends in the content production market in the new year.
Funds are still unreliable: One of the biggest challenges most content creators face is how to monetize their content. Social platforms introduced content creators’ funding funds in 2020 to use as tools to attract these people and sometimes draw their attention to their platforms.
Tikotak is leading the way with $ 200 million in content creators. In November of last year, Snap launched a process of allocating $1 million a day to content creators who used its Spotlight short video production capability.
In December, the company announced that it would give more than $250 million to about 12,000 content creators by 2021. In June of last year, Meta – then known as Facebook – announced a $1 billion investment in plans to provide more revenue-generating methods to content creators.
Although fundraisers for content creators are not necessarily created to cover their total revenue, they can be very helpful in generating revenue. But the question is, how long do platforms want to continue to fund special funds for content producers?
Many believe that the media will likely lose much of their influence by withdrawing these grants. Alexandro Cagliari, co-founder, and CEO of Influencer Marketing Factory, the most prominent digital content market analysis agency, says he has always been skeptical about creating content creators’ financing funds.
“Social platforms sometimes do not realize that the function of social networks is not limited to their capabilities and revenue, but a community,” he says. It is about what can be produced and how long it can stay in that position.
“Some content creators are just looking for a comfortable income and do not want to stay in the market, while others look at it as a job and want to be sure what their monthly income will be.”
Brands become more dependent on content creators to reach their audiences: Many content creators make their living from brand transactions. According to statistics provided by Influencer Marketing Factory, influencer marketing is the primary source of income for 31% of content producers.
According to some experts, the good news is that brands no longer care about the number of followers of each content creator. Now the approach of brands has become a little more comprehensive, and they are looking to see who their audience is? How much influence do they have?
When is the best time to produce content, and are their audiences willing to post about these brands? Assessments in influencer marketing are becoming more complex.
With these descriptions, the young generation’s distance from the old marketing methods is significant. According to a survey by advertising agency Wunderman Thompson, 73% of young Americans expect a brand to understand their needs; 76% of them believe that a brand is better to accept their identities and experiences and understand it from producing advertising content of these brands.
With this in mind, it is expected that Apple’s new iOS update, which prioritizes users’ privacy and allows them to have more control over their visible and usable information, will undoubtedly affect future digital marketing trends. It means that brands have to spend more time and money to reach a specific audience through those tools.
More brands and more prominent stars become content producers: On the other hand, more brands themselves become content producers. “Every small business gradually feels the need to become a content creator,” says Scott Belsky, senior product manager at Adobe.
Whether you are a self-service laundry, a local pizzeria, a massage therapist, or a hairdresser, you will now conclude that your brand will only be up-to-date and famous.
Related topic: Artificial Intelligence and the Future of Journalism
when you produce your content and present it to your current potential customers.” The same is true of stars and celebrities. “We’re seeing more and more celebrities wanting to produce content and digital marketing this way,” said Joe Kessler, global director of UTA IQ. “Customers are also reacting positively to this, and it is expected that more stars will turn to content production in the not-too-distant future.”
Work issues and the resulting burnout need to be addressed: Early last year, with the digital content market booming, the case of burnout became a significant issue. A survey shows that 90% of content creators experience burnout, and 71% say burnout forces them to quit.
Meanwhile, many social media executives believe that content creators are sitting in their comfortable chairs and not getting tired. The debate is broader and even compares to the Gigi economy (part of the job market for temporary, contract, and short-term jobs). It’s all about discussions about work problems and categorizing jobs related to apps and platforms.
NFTs should have more real-life benefits: The boom in the irreplaceable token market, or NFTs, is naturally linked to the digital content economy because of the different forms of social tokens that can be sold through content producers. Content creators can sell NFTs for audience-specific access to their content. As the number of content producers grows, the value of their proprietary NFTs is expected to increase rapidly.