Creators Weigh In on the State of the Industry

The creator economy has grown at a rapid rate, but in spite of the fact that this is the case, there is still a lot of room for improvement. Lightricks recently surveyed a thousand creators who are currently operating within this space, and they weighed in on the state of the industry. They also highlighted certain factors that could make future trends seem more apparent than might have been the case otherwise.

First things first, generative AI is changing the creator landscape in ways that are hard to predict. 68% of creators said that they are already using generative AI to one extent or another, and at least 66% said that they have a working knowledge of it. As for those who are aspiring to become creators in the future, 62% admitted to using generative AI, and a whopping 92% said that they are familiar with it.

With all of that having been said and now out of the way, it is important to note that there are still some drawbacks to the presence of AI. 74% said that the potential for the creation of deepfakes was an enormous issue, 58% remarked that copyright issues might start to arise and 57% are fearful of a potential decrease in authenticity.

That does not detract from the very real value of AI among creators, however. 84% said that using AI helps them to save time, and the same proportion, 84%, stated that it also helps them to save a lot of money that would have otherwise been spent. 86% also acknowledged that the use of AI has a largely positive impact on their creative processes with all things having been considered and taken into account.

A lot of feedback was also received with respect to who creators are trying to make content for. 14% said that they want to make something that they themselves would enjoy, while 23% stated that they try to keep business interests in mind. 25% said that it is just a hobby for them, and 33% referred to their careers as side gigs to provide supplemental income.

So, where are creators getting all of their income from? Well, 80% said that they rely on ads as their primary source of revenue. However, 49% cited product placements because of the fact that this is the sort of thing that could potentially end up allowing them to boost their profit margins. A further 55% said that they make custom content for brands in order to get a more sustainable source of income from their content creation.

The vast majority of creators, or 74% to be precise, suggested that they feel they are fairly compensated for all of their hard work. 26% reported earning between $1,000 and $2,000 per month, 19% said they make between $2,000 and $5,000 and 13% earn even more than this.

However, 18% of creators still just earn between $500 to $1,000 on a monthly basis, with nearly a quarter, 24%, earning less than $500 per month. All in all, the creator economy is fairly diverse, but despite the disparity, three out of four creators are happy with how much they can make.

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by Zia Muhammad via Digital Information World