Creator Economy: the new frontier of economy 3.0

As the name itself reveals, the Creator Economy is a type of economy that revolves around the creation of various types of content-video, written, audio, etc. – the evolution of which can surely be attributed to the massive spread of social and the massive digital acceleration imparted by the pandemic. Indeed, the decrease in cultural and entertainment activities in presence has brought greater consumption of online content, creating new opportunities.

Of course, content creation is not a completely new activity. What has changed is the mode of communication. Before the digital revolution, in fact, information was disseminated by the mass media, without the possibility of interacting with it: it was a “vertical,” unidirectional type of communication, without a direct exchange and therefore devoid of feedback. Later, with the advent of the Internet and the subsequent explosion of social media, communication turned “horizontal,” involving an increasingly large audience and allowing the emergence of user-generated content for users, which has always been essential for companies as well (think in this case of reviews, a very important lever for any marketing activity).

This is the appeal of Economy 3.0: its ability to be democratic by valuing individuality more than ever.

The Creator Economy is also known as the Passion Economy, a term coined by The New Yorker writer Adam Davidson, because the main source and active engine of content creators-literally, content creators-is precisely their passion, which is turned into online content and monetized.

“Content is the king,” as pronounced now more than 20 years ago by Bill Gates, is not only extremely relevant but we could also call it the mantra of the Creator Economy, in which uniqueness, creativity, differentiation and value are the key ingredients for success.

But are content creators and influencers synonymous? It often happens that creators are identified with influencers, but the latter’s activity is only a part of the Creator Economy and the two figures have differences. The content creator is the one or the one who creates his or her own work and shares it without going in search of professional collaborations: his or her intent is to have a space in which to express themselves and share their interests; it will be the company, if interested, that will contact the creator. The influencer, on the contrary, uses digital platforms with the specific purpose of weaving business relationships with companies, to whom he offers his creativity and, above all, his audience.

To date, as highlighted in the latest report by NeoReach in collaboration with Marketing Hub, the market value of the Creator Economy exceeds $100 billion, but the trend is moving toward further expansion. We’ll just have to wait and, in the meantime, keep on liking!

In short, good communication on social channels is essential, and we at Mediability are here to support every need.