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Creator economy reading list As we kick off 2021, here's a roundup of my favorite Creator Economy / Passion Economy reads from 2020, covering:
• State of the market
• State of creators
• Trends and insights
• Platform strategy
How many creators are there? Who are the key players? What are the key trends? If you're looking for an overview of the creator economy, this is a great place to start.
https://www.signalfire.com/blog/creator-economy/ by @YuanlingY, @JoshConstine
https://www.signalfire.com/blog/creator-economy/ by @YuanlingY, @JoshConstine
A different take on the creator economy map, but equally as interesting. This map categorizes 150+ companies by creator lifecycle: content creation, audience growth and ownership, monetization, and biz ops.
https://hugo.pm/mapping-the-creator-economy/ by @HugoAmsellem
https://hugo.pm/mapping-the-creator-economy/ by @HugoAmsellem
How do creators build wealth?
• Promote other people's products
• Sell their own products
• Invest
https://thegeneralist.substack.com/p/audience-and-wealth-part-i by @mariodgabriele
• Promote other people's products
• Sell their own products
• Invest
https://thegeneralist.substack.com/p/audience-and-wealth-part-i by @mariodgabriele
What do creators sell?
• Sharing profits w/ an audience
• Borrowing from Reddit
• The @MrBeastYT Flywheel
https://thegeneralist.substack.com/p/audience-and-wealth-part-ii by @mariodgabriele
• Sharing profits w/ an audience
• Borrowing from Reddit
• The @MrBeastYT Flywheel
https://thegeneralist.substack.com/p/audience-and-wealth-part-ii by @mariodgabriele
Creators have a hierarchy of needs that follow a rough priority order from creation through to monetization.
It's hard to build an audience without finding a good niche, and it's hard to make money if you haven't built an audience.
https://peteryang.substack.com/p/creator-hierarchy-of-needs by @petergyang
It's hard to build an audience without finding a good niche, and it's hard to make money if you haven't built an audience.
https://peteryang.substack.com/p/creator-hierarchy-of-needs by @petergyang
In 2008, @kevin2kelly proposed that the internet would enable creatives to skip the middlemen and make a good living by engaging and monetizing fans directly.
Today, creators can make the same amount of money from even fewer fans.
https://a16z.com/2020/02/06/100-true-fans/ by @ljin18
Today, creators can make the same amount of money from even fewer fans.
https://a16z.com/2020/02/06/100-true-fans/ by @ljin18
Just like millionaires have an average of 7 income streams, the most successful creators have multiple revenue streams.
Enter, the Multi-SKU Creator.
https://hunterwalk.com/2020/12/01/why-a-paid-newsletter-wont-be-enough-money-for-most-writers-and-thats-fine-the-multi-sku-creator/ by @hunterwalk
Enter, the Multi-SKU Creator.
https://hunterwalk.com/2020/12/01/why-a-paid-newsletter-wont-be-enough-money-for-most-writers-and-thats-fine-the-multi-sku-creator/ by @hunterwalk
With more creators, content, and choice than ever before, consumers are in a state of analysis paralysis.
The real scarcity isn’t content. It’s attention.
As the amount of content grows, so does the market for credible curators.
https://gabygoldberg.medium.com/curators-are-the-new-creators-the-business-model-of-good-taste-5852727d4b54 by @gaby_goldberg
The real scarcity isn’t content. It’s attention.
As the amount of content grows, so does the market for credible curators.
https://gabygoldberg.medium.com/curators-are-the-new-creators-the-business-model-of-good-taste-5852727d4b54 by @gaby_goldberg
3 broad trends driving the future of creators:
1. Everyone can be creators
2. They have direct, authentic connections to communities
3. Creators have new tools to monetize their work
(Use "influencer" and "creator" interchangeably here)
https://digitalnative.substack.com/p/onlyfans-and-the-evolution-of-the by @rex_woodbury
1. Everyone can be creators
2. They have direct, authentic connections to communities
3. Creators have new tools to monetize their work
(Use "influencer" and "creator" interchangeably here)
https://digitalnative.substack.com/p/onlyfans-and-the-evolution-of-the by @rex_woodbury
Peter outlines 8 creator platform models that are universal. A must-read for both creators and the creator economy industry.
https://peteryang.substack.com/p/lessons-about-creator-economy by @petergyang
https://peteryang.substack.com/p/lessons-about-creator-economy by @petergyang
If you’re a startup building a platform for creators, here are the key metrics you'll want to track across success, revenue, engagement, growth, and community.
https://a16z.com/2020/01/08/key-metrics-for-the-passion-economy/ by @ljin18
https://a16z.com/2020/01/08/key-metrics-for-the-passion-economy/ by @ljin18
It’s a common belief that in online communities, 90% of users are consumers/lurkers, 9% are contributors, and 1% are creators. This is often called the 90-9-1 rule.
This study found that this ratio may no longer be true.
https://www.higherlogic.com/blog/90-9-1-rule-online-community-engagement-data/ by @HigherLogic
This study found that this ratio may no longer be true.
https://www.higherlogic.com/blog/90-9-1-rule-online-community-engagement-data/ by @HigherLogic
Super Fan: someone who wants authentic interactions with a creator, and is willing to pay a lot for them.
Startups can grow by helping creators make money through authentic interactions with super fans.
https://peteryang.substack.com/p/the-super-fan-flywheel by @petergyang
Startups can grow by helping creators make money through authentic interactions with super fans.
https://peteryang.substack.com/p/the-super-fan-flywheel by @petergyang
The creative economy looks a lot like the U.S. economy — there are a few big winners and a lot of people hustling to make a living and barely getting by.
Here are 10 strategies for fostering the creator middle class.
https://hbr.org/2020/12/the-creator-economy-needs-a-middle-class, https://li.substack.com/p/building-the-middle-class-of-the by @ljin18
Here are 10 strategies for fostering the creator middle class.
https://hbr.org/2020/12/the-creator-economy-needs-a-middle-class, https://li.substack.com/p/building-the-middle-class-of-the by @ljin18
An insightful response to Li's article above from a self-confessed middle class creator:
• The value of a shoutout from a large account
• Attention to capital conversion efficiency
• Creator monetization strategy
https://joma.substack.com/p/creators-perspective-on-lis-10-strategies by @jomaoppa
• The value of a shoutout from a large account
• Attention to capital conversion efficiency
• Creator monetization strategy
https://joma.substack.com/p/creators-perspective-on-lis-10-strategies by @jomaoppa
2020 was a breakout year for the creator economy
• Substack has 250k+ paid subs
• Patreon is now valued at $1.2B
• OnlyFans earned $300M in profit
• Cameo handled $100M transactions
• Twitch 2X'd the number of streamers
https://www.axios.com/creators-income-revenue-snapchat-cameo-substack-66457b1b-a9ab-4065-b0c6-58baa81edec4.html by @sarafischer
• Substack has 250k+ paid subs
• Patreon is now valued at $1.2B
• OnlyFans earned $300M in profit
• Cameo handled $100M transactions
• Twitch 2X'd the number of streamers
https://www.axios.com/creators-income-revenue-snapchat-cameo-substack-66457b1b-a9ab-4065-b0c6-58baa81edec4.html by @sarafischer
What am I missing?
If you enjoyed this thread and want to learn more about the Creator Economy space...
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Follow me @ryangum and subscribe to my upcoming posts for more insights: http://ryangum.com
