Connect with us

SOCIAL

New Report Shows That 96% of Online Creators Make Less than $100k Per Year

Published

on

New Report Shows That 96% of Online Creators Make Less than $100k Per Year

The creator economy has been a much discussed phenomenon of the modern interactive landscape, with the implication being that there are now more ways than ever for people to make money online, simply by following their passions, uploading their content, and building a community of fans, who’ll then pay them for their efforts.

Which sounds amazing in theory, but the reality is that the creator “economy” is actually far from being economic for the vast majority of people.

That’s been reinforced once again with the latest research report from creator monetization platform Kajabi, which surveyed 2,000 creators to get their insights into how they make money online, how much money they actually make, the rising use of AI tools, and more.

The topline finding?

96% of creators earn less than $100k/year.”

Advertisement

Which is not overly surprising. In 2022, Influencer marketing platform Aspire found that only 4.3% of creators make more than $100k per year, virtually the exact same result, while a recent survey conducted by Influencer Marketing Hub also found that over 48% of creators earn $15,000 or less p/a.

So while you can indeed make money from your passions, and there are more means than ever to get your work before an audience, the vast majority of creators are not making enough money to quit their full-time jobs, and only a tiny fraction are actually getting “rich” from their content.

For every MrBeast, there are thousands of creators earning only a fraction of fraction of his income.

And most are not earning money from their content directly.

As per the report:

In an industry estimated to reach $480 billion by 2027, more than 50 million creators are trying to make a living online. And yet, 66% of creators made most of their income from one revenue source in 2022 – brand deals. Surviving off of brand deals is easy for those with millions of followers, but for the majority of creators, they are unpredictable and competitive.”

Advertisement

In fact, Kajabi’s report found that the most successful creators leverage five income streams or more, with broader diversification now being a requirement of maximizing your income opportunities.

The top income streams for high-earning creators are digital products, with teaching and consulting also being high value elements.

Kajabi State of Creators Report 2024

That’s not overly surprising for this report specifically, given that Kajabi’s key product offering involves helping creators sell courses and education programs. But even so, it provides more perspective on just how creators are making their money.

Basically, if you want to be a creator, you need to start considering a range of income streams, as opposed to hoping your videos alone will take off.

Six-figure creators have figured out that instead of chasing followers and brand deals or waiting for creator fund payouts, they need to diversify and own their own revenue streams outside of social media. They use social platforms to build their audience, but they know the key to entrepreneurial success is through diversification.

In terms of platforms, YouTube is still the top earner for most creators, with 42% saying they would lose over $50k per year if they were cut off from the platform.

Kajabi State of Creators Report 2024

Which, again, underlines the challenge before creators, with research showing that 90% of YouTube clips never reach even 1,000 views.  

Essentially, the report reinforces what we already knew, that while it is possible to get your content in front of more people via social media connectivity, actually converting that into popularity, and then enough popularity to monetize your work, is really challenging.

Advertisement

That, of course, doesn’t mean that you shouldn’t try, but the truth is that the “creator economy” is a far more limited model than the platforms want to suggest.

Being a successful creator takes work, takes research, it takes years of effort to establish a base from which you can actually start to make any real money from your content. You can do it, but it’s not as simple as just posting videos and waiting for the dollars to roll in.

If you have the commitment, then sure, there are more opportunities than ever before to make money from your hobbies. But it’ll likely take a lot more work than many would think.

You can read Kajabi’s full “State of the Creators ’24 Report” here.

Source link

Advertisement
Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address

SOCIAL

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

Published

on

By

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

Advertisement

This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

SOCIAL

Catering to specific audience boosts your business, says accountant turned coach

Published

on

Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.” 

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

Advertisement



“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

SOCIAL

Instagram Tests Live-Stream Games to Enhance Engagement

Published

on

Instagram Tests Live-Stream Games to Enhance Engagement

Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.

As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.

That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.

Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.

That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.

Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.

Advertisement



Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.

We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

Trending

Follow by Email
RSS