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An economy of 50 million content creators is on the rise, and thanks to the advances of modern technology, passions are transforming into careers.
We are currently witnessing the rise of the “creator economy.” This is an economy of 50 million content creators of all sorts — artists, gamers, journalists, producers, influencers, editors and others — who, thanks to the advances of modern technology, are able to transform their passions into careers.
A phase of rapid technological growth
With new apps and monetization opportunities that focus on the creator, rather than the platform, the industry and valuation of this market will undoubtedly grow throughout the decade — from 2016 to 2017 alone, America’s creative economy grew by 16.6 percent, earning a total of $6.7 billion. Fully 86 percent of Americans aged 13 to 38 are willing to try influencing, according to a Morning Consult poll from 2019, with the top reasons familiar to any entrepreneur: flexible hours, having fun and sharing ideas with the world. (Fame is the least-cited reason.)
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