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Not just a side hustle: How social media content creation can be a viable revenue stream
Technology and easy-to-use tools are opening more doors for creators worldwide to share their stories, including calls to change the world for the better, and also make a career out of their creative side hustles and hobbies, says Mr Simon Dale, managing director, South-east Asia & Korea, Adobe
As of 2021, the creator economy is valued at US$104.2 billion. Adobe is committed to enabling "creativity for all" by empowering people everywhere with access to tools, inspiration and support they need to share their stories with the world. PHOTO: ADOBE
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The creator economy has grown tremendously over the past few years to become a multi-billion-dollar industry worldwide, with participants turning their passions into sustainable revenue and income streams. Regardless of whether the person is an artist, student, solopreneur or small business owner, Adobe allows everyday individuals to pursue what they love and, in many cases, freely tell their stories through creative works.
In the last two years, the creator ecosystem has increased by more than 165 million people, bringing the number to over 303 million globally, according to the Adobe Future of Creativity (FOC) study. As of 2021, the creator economy is valued at US$104.2 billion, more than doubling since 2019, greatly outgrowing the perception that creative activity is just a hobby or “side hustle”.
The rise of the Internet and innovative technology has widened the playing field for creators. Investments in technology such as artificial intelligence (AI) and data fuel critical experiential learning to better engage and connect with audiences. Emerging technologies and platforms like the Metaverse, non-fungible tokens (NFTs) and augmented reality (AR) are also enabling further growth in multiple industries.
Creativity is not exclusive, or a special gift endowed only to a lucky few - it belongs to everyone, and the options and rewards are limitless.
Seizing opportunities to propel the global economy
Major digital platforms today, including social media, provide a variety of monetisation features to attract and retain creators. This lucrative, revenue-making model grew significantly in the past year and has become a draw for many young creators today. Almost half of Gen Z creators (49 per cent) say they would rather start their creative businesses than attend university, according to the latest Adobe FOC: Monetisation in the Creator Economy study.
According to the e-Conomy SEA 2022 report, the South-east Asian digital economy is expected to reach US$200 billion in 2022 and US$1 trillion by 2030. Consumers are becoming digital natives, and connectivity has given them access to a wider variety of content across an equally diverse range of platforms – from streaming services to social media to multi-channel networks. With new ways of working, creators and businesses that explore, support and adopt digital and creative tools will find it easier to thrive.
Adobe is committed to enabling “creativity for all”, empowering people everywhere with access to the tools, inspiration and support they need to share their stories with the world. With the ability to monetise their content through various business means, the creator economy is poised for further growth across traditional and new immersive media.
Supporting social causes that matter
The creation of high-quality, professional-grade photos, video graphics and audio recordings is now in the hands of the masses, thanks to easy-to-use tools. Creators can tap niche audiences that would have been impossible to connect with, and creative mediums that would have been difficult to gain traction otherwise.
An interesting trend from the Adobe FOC study states that younger creators are passionate about producing content that advocates societal change. By using their creativity and influence to advance social causes, 51 per cent of creators believe they can drive awareness, and 41 per cent believe they can give a voice to those who cannot speak up. Creators have embraced the opportunity to engage in discourse and advance conversations around social causes online.
What the future holds for creators
Creativity is the great enabler in the current economy. It has the power to influence politics, culture and social norms, so we need to hear from a broader, more diverse set of voices. This includes encouraging the next generation of creators to make lasting changes. Creative expression is the path to realising our full potential – the creator economy is here to stay and will continue to change how people work. This means that the ability to create must be accessible to everyone and needs to continue to be a focus in the short and long term.
Today’s digital economy is becoming a powerful platform for creativity, and Adobe allows the act of expression to be available anywhere and anytime, with effortless collaboration.
To be inspired and hear from experts, business owners, artistes and luminaries who are successfully driving immersive and engaging creative experiences, watch Adobe MAX 2022 on-demand keynotes, workshops and sessions here.
