From PYMNTS.com, April 23:
The creator economy is apparently leaving a bulk of creators out in the cold.
In an opinion piece published Saturday (April 22) by the Financial Times, Leo Lewis argues there is a “stunning concentration of revenues” on a small number of Gen Z creators, and a “yawning gap where a ‘middle class’ of fairly decent income might ideally be.”
He points to figures from Goldman Sachs that estimate a global creator population of 50 million, 96% of whom are “amateurs” earning relatively little, with the remaining “professionals” taking in upwards of $100,000 per year.
Citi, meanwhile, says that 90% of Substack revenues come from under 10% of writers, a ratio that also applies to creators on Twitch and YouTube.
While this is good news for platform providers — as the idea of superstar creators reaping huge incomes continues to entice new would-be creators — it’s a different story for the creators themselves, Lewis writes....
....MUCH MORE
