The $100B+ "Creator Economy" Revealed

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.8 • 1.3K Ratings

🗓️ 21 June 2023

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mr. Beast might make $50M a year...but how much does the average influencer earn? Which platform lends itself most readily to monetization? And how have some influencers scaled to eight-figure, long-lasting businesses—like our guest, Thomas Frank with 3M subscribers—while others flame out in 18 months? We answer all of these juicy questions and dive into the hard numbers. Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode Thomas Frank on YouTube: https://www.youtube.com/channel/UCG-KntY7aVnIGXYEBQvmBAQ The value of the creator economy: https://influencermarketinghub.com/ebooks/Creator_Economy_-_Creator%20Earnings_Benchmark_2021.pdf 1 in 4 Gen Zers plan to become content creators: https://thehill.com/changing-america/enrichment/arts-culture/3614182-1-in-4-gen-z-ers-plan-to-become-social-media-influencers/ Neal Schaffer on The Age of Influence: https://nealschaffer.com/influencer-marketing-statistics/ 89% of advertisers found influencer marketing to be at least as effective as other methods: https://www.smartinsights.com/online-pr/influencer-marketing-effectiveness/ Blogilates case study: https://www.instagram.com/blogilates/?hl=en Mr. Beast case study: https://www.thoughtleaders.io/blog/how-much-does-mrbeast-spend-a-month Nick Huber case study: https://www.mfmpod.com/127-with-nick-huber-building-a-10m-self-storage-business-and-the-opportunities-in-sweaty-startups/ Melissa Wood Tepperberg case study: https://www.hbs.edu/faculty/Pages/item.aspx?num=60307 Thomas Frank's creator resources: https://creator.thomasjfrank.com/ — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The only thing that really matters the end of the day for most brands who are
0:04.1	doing creator sponsorships, which are going to be DTC brands, is conversion. So the
0:08.4	views don't matter, the subscribers don't matter.
0:12.9	There's just a whole lot of misinformation out there and this leads to this
0:16.6	belief that creators need to get X views to make X dollars when it really doesn't
0:20.8	work like that.
0:30.4	Welcome back to the Money with Katie Show Rich People. A few months ago we did
0:34.7	an episode on this show, it was number 58, called the monetization of
0:39.4	self, personal brands, and the business of influencing. And this episode
0:43.9	really explored how bizarre it is to commodify your personality and private
0:49.2	life for money. But we didn't really explore the creator economy as a whole.
1:01.0	And here's why we should. It's estimated that the creator economy could be
1:06.0	worth as much as $104 billion and one in four Gen Zers say that they plan to
1:13.8	become content creators. Now, I'm going to try to avoid today what I would
1:19.4	consider to be the obvious takes on this topic. And instead, I want to focus on a
1:24.1	few major pieces of this puzzle that I personally find most interesting and
1:29.9	the least discussed. Today, we're going to attempt to answer four questions.
1:39.7	Number one, who is the creator economy really good for? The brands, the platforms,
1:46.1	the creators, or all three? And where does the audience fall in this breakdown?
1:52.9	How is ROI measured and our influencers more effective than traditional
1:58.7	advertising? Number two, how much does the average influencer make compared to
2:05.9	the top earners are 1% of the influencers earning 98% of the available ad
	...

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