Brendan GahanCEO/Co-Founder Of Creator Authority (Influencer Marketing Agency)

What's the future of the creator economy?

Name: What's the future of the creator economy?
Uploaded: 2023-03-15T20:19:45+00:00
Duration: 52 s
Channel: Brendan Gahan
Description: In a South by Southwest panel, the speaker argues that the creator economy has eclipsed traditional broadcast in reach and influence. In the United…

15 Mar 2023 · 1 min

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In a South by Southwest panel, the speaker argues that the creator economy has eclipsed traditional broadcast in reach and influence. In the United States there are over 45,000 creators with at least 100,000 subscribers and more than 5,000 creators with a million-plus followers, while the five major broadcast networks together average under half a million viewers at any moment. This massive, highly segmented creator base can target any community, and the creator‑viewer relationship resembles a friendship, making creator recommendations the most powerful form of marketing. Consequently, the era of one‑off creator‑brand deals is ending as creators build their own brands, and community becomes the most valuable competitive moat for both creators and brands in the mass‑production media landscape.

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Niche is the new mass. At least that's the takeaway from a panel I joined at South By this year. You see, there's over 45,000 creators in the US alone with at least 100,000 subscribers and over 5,000 with a million or more. Compare this to broadcast where now you've got 5 major networks, the 5th being the CW, which actually averages fewer than half a million viewers at any given time. So with creators, you've got this ability to appeal to any community you could imagine and have an impact because the relationship creators have with viewers is much more akin to a friendship. And what's What's the most powerful form of marketing? A recommendation from a friend. So creators are great partners for marketers, but brands need to recognize that the leverage they once had is changing. The one-off creator brand deal is going to die off because creators are seeing their peers build their own brands. And ultimately, in this era of mass production and media, community is the most valuable competitive moat.