The Booming Creator Economy

Do you support a favorite artist or creator using Patreon, Cameo, or OnlyFans? Have you purchased an NFT for a new album or to add to your digital art collection? If so, you are in the vanguard of the nascent creator economy.

From a financial perspective, the pandemic has hit the creator class hard. With the usual venues for live performances and exhibitions closed, artists and creators of every description have been forced to fend for themselves, and the emergence of a self-sufficient, profitable creator class may be the result.

After its most recent raise, Patreon (a platform that connects 200,000 creators with about 7 million fans) was valued at $4 billion (which is triple its value in September 2020). Seven-time Super Bowl champion Tom Brady announced he is launching an NFT platform this spring. Every social video post has become an opportunity to promote original content that fans can support, if they so desire.

The concept of an open, honest, one-to-one relationship between creator and community isn’t new, but the technology to do it at scale is.

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Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it. I am not a financial advisor. Nothing in this article should be considered financial advice. If you are considering any type of investment you should conduct your own research and, if necessary, seek the advice of a licensed financial advisor.

About Shelly Palmer

Shelly Palmer is a business advisor and technology consultant. He helps Fortune 500 companies with digital transformation, media and marketing. Named LinkedIn's Top Voice in Technology, he is the host of the Shelly Palmer #strategyhacker livestream and co-host of Techstream with Shelly Palmer & Seth Everett. He covers tech and business for Good Day New York, writes a weekly column for Adweek, is a regular commentator on CNN and CNBC, and writes a popular daily business blog. Follow @shellypalmer or visit shellypalmer.com

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