Top 5 Creator Economy Trends You Need to Know in 2023
Currently valued at $104.2 billion, the global creator economy is thriving. Creators from all walks of life — from traditional social media influencers to independent artists and podcasters — are turning their content into a money making machine by working with brands and leveraging monetization tools.
To provide marketers and creators with more clarity on the current state of the creator economy, we put together a new data-backed report, How Much to Pay Influencers, compiling Aspire’s internal data and survey results from over 1,000 creators.
Keep reading for the top 5 trends, and download the full report for more statistics and insights.
1. 48% of creators report having increased their influencer marketing income in the last 12 months.
Despite the difficult economic climate, brands are still investing more into creators. Nearly half of the creators surveyed said they have earned more in the last 12 months than in previous years.
2. 53% of the creators surveyed earn more than $250 each month from their brand partnerships.
Not including the free products and incentives as compensation, more than half of creators earn over $250 each month from their brand partnerships.
While these results vary based on each creator’s main platform of choice, audience size, industry, and many other factors, it’s clear that brands see immense value in investing into content creators.
3. Creators in the food-related industry report earning the most amount of money per month from their brand partnerships.
This is followed by creators in the travel, tech, and home design segments. Brands in these niches often expect professional quality content, which may lead creators to charge higher rates as production fees.
4. 83% of creators say that they would still work with a brand for just free products.
Unfortunately, free products don’t pay the bills. When working with creators in any aspect, it’s important to pay them a fair rate for the work they do for your brand. Avoiding influencer payment in the long-term is unethical and can tarnish your brand’s reputation
That being said, the majority of creators say they’d work with a brand for just free products, as long as they genuinely love the brand or the product value is high.
5. YouTube is the most lucrative channel for creators.
When we took a look at the average earnings per month across all social platforms, we found that YouTubers were the most profitable among creators across all channels. In fact, 50% of YouTube creators report earning more than $500 per month from their brand partnerships, compared to the 40% of Instagram creators and 36% of TikTok creators.