The Rise of the Creator Economy

creator economy podcast podcasting video

Lights, camera —> anyone!

There was a time when the phrase “Lights, Camera, Action” was only heard within the exclusive walls of Hollywood studios. Not so these days! 

The past two decades have seen the rise of the Creator Economy…the lowering of technological barriers facilitates anyone to generate an income through delivering content to an audience.

Social media enables access to audiences without the need to go through a broadcaster or publisher. But creators need access to technological tools to streamline the process of making fab content.

Evolution of the Creator Economy

According to Medium.com’s article ‘Evolution of the Creator Economy’, this progression follows a pattern that’s evident in any given creative industry: 

  1. Pioneer Era — first-movers create their own technologies, e.g. Pixar, Amazon, Zynga;
  2. Engineering Era — bottoms-up tools and middleware emerge to support overwhelmed engineering teams, e.g. Ruby on Rails, Stripe;
  3. Creator Era — top-down tools emerge to support a much larger market of creators and disrupt many of the businesses of the prior eras, e.g. Adobe, Shopify, YouTube.
Source: Silverwood Partners’ Media Technology: Strategic Industry Analysis 2022

Prosumer technologies take centre stage

Enabling “prosumer” technologies are a key symbol of the Creator Era. Musicians are expected to expand beyond streaming services like Spotify and Apple Music to technologies that drive discovery on those platforms and empower them to connect with their fans. 

We are also seeing a convergence of podcasts and videos; for example, OffCamera with Sam Jones, which records interviews with filmmakers then releases the audio as a podcast and the black-and-white video footage as an online TV show.

According to Bloomberg, YouTube is reaching out to podcasters and podcast networks, offering “grants” of up to $50,000 to individual shows and $200,000 and $300,000 to podcast networks to entice them to create video versions of their shows. 

Silverwood Partners’ Media Technology: Strategic Industry Analysis 2022 says YouTube’s decision to effectively fund podcasters’ adoption of video serves to validate a wider-industry trend: video will pervade all aspects of entertainment.

Tap into the Creator Economy

If you’d like to tap into the opportunities the Creator Economy offers, please reach out to us for a free demo of our video management platform. 

Latest Blog Posts

The Impact of the Creator Economy

In our last post, we looked at the rise of the Creator Economy. Now, let’s take a look at its impact.

This revolutionary phenomenon means that people who create content — from filmmakers to musicians — get funded directly by their audience. This has the disruptive impact of removing the traditional middlemen like record labels, film/TV commissioners, and publishers.

This has created amazing opportunities for content creators.

The Demand for Remote-Enabling Video Technology

Practically everyone owns a smartphone these days; therefore, we all carry a mini computer in our pockets. But, more than that, phones can record video clips and you can edit that footage through apps; so, effectively, we are all walking around with full video production capabilities.

So, armed with this portable video technology, it must be a piece of cake to make professional-looking videos, right?

Wrong!

Remote Work: The Evolution of Enterprise Video

Enterprise video has long been one of the key tools for small to medium-sized companies to fulfil their business objectives. But when the pandemic dispatched us to our homes to work remotely, suddenly it wasn’t so easy to create, collaborate on, and broadcasting video. Work had changed. Leveraging video for business was about to change too.

How Enterprises Are Creating Video More Easily

There’s no denying the domination of video with more than two billion monthly active users on YouTube and one billion on TikTok.

In our last post, we looked at trends in the acceleration of video management technology, which is driven by factors such as remote working, the ever-increasing demand for streaming content, and the rise of video content creators.

However, the ‘players’ — streamers, creators, and enterprises — have had to face the reality that the old way of working with video simply isn’t viable any more.

Trends in the Acceleration of Video Management Technology

Are digital natives planning to take over the world? You may well think so if you look at the media technology industry, where trends support an increasingly digital-native economy.

The COVID pandemic jump-started an era of mass remote working, which meant that video creators — who rely on collaborative processes — struggled with searching for clips, reviews and approvals, tracking assets, transcoding, etc. This accelerated technological innovation…as tech companies raced to meet the needs of a broad range of video creators and media companies.

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