Creators' financial stability seems to be pretty dire as almost half (46%) of full-time content makers earn less than $1,000 annually, TechCrunch has learned, citing data provided by Linktree, a launchpad for social media reference. Here's what the company's report essentially says:
It turned out there's also a darkside in the creator economy as many content makers have to deal with psychological problems:
- About 39% of them consistently deal with stress.
- Over 40% of part-time creators say they find their online activities "sometimes stressful."
- Approximately 13% of them say they have to cope with "extreme stress."
Matter of money
It seems there's also no way to make a fast buck as only 12% of full-time creators earn over $50,000 annually, while 46% of them make less than $1,000 annually. Moreover:
- There's no direct correlation between time spent on content and annual income.
- Approx. 32% make up to $10,000 per year. They also spend over 10 hours a week on content.
- About 52% of those who make between $50,000 and $100,000 spend less than 10 a week making content.
- Almost 66% of creators consider their online interests as a "side hustle." At the same time, 36% of them have been in the industry for 1 year or less.
- Among newbie creators, only 6% have made over $10,000.
No proven way
While some might believe the market is full of opportunities, the data shows that the space is still in its early innings:
- 35% of creators have monetized their content but failed to make enough for a "livable income." Meanwhile, 59% of them haven’t monetized content at all.
- About 70% of content makers made less than 10% of their total income from brand partnerships, which means there's no proven way to consistently make money.
- 12% of creators earn even less than $100 per collaboration with a brand.
For the poll, Linktree reportedly surveyed 9,500 creators. Eric Jacks, Chief Strategy Officer at Collab, which helped with the poll, told the media that it's still difficult to be a creator. The report also depicts "how important it is for creators to find partners, platforms and services that streamline monetization opportunities," Jacks added.
Read also: Instagram to help newbie creators