Wanna be Influencer
Influencers v/s Content Creators, The Advertising Swindle, Creator Economy in India
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Where did people spend most of their time in the 90s?
Perhaps listening to the radio or reading the newspaper. Hence there was money to be earned there.
Fast forward to the 2000s, everyone was watching television, therefore there was a bandwidth to make money out of it.
Now accelerating it to today, we spend most of our time on our smartphones toggling through various media platforms consuming content.
Welcome to the Creator Economy!!
Who is a Creator?
The answer is everyone. We are all creating something every single day. My grandmother knits a sweater- she's a creator, my sister plays the guitar- she's a creator, someone cooks a delicious dish- they are creators. Anything that you create or share and has value in it for the respective audience refers to the organic content, and the one originating it refers to a creator. You put up a dance video on the web- you have added entertainment, You share a skill online with your followers- you have created value. Becoming a creator today is as easy as pie.
Content Creator v/s Influencer
The sole purpose of the content creator is to generate pure quality content that stands out. Their focus is not necessarily on audience engagement but beautiful content, whereas Influencers focus more on engagement and community building. The content might not be as insanely high as content creators but is still engaging and interesting. Recently Influencer has been a buzzword. Marketers had cleverly tapped the influence of celebrities across domains to weave stories around their solutions, with the customer at the center. Across social networks, influencers and micro-influencers have become a rage with brands and consumers alike. While content creators are in it for the art itself, influencers build communities to connect and help their followers, which means occasionally influencing an audience’s purchasing decisions.
The Advertising Swindle
The ideal creator economy is the system in which creators don't have to rely on ads revenue rather it is a system where creators can focus on the quality of the content while directly monetizing it. This giant ecosystem will fall apart if they are still dependent on advertising money.
There are four stakeholders when it comes to earning money through ads.
The Brand that pays the money
The Creator
The social media platform acting as a mediator
The Audience
The goal of the Creator Economy is to eliminate the 1st bullet and to keep the latter three stakeholders in the ecosystem.
The deliverable platform should allow the creator to generate content and monetize the content through subscriptions, donations, social commerce, or tips. The audience gets access to valuable content in exchange for a small amount of money like a Netflix subscription. Other platforms that provide such attributes include Substack, Patreon, Shopify, etc.
Paying for good content >> Paying for attention.
Creator Economy in India
India is a massive marketplace for creators with over 560 million people with an active internet connection. There is so much diversity in culture, languages, food, lifestyle, etc. And every individual wants to consume content resonating with their living pattern that makes this economy even bigger. Now the creators have this zeal to bring out content for these niche-specific audiences. Statistics show that 95% of users on YouTube India consume content in local languages and dialects.
Soon there will be a creator wave that will come in India and maybe in the end we will dominate this industry/economy in the coming years.
Marc Anderson (from a16z- one of the hottest venture capital firms in Silicon Valley), referred to the creator economy as the third wave of the internet. In the first wave of the internet- no one made or spent money online. In the second wave- online services made money through ads revenue. In this third wave- subscribers and creators will be directly connected enabling creators to leverage their content on the internet.
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Nishchal Mehta
Team Rubric