The age of creator economy is upon us. No longer just happy endorsing other brands, creators and influencers are monetising their huge social media following by launching products—from sandwiches to make-up lines— to reach their audiences directly. The advent of creators has spawned a whole new economy, one that is at a nascent stage in India but looks all set to grow.
Creators—defined by Li Jin, Founder Atelier Ventures, as those who have built an audience on digital platforms—have not only ushered in a new era of storytelling but also commerce. With an audience that sometimes exceeds the population of megacities, they never had it so good. In India, the influencer market is estimated at $ 75-150 million a year compared to the global market size of $1.75 billion, according to digital marketing agency AdLift.
To make sense of key trends in India, we spoke to several creators, influencer management agencies, startups and investors and here is what we found:
1 Creators as D2C brand founders