Independent content creators--those who have tens of thousands of subscribers on online channels--are stressed and under-compensated, going by the largest survey of creators ever done.
This when social-media platforms seem to be falling over themselves and launching new channels, to woo these creators.65% of the creators feel overworked and/or underpaid, said the report titled “From dependence to independence” and prepared by the Nonfiction Research and Bodacious Strategy Studio. The report, which covered 1,624 creators, was commissioned by Mighty Networks.Only 35% of the surveyed said that “they’re earning a reasonable income and putting in an acceptable amount of time and effort”.While there are more income streams than ever before, nearly a fourth of the creators said that they doubt if they can make a financially viable business before burning out. Advertising still brings the largest share of revenue at 61%, followed by paid subscriptions (38%) and tips from fans (36%). “It’s tough because you are literally at the mercy of an algorithm. It wants consistency and product. And it wants it on the regular. It’s not sustainable for a human being... In fact, it’s not human,” said one of the respondents.“When you look under the hood at a creator’s business, the foundation is shaky AF,” said the report.Algorithms can take away a creator’s audience base and can even turn away from a creator. “70% say that a dip in earnings from an algorithm change could have ‘serious effects’ on their life,” said the report. Advertisers can drop the content and the platforms on which the creators have built their business can become defunct. In every case, the creator has no recourse.New creatorThe report is hopeful about a new breed of creators who are finding a way to get around this exploitative equation.These creators follow three principles. One, they own a direct relationship with the audience, rather than renting it from the social-media platform. They do this by relying on direct revenue, through subscriptions, tips and memberships; and by having a website on which fans can engage.Two, they create a community and not just audiences. On such communities, audiences can interact with each other and not just the creator.Three, they build networks between people (like what Facebook and Instagram did) and not just spend their energies on providing content demanded by social-media platforms. On these networks, which run on creator-owned websites, users can interact with each other and even generate value for each other.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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