Why creators are the next big thing for tech giants

Tech giants Facebook, Twitter, Google's YouTube, and Snap Inc are building tools and announcing dedicated funds to attract individual creators onto their platforms.

The pandemic played a major role in the shifting of the user attention towards individual creators. This also spawned several "creator-first" companies such as Substack and Patreon, which offered a variety of services helping creators build audiences and make money. As large tech firms lacked these services, these companies gained significant traction among creators and posed a serious threat for these tech majors.

Thus, to acquire and retain users, it became crucial for tech giants to bring creators on their respective platforms.