Dreaming of becoming the next MrBeast, PewDiePie or lame Khaby, millions of Americans are now producing content on platforms like YouTube, Instagram, Facebook, Tik Tok and Twitch, in hopes of becoming the next hot influencer.
7.1 million freelancers now earn income through the designer economy, according to a research brief from MBO Partners, a provider of back-office services for the self-employed.
For 37% of these content creators, it’s a full-time activity; the others are part-time, according to the report, “Welcome to the designer economy. âBut many aren’t making millions or something. 59% have yet to quit their full-time jobs.
So who are the independent entrepreneurs who are getting into this field? Many are young men. In total, 76% are under 40 and 55% are men.
48% are Millennials
27% are in the GenZ
17% are in GenX
Â· 8% are baby boomers.
The area attracts diverse talents. While white and Asian content creators are represented at roughly the same percentage as in the US population, African Americans, who make up 12% of the US population, make up 19% of digital content creators. Hispanic creators are still under-represented, accounting for 8% of content creators, less than their 19% share of the population.
Most of these influencers are enjoying their careers. 83% of digital content creators say they are very satisfied with their work, while 9% say they are satisfied. Only 4% are dissatisfied. 82% plan to continue working in this field over the next 2-3 years, with some planning to expand their business. Interestingly, 83% say they are happier than if they had a traditional job, and 84% say they are healthier.
Almost all (89%) identify themselves as early adopters of technology and 83% report that they are users of advanced technology. 96% of content creators say social media is very important or important enough in building their reputation or brand online.
The report highlights some downsides to this type of career: unstable income, the constant need for self-marketing, and the lack of health benefits. And it’s not easy to fill the giant social media mouth with a constant flow of engaging content. 34% of content creators struggle with burnout and set limits around their work.
But MBO Partners predicts the field will only grow as Gen Z enters the workforce. Not to mention the growing number of startups providing tools to these creators. Venture capital firms invested $ 2 billion in creative economy startups in the first half of 2021, the report points out. As Instagram and Tik Tok’s next competitor comes into the picture, so too will many more content creators.