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Today’s creator economy was built on subscribers and patrons – what comes next?

78 pointsby nickfrostabout 3 years ago

18 comments

gregdoesitabout 3 years ago
I unexpectedly found myself in the &quot;successful creator&quot; bucket since a few months ago so I might be able to speak to this. I write the top paid technology newsletter on Substack, bringing in enough to pursue this writing - or, as many call it &quot;creating&quot; - full-time.<p>Despite being considered a successful creator, I don’t think that “creator” is a real thing - at least not a category anyone can, or should aim for.<p>Being a creator means the content that you create gets significant enough attention. What you do with this attention is what really matters. To be a successful creator and not burn out, you need to build a one-person business that is both profitable, and sustainable. Doing this is much harder to do than most people realize. It&#x27;s something that is hard to just &quot;wing it&quot;. At the same time, winging it is exactly the strategy that most creators are following.<p>The reality is that most creators don&#x27;t think of what they do from a business, or sustainability side. No one is telling people who accidentally became successful creators to think of this as a business, or side business. I&#x27;m not surprised so many creators end up burnt out, or surprised that on a crowded market with no real differentiation or long-term strategy, they start losing attention they once had.<p>What helped me is how I had been planning to start a company for some time. I did the studying and research on what it takes to run a business. I&#x27;m still doing what I was preparing to do so: but instead of running a venture-funded startup, I&#x27;m doing a bootstrapped, one-person business. One that many people refer to as being a creator.
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giantg2about 3 years ago
I don&#x27;t want to see what comes next. It&#x27;s been a continuous negative slide for as long as I&#x27;ve been alive. Goodbye union jobs with benefits and pensions (that didn&#x27;t require college either!). Goodbye full time jobs with benefits. Hello gig economy, creator economy, social media influencers, etc. Based on that trajectory, I expect our kids will be living in a Blade Runner-esque post apocalyptic grungy world hustling NFTs to pay for a bowl of ramen.
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florenabout 3 years ago
I just want to read about&#x2F;see things created by people who like what they are doing and who <i>aren&#x27;t</i> chasing fans&#x2F;subscribers&#x2F;patrons. The most interesting stuff on the Internet, to me, is when a person puts up a crappy HTML page with 5 years worth of notes about using a particular hiking backpack. The presence of a single affiliate marketing link makes anyone&#x27;s opinion instantly suspect. A link to a Patreon page invalidates the very &quot;authentic&quot; feeling they were striving for.
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blueridgeabout 3 years ago
I think people have been totally brainwashed by the idea of finding success within the creator economy.<p>For instance, hobbies are no longer things one does because they bring joy—they&#x27;re now activities that people haven&#x27;t figured out how to monetize. Before you’ve purchased a pound of clay and a pottery wheel—before you’ve even made your first mug—you’re buying a domain, designing a logo, and thinking about whether to sell your ceramics on Etsy or Shopify. And maybe you&#x27;ll start a Patreon to document the learning process. I think for people who have been formed by the creator economy, people who have grown up in this space, the impulse to create and SELL seems almost pathological.<p>Then, there are the people who are afflicted with what I&#x27;m calling curatorial neuroticism. These are people who view curation as creation—they curate and share at a frantic pace. They gather, organize, present, and archive information obsessively. There&#x27;s no stopping them. They spend more time writing in their seventh iteration of their Zettelkasten than they do interacting with people. If only I could get organized, if I could only &quot;cultivate my second brain&quot;, I will unlock my creative potential, I&#x27;ll figure out how to make money on Substack with a highly curated newsletter, or something.<p>What I sense in the curatorial creation is not really a &quot;product&quot;, but a need to be seen. People share what they share—all of the lists, and links, and archives—so that they are viewed as having a certain literary taste, or wanting to be seen as having read these books, watched these movies, and so on.<p>Anyway, a quote from: Leisure, The Basis of Culture:<p>&quot;I have never bothered or asked&quot;, Goethe said to Friedrich Sort in 1830, &quot;in what way was I useful to society as a whole; I contended myself with expressing what I recognized as good and true. That has certainly been useful in a wide circle; but that was not the aim; it was the necessary result.&quot;
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8bitsruleabout 3 years ago
&gt;What comes next?<p>Pretty much what happened to 95% of rock&#x27;n&#x27;roll bands, I&#x27;d guess. Either the big guys smell an opportunity and &#x27;let&#x27; you have enough to keep working ... or you become a one-hit wonder.<p>Honestly, there aren&#x27;t that many truly creative people. One giant is followed by a thousand wannabes. The gifted need to find new, uninfected ways to nourish <i>and protect</i> themselves ... with a minimum loss of creative time ... or else. One dedicated server, a couple of maintainers and an accountant would keep them away from all the sharks. Then it&#x27;s up to word-of-mouth.
blakesterzabout 3 years ago
&quot;In recent years, the volume of creators has skyrocketed. In just 2020 and 2021, the number leapt by 48% and growth isn’t slowing down. With a glut of incoming talent, incumbent creatives are feeling the squeeze.&quot;<p>That number seemed... odd to me, but I think he&#x27;s citing this from Stripe, which I guess make sense?<p><a href="https:&#x2F;&#x2F;stripe.com&#x2F;blog&#x2F;creator-economy" rel="nofollow">https:&#x2F;&#x2F;stripe.com&#x2F;blog&#x2F;creator-economy</a><p>&quot;In aggregating monetization across these 50 platforms, we’ve found that creators will soon pass more than $10 billion in aggregate earnings. While 2020 saw a jump in new creators, it wasn’t a one-time spike. A year later, creators are still coming online at a record clip: the number of creators is up a whopping 48% year-over-year. In total, these platforms have onboarded 668,000 creators.&quot;
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woodruffwabout 3 years ago
I would hope that it&#x27;s sustainable and <i>cheap</i> micropayments: I would love to be able to instantly pay anywhere between $0.01 and $1 for a piece of content, directly from within my browser, without either a bank or some cryptocurrency company trying to inject themselves into the process (and, for the latter, burning tires while doing it).<p>I think that&#x27;s a pipe dream, but I can hope.
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jpmoralabout 3 years ago
I don&#x27;t understand all the hand-wringing in the comments that creative people being paid somehow makes them a sell-out or will otherwise ruin the hobby&#x2F;field&#x2F;employment landscape&#x2F;whatever else.<p>Are there people churning out crap hoping to make a quick buck? Yes. Are there corporations trying to exploit creators and fans? Yes. Are there other problems I&#x27;m not even aware of? In all probability, yes.<p>But I also see a lot of good things happening. Examples from my own interests:<p>Table-top RPGs: before, you only got to play whatever was available at your local store (if you even had one) which was probably whatever the big companies put out (D&amp;D) or your own crappy homebrew system. Maybe you hear about something amazing someone else has done and if you&#x27;re lucky you get a photocopy&#x2F;scan of their notes and try to figure things out from that. Today, you can discover heaps of amazing games and support their creators through Kickstarter, YouTube, Patreon, etc.<p>Muay Thai: I support someone on Patreon and YouTube who puts out tons of content. Hours and hours of her own training footage (with fighters past and present, many of them legends) with commentary. Full videos of all her fights (270 and counting), again with commentary. Commentary on legendary fights. Interviews with MT legends. A long-form podcast. Long-form articles. These cover not just technique but also culture and history. All done for love of the art but also costing money. I don&#x27;t know how else all this can be made available to a wide audience and be preserved for future generations.
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pete_nicabout 3 years ago
The article concludes that building complementary businesses comes next. As a part-time creator that is interested in turning it into a business, I view any ad generated revenue as cash that can be invested into building a complimentary business. These massive platforms, YouTube, TikTok, etc. should be viewed as customer interaction tools rather than primary revenue drivers.
dsirabout 3 years ago
My friend and I have been working rigorously in our free time building a platform related to this space. We really feel that the community that forms around a creator is a creators biggest value capture. Our platform is intended to help centralize that community of core fans and give them ways to engage in deeper ways with one another. Looking to move out of our alpha stage in the near future.<p><a href="https:&#x2F;&#x2F;aurdia.com&#x2F;creators&#x2F;" rel="nofollow">https:&#x2F;&#x2F;aurdia.com&#x2F;creators&#x2F;</a>
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softwarebewareabout 3 years ago
When I read this article, I had my usual immediate reaction to the phrase &quot;creator economy:&quot; is that actually a thing? If you add up all the net profit made in the so-called creator economy does it amount to anything interesting? I suspect it&#x27;s just one drop in a bucket that amounts to a long tail of menial low-paying jobs.
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Animatsabout 3 years ago
Whats next? FOMO as a service.<p>Here&#x27;s Bored Ape Yacht Club&#x27;s pitch deck.[1]<p>&quot;BAYC is just the beginning. We are building the next frontier&quot;.<p>&quot;The FOMO is real. For every BAYC member there are hundreds dying to gain access.&quot;<p>[1] <a href="https:&#x2F;&#x2F;twitter.com&#x2F;LeonidasNFT&#x2F;status&#x2F;1505058932758360064" rel="nofollow">https:&#x2F;&#x2F;twitter.com&#x2F;LeonidasNFT&#x2F;status&#x2F;1505058932758360064</a>
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user_namedabout 3 years ago
What&#x27;s next is successful writers on substack grouping together, to reduce pressure on publishing too frequently, and to be able to keep quality up. That becomes a publication. After that, they will let writers with no or smaller followings contribute their work in exchange for compensation. This is how the next generation or magazines and newspapers will be created.
anon23anonabout 3 years ago
souls. Give me your soul.
gumbyabout 3 years ago
Gosh, apparently I’m not a “creator” or a “creative”. Sux to be me.<p>I did co-create a kid. Should I be demanding residuals?<p>Phooey.
Eddy_Viscosity2about 3 years ago
What comes next? Suffering and existential dread.
qualudeheartabout 3 years ago
I predict shady nft scams left and right.
disambiguationabout 3 years ago
Next comes a universal digital ledger. You will no longer collect or spend in a meaningful sense. &quot;intelligent algorithms&quot; will determine how to allocate resources at scale.<p>This is already happening to some extent given most people live paycheck to paycheck and &quot;intelligent algorithms&quot; can be replaced with &quot;investor class&quot;.
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