It’s an interesting phrase, but what does it mean? Some believe that creator economy is the future. So, how will the creator economy in South Miami-Dade impact economic growth?
What Does “Creator Economy” Mean?
Have you heard of content creators? Maybe you’ve seen them on your favorite YouTube channel, Instagram, or TikTok. Those people are part of a rather large class of businesses that make up the creator economy.
These individuals can be videographers, vloggers, and social media influencers. They are the “Creative Class” and their influence on the economy is bigger than you might realize.
How Does the Creator Economy Impact Economic Growth?
The creator economy in South Miami-Dade and all over the world means more money. According to Forbes Magazine, there were approximately 80 million people who posted their content online. The revenue from this creativity? More than $100 billion.
So, what does all this mean for economic growth? There are some experts who predict social influence will be a replacement for a college degree, as a creator’s online business experience can make them eligible for high-paying corporate jobs.
As brick and mortar shopping shifts even more to online shopping, we’ll see an upswing in e-commerce. There is real, measurable potential in building online audiences for entertainment and business.
Lastly, existing businesses have an opportunity for enormous growth. Building an online community further expands advertising and engages more customers, therefore increasing overall profit.
Local government has a real opportunity to support the creator economy through public policy. Taking the time to identify and support creator economy filters into college courses, high-tech development, community outreach, and assistance to low-income content creators.
There is also the possibility of shared pools for health insurance, as well as the development of scholarship programs. The possibilities are endless!
Are You Interested in Learning More About the Creator Economy in South Miami-Dade? Contact the Economic Development Council!
If you’ve got a creative business idea or have started a business and need assistance, we’ve got resources! Contact the Economic Development Council of South Miami-Dade today to learn more!