The creator economy’s explosive growth has largely outstripped the means to support the creators fueling it.
The market size of the creator economy is estimated to be more than $104 billion, yet 78% of creators who consider themselves full-time only make $23,500 annually, according to Influencer Marketing Hub. It’s not just that creators are struggling to patch together a livable wage from ad revenue, merch sales, creator funds, tips, and so forth. They’re also challenged by not having sufficient capital on hand to grow their businesses.
Historically, traditional banks have been wary of lending to creators, which has paved a path from venture capitalists and fintech startups to close the gap.
One of the latest companies aiming to support creators financially is Spotter.
Spotter, which soft-launched in 2019, provides YouTube creators with lump-sum capital in exchange for acquiring the rights to their back catalog of videos for a limited time. (Creators retain control and…
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Source : fastcompany.com
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