The news: CES isn’t just about consumer electronics anymore. The creator economy had a massive presence at this year’s show, including a new “Creator Economy and NFTs” conference track.
We sat in on two sessions, “Welcome to the Creator Economy 2.0” and “Power Platforms: The New Tech Powering the Creator Economy.”
What we learned: Five big themes for 2023 dominated both conversations, which featured key names in the creator industry, including Mekanism’s chief innovation officer Brendan Gahan, Pietra’s CEO Ronak Trivedi, and Cameo’s co-founder and CEO Steven Galanis, among others.
The big picture: The creator economy has infiltrated almost every industry and is reshaping how consumers think about work and making a living. One in 4 US consumers ages 16 to 25 plan to become a social media influencer, per a July 2022 study by digital marketing agency HigherVisibility.
“The world of the creator economy is just the new economy,” said creator Samir Chaudry of Colin and Samir. “It’s about building audiences first and then figuring out how to monetize.”
Yes, but: Investment in the creator economy is reportedly slowing, and the social platforms are streamlining or shuttering some of their initiatives as they bring creator monetization in-house and refocus on products that directly relate to driving ad revenue. While the creator economy is clearly alive and well, it’s not immune to today’s economic reality.
Advertiser takeaway: As the economic downturn continues to weigh down ad budgets and disrupt industry norms, creators provide a cost-effective and inventive way for brands to reach their audiences through boosted content. Meanwhile, creators will be brands’ ticket into a crop of new Gen Z-focused apps, including BeReal, that may not offer advertising options when they launch their monetization models.
Go further: Here’s more of our CES coverage: