The ‘Creator’ revolution is upon us. The dynamic industry opens more possibilities when you feel you have seen it all. ‘Influencers’ that started from their living rooms and bedrooms today are entrepreneurs and lead actors. The examples are endless, like Prajakta Kohli, a YouTube sensation going on to star in a Dharma Film and play lead in a series on Netflix. You see them not only rubbing shoulders but also in neck-to-neck competition with rather traditional celebrities.
Talking to Prateek Sur, Vijay Subramaniam, Founder and Group CEO, Collective Artists Network shares quick insights behind this massive industry and where he sees it heading. He is at the helm of Collective Artists Network, an integrated creator community which manages the best and most promising creator talent from India. Excerpts from the short and candid chat:
For starters, can you tell us what exactly the creator economy is?
The creator economy basically encompasses all content that can be turned into a business by its creators. These can be individuals, or they can be teams. They also include businesses that provide services or support functions like analytics and hosting.
How much potential do you see in the creator market?
I have to say a LOT. I mean otherwise, I would not be building a whole business around it. The thing is that creators are now entrepreneurs, they are all running their own content businesses. That is our focus, it’s what we want to empower in India where we are still in an early stage. Something that really blows my mind is the fact that in just one day in October 2021, two of China's top live-streamers, Li Jiaqi and Viya sold $3 billion worth of goods. This is the power of social commerce. It is set to sweep the world, growing into a $1.2 trillion industry.
How much earning potential is there in the creator ecosystem?
The sky is the limit if you ask me. One of my favorite examples to give is that of Beyounick. He was a bartender in Dombivli that just made funny videos on the internet for laughs. As he got more and more followers, he started doing sketch comedies on YouTube which is where he really took off and started doing content for brands and then there was no looking back. He now has his own merchandise line and is an investor in companies from Gaming to FMCG to Blockchain.
Where will the next big creator come from?
That’s a very interesting question and I have no idea how to answer it. Mobile penetration is still rising, new creators are emerging every day. Content is agnostic of language, region, age and culture. So, we never know where the next creator will come from, what kind of content they may make and how much they can really grow. This unpredictability is what makes this space so exciting. From where we stand now, the possibilities are endless.