The infopreneurs and Tier-2 cities are leading as the creator economy surpasses the mark of $100 billion dollar, highlighted a recent survey by Classplus.
Survey further shows that the creator economy, once dominated by entertainers, is now witnessing a significant shift towards education and knowledge sharing, giving rise to a new breed of creators- ‘infopreneurs’.
Sectors such as personal development, health and fitness, personal finance, etc., have seen significant growth, indicating a strong demand for creator-led educational content, as per the report.
Moreover, the report claims that the e-learning industry is projected to exceed $460 billion by 2026, representing a vast opportunity for creators in the educational space.
Fearing the unpredictability of ad revenue and seasonal brand deals on social media, creators are diversifying their income streams and turning to entrepreneurship to build sustainable revenue through digital learning products, as stated in the survey.
According to a survey, 77% of creators said algorithm changes had a moderate-to-significant impact on their audience engagement. Additionally, 25% of creators estimated they’ve lost $1,000-$9,999 in revenue due to algorithmic changes, and 24% estimated $10,000-$49,999 in losses.
Report further claims a rise of the creator economy that has coincided with an increase in financial awareness among retail investors. The number of investor accounts has surged from 3.93 crore in December 2019 to 13.23crore by the end of October 2023.
Creator-led courses are gaining traction as alternatives to the traditional education system. The appeal lies in its flexibility and accessibility, allowing individuals to upskill at their own pace from anywhere at an affordable cost.The demand for online creator-led courses is soaring withcoding, digital marketing, and personality developmentwitnessing remarkable growth. Professionals are also engaging with leaders from major tech companies for one on one mentorship and consultations, as per the survey.