FAANG, interested in Creator Economy?

??Caution: A series of informative and amazing content follows below; you will not want to skip this read!?

One might say that influencer marketing is a fad and not a thing to stay! Well to believe that would be a huge mistake. If one says that this is just ek do din ka mela then why would the world’s biggest companies be eyeing on it? Yes, you heard that right the FAANG's are interested in the creator economy!

FAANG is a fancy acronym for Facebook (Meta), Apple, Amazon, Netflix and Google (Alphabet) that’s why it is fancy! These organisations are dreamy and people around the globe are willing to work with these Tech-giants, but the interesting part is where are these players focusing and utilising their resources currently, further read could be a takeaway from this blog, as all of them have an eye on the Creator Economy and are contributing their best in this industry.?

Creator economy sounds like all fun and frolic! But it’s a much bigger business. Influencer Marketing Hub estimates the total size of the creator economy to be over $104 billion dollars in 2022 and - Let me save your math time - this is a huge number. FAANG seems to have taken a note on the potential of the creator economy and are vigorously investing in its advancement and fulfilment.

Facebook is not just a platform for creators, but is also a tool for monetization and empowerment. Ajit Mohan, Facebook India (Meta) Vice President and Managing Director, in discussion with ET mentions their aim to skill 2,50,000 creators in India over the next three years through the Centre for Fuelling India's New Economy (CFINE) located in Delhi-NCR. This would be focused more towards the use of products and efforts backed by technology and tools to fuel creator’s growth and empower them eventually. This can enable creators to monetize their content at a micro level.

Whereas Apple helps creators CREATE, yes of course. Apple has enabled creators with products, tools and platforms which are incredible. Creator economy has enjoyed quite a leverage with Apple products and services, but at the same time creators are also very valuable and more likely customers for Apple. Creators are more likely to be customers of Apple compared to normal people. From iPhone’s, to shoot the photos/videos at the best quality to MacBooks for processing, editing and developing content and Apple Music to enjoy the best audio streaming quality to platforms like GarageBand and Platoon - Apple has made these resources very handy which enable creators to create and showcase their creativity.

A to Z, Amazon made it actually possible for justifying the A to Z, what changed the dynamics of creator economy is the intervention of Amazon Prime and this platform is like an in-house career platform for most of the professional creators, Prime flooded creator’s cart with opportunities and delivered success with free delivery. Also, it launched programmes like Amazon Influencer Programmes which has been greatly impactful in empowering the creators. Being an Influencer is a career choice for many GenZ kids and working with Amazon goes without saying. That’s something Amazon does incredibly; it helps make things go mainstream. Amazon Twitch and Alexa are also significant contributors to the creator economy tools and platforms.?

Netflix is well known for breaking the stereotypes, the biggest OTT platform has worked not only with mega creators or celebrities but they too have given opportunities and worked with micro and macro influencers. Netflix can be considered as one of the top employers for creators. Netflix has executed and collaborated on a number of campaigns with creators for promoting their shows and to act in their shows, and to act in a Netflix owned web series/movie is like a dream come true for creators. There are numerous Indian creators who got their break from Netflix and are enjoying a stardom of different intensity. In one of its recent web series “Mismatched”, Netflix starred the Indian YouTube sensation Prajakta Kohli, paired against another Indian creator/actor Rohit Saraf along with other few creators as the supporting characters. The series turned out pretty well for the creators, but Netflix also entertained huge business with the creator’s fan base and following - which turned into a big hit.?

Google’s concept of Google for Creators can be a breakthrough for the all-time growing creator industry. It aims at enabling creators to develop and monetize content.

Google facilitates creators, like it does to everyone else, with all the knowledge and competency to create and develop. YouTube is a literal gift from Google to the world. According to IMH, half the professional creators, or approximately 1 million, earn their money on YouTube. A consulting firm, Oxford Economics in their report on collaboration with YouTube mentions the creator economy on YouTube contributed Rs 6,800 crore to India's GDP and raised 6,83,900 full-time jobs in 2020. YouTube changed the dynamics of not just the creator industry, but also has elite social and cultural influence. Therefore, Google has soaked the blooming seeds of the creator economy and nurtured it since day one and will continue for the years to come.??

-----------------------------------------------------

Well, when such big forces are being involved in the creator economy, it would be right to conclude that Influencer Marketing is going to stay and not just stay, boom in the coming years and the world will watch the Creators bloom the Economy!??

What are your thoughts on the involvement of FAANG in the Creator Economy? Do share your thoughts too.

-----------------------------------------------------

Credits:?Ayushi Vora?|?Simran Sandhu?|?Prince Parikh

If you wish to work & grow with us,?Click Here