Are Social Media Influencers Getting Rich or Barely Getting By?

So the Wall Street Journal just put out an article entitled, “Social-Media Influencers Aren’t Getting Rich — They’re Barely Getting By .” They are basically saying that “platforms are paying less for popular posts, brands are pickier about partnerships and a possible TikTok ban looms.”

The article goes on to say that “Many people dream of becoming social-media stars like YouTube’s MrBeast or TikTok’s Charli D’Amelio. But for most who pursue careers as content creators, just making ends meet is a lofty goal.”

So, is this true?

Well, most of us are members here on Medium.com . Are your earnings decreasing? I’ve heard a mixed bag from different writers here on this platform. Some say they actually left the platform because of low earnings month after month, and I’ve heard some say that their earnings are only getting better month after month.

Speaking only for myself, last month I had my highest earning month on record on Medium. But this month, I seem to have hit a brick wall. No matter how much work I put into it, I can’t seem to get the numbers to move up significantly.

Related reading: Creators are quitting YouTube… why? by Dan Koe

I have not been able to sell any eBooks on Gumroad and I lost 3 paid subscribers on Substack last week.

So, what’s going on? Is the competition for an audience growing fierce? Is the content creator industry getting oversaturated, so these platforms are deciding to pay less?

According to Forbes magazine, in 2021, the creator economy was valued at $104 billion, and it is projected to reach nearly half a trillion by 2027 .

I don’t know about you, but I’m gonna stay on the content creator train and see how far it can take me. With that said, let’s go over 4 great places for content creators to hang out:

Continue reading on Substack