Influencer marketing agency NeoReach has released an extensive annual survey analyzing trends in the booming influencer marketing industry. Their new “2023 Creator Earnings Report” provides a data-driven look at the creator economy based on over 2,000 anonymous survey responses from a diverse pool of small, part-time creators and larger, full-time veteran influencers.
The report reveals the creator economy is expected to generate a staggering $480 billion in revenue by 2027, representing the fastest-growing sub-industry within digital media. Regarding the creators, 44.9% of surveyed individuals identify as full-time, up 10% from last year.
The space is rapidly expanding, but significant pay disparities exist. The survey finds an overwhelming 48.1% of creators earn $15,000 or less annually. However, male creators stand to make a median annual income of $22,000 compared to just $12,000 for female creators, highlighting a sizeable gender pay gap.
When asked about their dream income to pursue content creation full-time, over 300 participants responded they would need between $5,000-$7,500 per month. An additional 288 creators stated an income over $50,000 annually would allow them to become full-time influencers.
Creators predominantly sustain themselves through brand deals, with 66.92% citing this as their primary revenue stream. However, in a “perfect world,” 45.7% of creators would prefer their main income to come from ad share revenue partnerships with platforms.
The survey data indicates that 68.6% of creators have over 3 years of experience, making them veteran voices helping shape the industry. Still, these seasoned influencers face persistent challenges like securing brand deals that align with their content, deciphering algorithms, and grappling with oversaturation.
Surveyed creators expressed frustrations with inconsistent compensation, lack of diversity initiatives, and excessive “gift” marketing that doesn’t provide monetary payments. As one anonymous respondent stated, “Brands who think they can only get results from mega influencers” remain an issue, along with “lack of in-app monetization opportunities” and “brands who undercut creators.”
Despite the hurdles, creators remain passionate about their craft. Many cite the flexibility, community-building, and ability to pursue their interests as core drivers. As one respondent shared, “I love sharing my home and decor…and giving them a discount code on things that I know they will appreciate!”
The report predicts that user-generated content and authentic, niche offerings will become principal trends as creators seek to differentiate themselves. Newer monetization platforms like OnlyFans and Kick, which offer more favorable revenue shares, may also gain traction.
The insights from NeoReach’s research provide a candid, data-driven glimpse into the rewards and roadblocks defining the influencer economy from the creator’s perspective. Read the full report here.
David Adler is an entrepreneur and freelance blog post writer who enjoys writing about business, entrepreneurship, travel and the influencer marketing space.
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Influencer marketing agency NeoReach has released an extensive annual survey analyzing trends in the booming influencer marketing industry. Their new “2023 Creator Earnings Report” provides a data-driven look at the creator economy based on over 2,000 anonymous survey responses from a diverse pool of small, part-time creators and larger, full-time veteran influencers.
The report reveals the creator economy is expected to generate a staggering $480 billion in revenue by 2027, representing the fastest-growing sub-industry within digital media. Regarding the creators, 44.9% of surveyed individuals identify as full-time, up 10% from last year.
The space is rapidly expanding, but significant pay disparities exist. The survey finds an overwhelming 48.1% of creators earn $15,000 or less annually. However, male creators stand to make a median annual income of $22,000 compared to just $12,000 for female creators, highlighting a sizeable gender pay gap.
When asked about their dream income to pursue content creation full-time, over 300 participants responded they would need between $5,000-$7,500 per month. An additional 288 creators stated an income over $50,000 annually would allow them to become full-time influencers.
Creators predominantly sustain themselves through brand deals, with 66.92% citing this as their primary revenue stream. However, in a “perfect world,” 45.7% of creators would prefer their main income to come from ad share revenue partnerships with platforms.
The survey data indicates that 68.6% of creators have over 3 years of experience, making them veteran voices helping shape the industry. Still, these seasoned influencers face persistent challenges like securing brand deals that align with their content, deciphering algorithms, and grappling with oversaturation.
Surveyed creators expressed frustrations with inconsistent compensation, lack of diversity initiatives, and excessive “gift” marketing that doesn’t provide monetary payments. As one anonymous respondent stated, “Brands who think they can only get results from mega influencers” remain an issue, along with “lack of in-app monetization opportunities” and “brands who undercut creators.”
Despite the hurdles, creators remain passionate about their craft. Many cite the flexibility, community-building, and ability to pursue their interests as core drivers. As one respondent shared, “I love sharing my home and decor…and giving them a discount code on things that I know they will appreciate!”
The report predicts that user-generated content and authentic, niche offerings will become principal trends as creators seek to differentiate themselves. Newer monetization platforms like OnlyFans and Kick, which offer more favorable revenue shares, may also gain traction.
The insights from NeoReach’s research provide a candid, data-driven glimpse into the rewards and roadblocks defining the influencer economy from the creator’s perspective. Read the full report here.