A new report from influencer platform Kajabi, “State of Creators ‘24,” examines strategies used by top-earning online creators making over $100,000 per year. The research analyzes over 2,000 creators to identify behaviors and business models separating the highest earners from the rest.

The report finds that while two-thirds of creators rely on just one revenue source – in 2022, this was brand deals – the most successful creators diversify their income across an average of five or more revenue streams. Creators making over $150,000 annually tend to have seven distinct income sources.

“The real money lies in diversification and ownership—not just followers,” the report reads, emphasizing that these creators are “in control of their businesses, evolving how they earn and diversify their income streams.”

For these creators, online courses represent their single most significant revenue driver amongst the various “digital products” they sell. Many also maintain significant income from YouTube, with nearly half claiming they would lose over $50,000 per year if cut off from the platform, according to the report.

However, the data shows top creators prudently avoid overreliance on any single social media channel’s monetization policies. While leveraging social media for marketing and audience-building, they utilize lead-generation tactics to convert followers into paying customers for proprietary offerings hosted on their own websites and sales funnels.

The Kajabi report surfaces other traits setting apart the highest earners:

• 60% admit to considering sponsorship deals that contradict their values if compensation is high enough.
• They reach $100,000+ annual revenue in under two years at double the rate of others.
• They utilize AI tools for marketing and product creation twice as frequently.
• 40%+ own homes and regularly contribute to retirement accounts.

As the creator economy rapidly expands, the survey also reveals how top creators view recent industry developments:

• Nearly 50% support the idea of a creator union to address payment policies and content rights.
• Economic uncertainty makes many worried about relying on brand deals in 2024.
• Creators have low trust in social platforms and want fairer compensation models.
• AI is seen as key to saving time, increasing output, and avoiding burnout.

With creators earning over $2 billion through Kajabi in the past year alone, the report frames 2024 as a critical year for creators to diversify revenue sources, own their intellectual property, and build self-sustaining businesses rather than chasing deals and viral hits. Read the full report here.