The Influencer Marketing Factory has released a report titled “The Ultimate Creator Guide,” analyzing creator economy trends, such as user-generated content (UGC), creator monetization, and the growing impact of AI in content creation in 2024.

Among the key findings, the report shows that UGC outpaces influencer content in consumer trust. 

Up to 79% of consumers say UGC impacts purchasing decisions more than influencer posts, highlighting a growing preference for authentic, consumer-created content.

The study also finds that 84% of consumers find UGC “extremely helpful” when making purchasing decisions, suggesting that brands may need to recalibrate their marketing strategies to incorporate more UGC in their campaigns.

Monetization Challenges and Opportunities

Goldman Sachs estimates the creator economy to be a $250 billion market, with projections to double by 2027. The growth trajectory indicates increasing opportunities for content creators and influencers across various platforms.

Up to 26% of U.S. adults aged 18-60 identify as content creators, with over 64% open to brand promotions.

Despite the industry’s growth, only about 4% of global creators are deemed professionals, earning more than $100,000 annually.

The study reveals that creators earning fewer than six figures have an average of two revenue streams, while those making $150,000 yearly are likely to have seven or more. Diversifying income sources is crucial for financial success in the creator economy.

However, analysts stress that the 15.3% self-employment tax may be a potential financial burden for many creators, noting that 30.8% don’t set aside money for taxes.

AI’s Growing Role in Content Creation

The report includes a survey of 400 U.S.-based creators, exploring their use of AI tools in content production. Key findings include:

• 33.4% of creators use ChatGPT for content creation
• 19% utilize Google’s Gemini AI
• 17.6% incorporate Adobe Suite AI tools
• 15.7% of creators use AI to generate ideas
• 13.2% employ AI for content editing
• 11.2% use AI for topic research

Ethical considerations surrounding AI usage are also addressed, with 29.9% of creators reporting occasional ethical challenges when using AI tools.

Platform Performances

The report provides data on various social media platforms:

• LinkedIn: Experiences a 41% increase in posts and a 34% year-over-year increase in video uploads
• Snapchat: Reaches 90% of the 13- to 24-year-old population in over 25 countries, with 850 million monthly active users

Emerging Trends in Influencer Marketing

The report indicates that 33% of Gen Z adults in the U.S. made a purchase from an influencer-founded brand as of November 2023, indicating a growing trend of influencers transitioning into entrepreneurship and product development.

Additionally, the study reports that video ads drive a 48% higher sales rate than static ads.

The complete study is available here.