Posted 4 years ago
Posted 4 years ago
Part of a Storybook
Discussing the latest business phenomenons!
Strengths
I think the major strength of creator economy would be, the opportunity it gave to individual creators, who are now not dependent on anybody to release their content and the best part is more and more such creators are coming forward and there's just no stoppage to it. With such a process, firstly the common man has abundance of information to learn. To put it in picture, let's consider finance as a sector, with more and more people talking about finance, people are now investing like crazy (shows the growth of zerodha and grow)
Secondly, there's very less chance of misinformation and any manipulation because now the big media players are not controlling the market.
The strength of creator economy also lies on the fact that it has given birth to a different mindset among people from the typical. To explain this, let's consider India, where there's a huge surge in terms of the number of creators and not just as a side hustle, people are doing it full time. This shows that the Indian people have moved away from the typical mindset of becoming an engineer or a doctor. Such a huge impact on the society, none of the bollywood stars could have pulled it off, but it's the power of creator economy.
New platforms are coming every quarter. Giving plenty of chances to these individual creators to make a living for themselves by doing something they love. For example, Socife allowed the writing bug in me to grow.
Weakness
With more and more people joining the creator' revolution, becoming independent, opting for an unorthodox career, how this can be bad in anyway? or what weakness can this have? People have plethora of content to learn and refine their skills, it's actually great for the general public as well, then why are we even discussing weakness? Well, because I personally have spotted one major weakness in the creator era but it's completely subjective and I would like to hear from others in comments, if they have a difference in opinion.
So, to begin with the weakness let me just say that history is actually repeating itself. We as public are again in the process of creating stars and this time these stars are content creators but only video creators. People are too much focused on creating tik toks, short vids, reels and in all this limelight of video platforms like Instagram, YouTube, people are actually forgetting the written content creators and still image artists. It's actually not only the people, who are to blame, I would say it's the entrepreneurs or business people. Why? Because nobody really thought of a platform specifically for writers or photographers. Insta was good for photographers untill reels came in. Ofcourse, we do have medium and yourstory and other blog writing websites, but is that social media at all or just an article on the internet?
I genuinely would like to thanks and recommend Socife to every budding writer and photographer out there, I think an interactive social platform where one can actually engage in meaningful conversations and earn money as well for their content without the use of any third party is actually deserving of great applause!
Opportunities
I think the greatest opportunity for entrepreneurs currently in creator economy's era would be to close the gap and remove the weakest part and give the written and still image creators their due credit.
Also, it's a great way to completely end the dominance of certain people in the media and influencing industry and we need to support this in order to drive away from the ⭐ culture.
Lastly, the brands now have the option to let their message reach the depths of every population just by targeting the right influencer. A very good example of one such brand doing it would be 'Mama Earth', and the impact, well their sales have skyrocketed.
Threats
Majorly I believe creator' economy has no such threats and the culture would grow for another 5 years atleast, but imagine what can happen if the brands start manipulating these influencers who till now were commoners and were talking things that would affect them and us equally and because of the connection we believed them. If this connection is manipulated by some brands, just imagine the impact it would have. Hence, we need move away from the star culture.
History has shown us that many major phenomenons that have taken place in the past have a self destructive tendency, a great example would be the 'dot com bubble' and in this era of creator's we have already seen a major fight between influencers from various platforms, example would YouTube vs TikTok controversy. That anger from the tiktokers and the youtubers went on to create too much hatred for the former. But I, personally believe this recklessness might lead to the downfall of this phenomenon.
This entire analysis is subjective and I welcome any difference of opinion. As the early adopters, let's start creating a healthy environment on Socife by engaging ourselves in meaningful conversations. Please comment down your thoughts and opinions!
Read my other articles too, I know for sure you will find them insightful.
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