News

Global Influencer & Creator Economy To Double Over Next 5 Years

According to Goldman Sachs, brand deals, platform payouts, and video advertising are expected to drive growth.

Published

1 year ago

April 25, 2023

global influencer and creator economy to double over next 5 years

According to Goldman Sachs, the influencer and creator economy market could double over the next five years, driven by a significant increase in digital media consumption and the rise of new technology.

With over 50 million individual creators, the total value of this market segment could rise to $480 billion by 2027, up from a current total of $250 billion.

influencer marketing forecast

“New platforms such as TikTok have emerged, while legacy platforms like Facebook and YouTube have also introduced new formats for sharing short-form video, live streaming channels and other forms of user-generated content,” says Eric Sheridan, Senior Equity Research Analyst, Goldman Sachs.

income sources for digital creators

Goldman Sachs expects influencer marketing, payouts from social platforms, and short-form video advertising to boost the growth of the creator economy, with the number of global content creators estimated to rise by 10-20% annually over the next five years.

Also Read: How To Permanently Delete Your Instagram Account

Social media creators and influencers earn a living by making endorsement deals with brands, through advertising revenue, and direct donations and subscriptions from followers. The Goldman Sachs report revealed that brand deals are now the primary source of creator revenue at about 70%, followed by ad sharing.

Digital platforms offering multiple ways to monetize creator content will continue attracting influential creators as competition intensifies due to economic uncertainty and rising interest rates, putting significant strains on funding and investment.

News

Joby To Establish All-Electric Air Taxi Ecosystem Across The UAE

The comprehensive agreement with Abu Dhabi’s government includes a training program, infrastructure development, and a manufacturing presence.

Published

4 days ago

May 1, 2024

Nour Nasir

joby to establish all-electric air taxi ecosystem across the uae

Joby Aviation

All-electric aircraft company Joby Aviation has secured three separate agreements with departments of Abu Dhabi’s government that lay the groundwork to develop and scale air taxi services in the Emirate and beyond.

The deal was signed at the recent DRIFTx thought-leadership and exhibition platform and gave Joby exclusive rights to not only operate air taxi services in Dubai but also unlock inter-emirate services between Abu Dhabi.

joby air taxi partnership abu dhabi

Joe Ben Bevirt, founder and CEO of Joby Aviation, said: “Today’s agreement demonstrates the incredible momentum behind the adoption of clean flight across the UAE. We’re looking forward to delivering a fantastic experience for our future customers in Abu Dhabi and we’re excited to be unlocking the potential for zero-emissions flight between Abu Dhabi and Dubai. We’re grateful for the support and collaboration of our governmental partners and the entire ecosystem in Abu Dhabi and we remain deeply impressed by their commitment to building out a world-class aviation ecosystem in the Emirate”.

Joby’s all-electric aircraft went on display for the first time in Abu Dhabi’s Yas Marina at the DRIFTx event. The air taxi is designed to carry a pilot and four passengers and can reach speeds of 200 miles per hour (321 km/h). The zero-emission craft is said to have an extremely low acoustic footprint and can travel a maximum of 100 miles (161 km) on a single charge.

Also Read: Lebanese Newspaper Builds AI President To Beat Political Crisis

Once operational, Joby’s air taxi fleet would enable fast, clean travel across the UAE, with journeys between Abu Dhabi to Dubai taking just 30 minutes compared with two hours by car during peak times.

Joby continues to work closely with the UAE’s General Civil Aviation Authority (GCAA) to help the Emirates become a world leader in the introduction of air taxis. Additional testing and analysis will be required before inter-emirate travel becomes a reality, but the cutting-edge technology already appears to have great potential.