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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.

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2 years ago

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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.

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UAE Prepares To Launch Two Satellites: Thuraya-2 And MBZ-SAT

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum chaired the first meeting of the Supreme Space Council yesterday.

Published

5 days ago

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December 17, 2024

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uae prepares to launch two satellites thuraya-2 and mbz-sat

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister of the UAE, chaired the first meeting of the Supreme Space Council in Dubai on December 16, 2024. The session highlighted the UAE’s ambitious space plans and took stock of the sector’s economic progress.

The council emphasized the growing role of private companies in advancing space technologies, noting that their contributions are now equal to that of the public sector. Members also praised initiatives like the Space Economic Zones Programme, which are designed to fuel innovation and investment in the space industry.

Discussing the UAE’s space journey, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum remarked, “The national space sector continues to grow and advance, and we take immense pride in the remarkable achievements we have accomplished over the years”.

Sheikh Hamdan also received updates on two upcoming satellite projects: Thuraya-2 and MBZ-SAT. Thuraya-2, developed by Space42, is slated for launch this December. Meanwhile, the MBZ-SAT, created by the Mohammed Bin Rashid Space Centre (MBRSC), will soon follow. MBRSC, a major driver of the UAE National Space Programme, continues to lead the nation’s space-related developments.

Space42 took the opportunity to showcase its advancements, including ongoing collaborations between public and private entities. The company also outlined strategies to promote innovation, boost revenue streams, and create new opportunities for growth in the sector.

Also Read: IBM Opens New Doha Office To Support Qatar’s Digital Growth

The UAE’s current projects build on a growing legacy of space exploration. Back in 2020, the nation made headlines with its Mars mission, successfully sending a probe into the planet’s orbit in 2021. This mission, which is now in its second phase as of June 2024, has been collecting critical data to develop a comprehensive diurnal image of Mars.

The UAE also ventured into lunar exploration with an unmanned mission aimed at studying untouched regions of the Moon’s surface. While the probe ultimately crashed during its landing attempt after communication was lost seconds before touchdown, the effort represented a significant step in the country’s exploration ambitions.

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