Connect with us

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

on

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.

Advertisement

📢 Get Exclusive Monthly Articles, Updates & Tech Tips Right In Your Inbox!

JOIN 17K+ SUBSCRIBERS

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Initial Trials Of Dubai’s Driverless Evocargo Trucks Completed

Testing was announced on July 17, and the completion is a major milestone towards upgrading the region’s logistics infrastructure.

Published

on

initial trials of dubai's driverless evocargo trucks completed
Dubai Media Office

A Dubai-based company has completed the initial trials for the UAE’s first driverless trucks. The groundbreaking achievement by Evocargo, partnering with Dubai South, took place at Dubai South Logistics District, and marked a significant step towards incorporating autonomous technologies into the region’s wider logistics infrastructure.

Announced on Wednesday, July 17th, the trials featured the Evocargo N1 unmanned electric truck navigating a predetermined route within a controlled setting. The test involved interactions with common road obstacles such as cars, trucks, and pedestrians, aiming to evaluate the vehicle’s hardware and software reliability, accident prevention systems, and overall readiness for public road use.

Officials were keen to highlight that this accomplishment aligns with the UAE’s ambitious strategy to position itself as a global leader in innovation and technology adoption. The country aims to have 25% of all transportation in Dubai autonomous by 2030, underscoring its commitment to revolutionizing the logistics sector using advanced technologies.

Mohsen Ahmad, CEO of the Logistics District at Dubai South, emphasized the importance of the collaboration with Evocargo in enhancing the region’s logistics capabilities. He noted that autonomous vehicles are set to increase efficiency, reduce carbon emissions, and establish a sustainable logistics infrastructure that will benefit both Dubai and the wider UAE.

Also Read: Riyadh Developers Reveal New 45,000-Seat Murabba Stadium

Ahmed Al-Ansi, CEO of Evocargo Autonomous Logistic Services, also expressed optimism that the trials will draw new customers and investments across the Gulf Cooperation Council (GCC) countries. The partnership aims to lead in innovative tech solutions, further establishing the UAE as a pioneer in autonomous transportation.

The successful completion of the trials marks a crucial step towards realizing the UAE’s vision for a technologically advanced and sustainable future in which autonomous vehicles are expected to play a pivotal role in global logistics.

Continue Reading

#Trending