$21 billion.
That's how much brands will spend on creators this year.
And it's up $18 billion since 2016.
Yesterday, Forbes dropped the who's who of this growing economy in a Top 50 Creators list.
Here's what you need to know:
❶ 46% are women.
❷ 28% are people of color.
❸ The reigning #1 creator is MrBeast.
❹ Follower count does not correlate with earnings.
❺ They have a combined audience of 2.6 billion people.
❻ Combined they make an estimated $700 million in earnings.
❼ Every creator's notoriety was established or propelled on social media.
❽ "Influence" is a combination of estimated earnings, follower counts, engagement rates, and entrepreneurial activities
Creators are now a must for digital marketing.
Their followers have caused everything from website failures to city riots.
And brands are ready to pay big bucks to have 𝘵𝘩𝘦𝘮 influence 𝘺𝘰𝘶.
Now's the time to start thinking through your 2024 social strategies.
Or risk your brand getting left behind.
Nir
Posted on
Key takeaways of Forbes Top Creators
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Discussion (3)
It is very interesting seeing more brands attach themselves to these creators. There's a lot of potential, but, to me, the whole strategy is volatile. Every week influencers face potential backlash from their audience and even those who don't consume their content. I wonder if the strategy will last then with it being so risky for brands.
Risky for sure, but dropping a creator is worth the risk and usually has limited damage to the brand (if any over a meaningful period of time).
Also the question for brand becomes, if not Creators, what is as effective? Not much can beat the strong bond and trust a creator has with their audience.
I think marketing is volatile by nature. Sure you can play it safe and buy ad space on Google, Facebook, etc. but those are already becoming extremely competitive and likely don’t get marketing teams as excited as the potential that a creator with a deep following have.
Nothing makes me more of a believer in this space than seeing people like XQC get multi-million dollar deals by simply using a service or having it somewhere on stream. The amount of command that a creator like he has is on Super Bowl levels of eyeballs.