Social media creators turn to subscription apps due to increasingly competitive, volatile content economy
Many content creators are increasingly looking to monthly subscription platforms like Substack and Patreon for consistency in their monthly income.
Social media creators are turning to monthly subscription services to generate revenue directly from their followers in an attempt to find a stable source of income in an increasingly competitive and volatile market.
#socialmedia #subscriptions #contentcreators #substack #patreon
I heard that many are leaving Patreon because they are changing their payment levels and the options to adjust them.
It wouldnt surprise me. That is what happens when you have a company behind a platform instead of a cooperative.
Yeah and when you remove flexibilty for the creator to charge the rates they want. Just heard this from a åodcast I listen to who will delete their patreon because they previously could charge $1 per episode, but not any more.
I am not surprised, YouTube very example is so competitive it's damn difficult to rise and get noticed. And even big channels don't get consistent income, I see how subscriptions can help em
The creator economy peaked in September 2021, according to research published this month by the Bank of America Institute. While the average monthly income for content creators has increased over the past three years, a typical, full-time U.S. employee makes five times as much in monthly income on average.
"This suggests that it's rare to earn a full-time wage in content creation — let alone get rich," said the research, which was also conducted by the Bank of America Institute, a think tank that conducts its research using Bank of America customer data.