Industry observer Evan Shapiro has a message for Media & Entertainment professionals: “It’s the Creator Economy — Don’t Be Stupid.”
Shapiro’s bold statement underscores a massive shift in the media landscape, where independent creators are increasingly eclipsing traditional gatekeepers. From podcasts and YouTube to TikTok and Patreon, creator-led content is redefining media production and consumption, generating substantial followings and revenue streams.
Goldman Sachs estimates the creator economy as a $250 billion industry, with projections to double soon. This surge is reshaping the media world, filling the void left by a shrinking corporate media complex. As big media consolidates, says Shapiro, creators are stepping in, capturing audiences and driving new revenue models.
“Increasingly, creators are generating audiences just as large, and far more engaged, as gatekeeper-led content,” he remarks.
Take Dax Shepard, for example. His $80 million exclusive deal with Wondery is just one of many high-profile successes in the creator economy Shapiro points to. Starting his Armchair Expert podcast on a whim following a movie flop, Shepard’s journey from Hollywood actor to podcasting powerhouse epitomizes this new era.
Joe Rogan’s rise is another testament to the power of independent creation. Earning $30 million per year from his indie podcast long before Spotify acquired it, Rogan demonstrates that creators can command massive audiences and revenues without traditional media backing.
Shapiro emphasizes that the creator economy is much larger than influencer marketing. Creators generate income from various streams, including advertising, merchandise, live shows, and fan-based subscriptions on platforms like Patreon. Substack, too, has seen tremendous growth, now boasting more than three million paying subscribers, with top writers earning millions annually.
“To understand the sheer scale of this emerging sector… you must realize that influencer marketing is not the totality of the Community Economy (as I call it). Crucially, not all influencers are creators and not all creators are influencers.”
A look at the top-earning personalities on social media, he says, demonstrates that some of the biggest influencers — artists, musicians, athletes and Hollywood stars, among others — are also some of media’s biggest creators. Yet none of these people are exclusively influencers, he notes. “They all have, or have subsequently created, day gigs. Conversely, once they break out, the most successful influencers typically expand their enterprises well beyond social media.”
Alongside the creator economy’s rise is the increasing professionalization and establishment of creator-led production companies. Entities like MrBeast’s production house, Smartless Media, and Rhett and Link‘s Mythical Entertainment are hiring mainstream media professionals, further blurring the lines between traditional media and independent creation.
The essence of the creator economy lies in its community-driven model. Fans directly support their favorite creators through subscriptions and purchases, fostering a more personal and engaged audience relationship. Platforms like TikTok are incentivizing creators to produce high-quality, long-form content, pushing the boundaries of traditional influencer roles.
Shapiro believes that the creator economy is still in its infancy, with enormous potential for growth. As more artists and artisans join this movement, they are expanding the creator model beyond brand deals to include fan-based subscriptions and direct product sales.
His message is clear: The creator economy is here to stay, and traditional media companies must adapt or risk being left behind. As the media landscape evolves, the creator economy will play a dominant role, driven by innovation, community engagement, and diverse revenue streams. Embracing this shift is now a necessity for survival in the modern media world.
