LLYC Study Reveals What U.S. Businesses Should Know About The Evolving Creator Economy
Global communications consulting firm LLYC presents "Monetizing Creativity: How creators make an impact in the digital world," a new study into the rise of creators in the digital world, focusing on the opportunities that the Creator Economy can offer companies operating in the United States, as well as in Brazil, Mexico, and Spain. It shares how the creator economy has become a significant monetary force and presents some of the main ways businesses can best leverage it.
Key findings in the United States include:
- A rise in niche content creation. U.S. content creators are increasingly finding success by focusing on smaller, niche audiences, marking a significant shift away from the era of mass appeal.
- Gen Z is a driving force behind this rise. Gen Z's choice of social media platforms has driven the democratization of content creation, allowing anyone to become a content creator.
- Lower trust in mainstream social platforms. More and more people are moving away from popular social media and gravitating toward niche networks to connect with specific communities of like-minded people. For example, the percentage of people using Facebook dropped from 27.5% in 2021 to 18.3% in 2022. (Ahmed, 2022)
- Algorithms now reward niche content. Most algorithms are designed to prioritize the content most likely to have high user engagement, and niche content tends to have more engagement than mainstream content.
- Niche content driving a fast-growing new economy. According to Goldman Sachs, the demand for more authentic content means the creator economy is projected to reach $480 trillion by 2027.
Partnering with influencers has long helped brands humanize their messages and stand out in the digital landscape, and this is the next step. Companies can now work with niche content creators to connect with their audiences authentically, allowing them to reach new communities with creative narratives they may not have been able to use before.
About LLYC
LLYC (BME: LLYC) is a global communication, digital marketing, and public affairs consulting firm that assists its clients in making strategic decisions proactively, always offering the appropriate creativity and experience. It also minimizes risks and takes advantage of opportunities provided, always considering the reputational impact. In a disruptive and uncertain environment, LLYC helps its clients achieve their short-term business targets while setting a course guided by a long-term vision of defending their social licenses to operate and improve their reputations.
LLYC is listed on the Spanish secondary stock market, BME Growth. The firm currently has 20 offices in Argentina, Brazil (São Paulo and Rio de Janeiro), Colombia, Chile, Ecuador, Spain (Madrid and Barcelona), the United States (Miami, New York, and Washington, DC), Mexico, Panama, Peru, Portugal, and the Dominican Republic. LLYC also provides services through affiliated companies throughout Latin American markets.
Two leading industry publications rank LLYC among the world's top communications companies. It is ranked 36th by revenue worldwide according to PRWeek's Global Agency Business Report 2022 and 42nd in PRovoke's Global Ranking 2022. LLYC was named the Top Communications Consultant in Europe at the 2022 PRWeek Global Awards and Communications Consultant of the Year in Latin America at the 2021 International Business Awards.
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