The big bang emergence of collaboration apps for creators to like, share & subscribe

economictimes.indiatimes.com:

If you can trust them with your money, it shows how connected society has become with them. With millions of digital creators scattered worldwide, the reach of their influence is undeniable.

However, not all creators find success, nor do they amass a significant following. Many struggle to monetize their content, and legal complexities surrounding brand endorsements can leave them perplexed.

Conversely, companies face dilemmas when selecting influencers, with the prevalence of «fake» influencers who exaggerate their reach and impact.The expanding creator economy The creator economy is on a rapid rise, with the total addressable market projected to double from $250 billion to a staggering $480 billion by 2027, according to Goldman Sachs research. In India, the social media content creator base is set to exceed 100 million this year, outpacing other countries.

A report by influencer marketing firm Zefmo predicts that the «organized influencer marketing» sector in India will reach Rs 3,000 crore by 2024, with micro influencers' revenue share expected to rise from 9% to 14%.How much are the influencers earning? According to a report by Kalaari Capital, an early-stage, technology-focused venture capital firm, India has witnessed a surge in short-form video consumption and a flourishing creator economy. With over 8 crore creators and knowledge professionals in the country, it is surprising to note that only 1.5 lakh professional content creators have been able to effectively monetize their services.

The majority of these 1.5 lakh professionals earn between $200 to $2,500 (more than Rs 16,000-Rs 200,000 per month), depending on their reach and engagement on various platforms. However, the top 1% of creators, those with over