Asia and Oceana Creator Economy Market : Latest Developments, Innovations, Industry Analysis and Future Outlook

UNITED STATES, November 29, 2023 /EINPresswire.com/ --
The Asia and Oceania creator economy refers to economic activity created by individuals who monetize their talents and passions, such as producing digital content like visual art, designs, videos, books, podcasts and music. It allows creators to earn income directly from their fans through platforms.

Market Dynamics:

The Asia and Oceana creator economy is estimated to witness high growth during the forecast period owing to rising adoption of self-employment and growing digitization across industries. According to a survey, around 41% of Asia's workforce was engaged in independent work in 2020, higher than the global average of 35%, indicating rising self-employment. Furthermore, increasing availability of online creator platforms in the region is supporting creators to build their professional networks and monetize original content. Social media platform users in Asia and Oceania reached over 2 billion in 2021, offering a huge potential consumer base for creators. Rapid adoption of smartphones and affordable data plans are further strengthening connectivity.

The Asia and Oceana Creator Economy market size was valued at US$ 135.20 billion in 2023 and is expected to reach US$ 848.36 billion by 2030, grow at a compound annual growth rate (CAGR) of 30% from 2023 to 2030

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Digital Asia and Oceania Creator Economy Market - Key Drivers, Restrains, Opportunities and Trends

The Rapid Growth of Social Media Platforms as a New Means to Monetize Creative Content

Over the past decade, Asia and Oceania have seen massive growth in internet and smartphone penetration. This has enabled the rise of various social media platforms that allow creators to directly interact with audiences and monetize their work. Platforms like YouTube, Facebook, Instagram and TikTok have become major outlets for creators to build followings and generate revenue through advertising, sponsorships, live streaming and online courses/products. The interactive and viral nature of these platforms also means more creators are able to build global audiences at almost no cost. This new direct-to-fan model has empowered many budding creators to pursue content creation as a full-time career.

Top Key Players:

ByteDance (TikTok, Douyin), Kuaishou, Bilibili, Tencent (WeChat, Tencent Video), Alibaba (Taobao, Weibo), Meta (Facebook,Instagram), YouTube, Twitch, OnlyFans, Patreon, Substack, Kickstarter, Indiegogo, Disco, Cameo

Regional Analysis:

⁃ North America: United States, Canada, and Mexico

⁃ South & Central America: Argentina, Chile, Brazil and Others

⁃ Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.

⁃ Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.

⁃ Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.

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The Emergence of Creator Marketplaces and Platforms Catering Solely to Creators

Alongside the growth of social media, we have seen the launch of various dedicated online marketplaces and platforms focused solely on helping creators build businesses. Examples include graphic stock sites like Envato Elements that allow creators to sell digital assets, publishing platforms like Substack helping writers/journalists monetize content through subscriptions, and video marketplaces like Clipdealer where creators can license video footage. Some platforms like Patreon and Buy Me a Coffee have also emerged as popular platforms for ongoing creator incomes through monthly subscriptions or one-time donations. These specialized platforms provide additional monetization avenues beyond social media and help address the financial needs of creators.

Economic Pressures Challenging Traditional Careers and Driving Interest in Self-Employment

Many major Asian and Oceanian economies like Singapore, Australia and parts of South East Asia are experiencing slower GDP growth, rising costs of living and rising graduate unemployment rates in recent years. This has put economic pressure on young professionals and graduates, driving more to explore self-employment and non-traditional careers like content creation. The relatively low costs barrier to try content creation online also makes this an attractive proposition for those interested in flexible, location-independent work without the constraints of traditional employment. This provides a steady source of new creators exploring the market opportunities.

Over-dependence on a Few Large Social Media Platforms and the Risk of Algorithm or Policy Changes

While platforms like YouTube, Facebook and Instagram have enabled the rise of creators in Asia and Oceania, most creators remain highly reliant on just one or two major platforms for generating the bulk of their incomes and audiences. However, algorithm changes or new platform policies by these large companies can significantly impact creators through reduced visibility, discoverability or monetization potential overnight. Recent demonetization waves or policy tightening on YouTube are examples of how disruptive such changes can be for creators. Over-dependence on a small number of dominant platforms leaves creators vulnerable if any major platform makes disruptive changes. Diversifying revenue streams across multiple platforms helps address this risk.

The Mainstreaming of Content Creation as a Legitimate Career Path Drives Normalization

Over the past decade, as more and more individuals have been able to build sizable followings and incomes solely through online content creation, it has become increasingly accepted as a mainstream career option. Successful YouTubers, Instagram personalities, podcasters and streamers have emerged as celebrities and role models. Their examples of turning a passion into a business have inspired more people across Asia and Oceania to give content creation a try. Traditional notions of formal education or desk jobs no longer seem like the only paths to success. This normalization of content creation as a viable self-employment option continues to sustain audience and creator growth into the future in the region.

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Key Questions Addressed in the Market Report:

What is the expected size, share, and CAGR of the Asia and Oceana Creator Economy Market over the forecast period?
What are the key trends expected to influence the Asia and Oceana Creator Economy Market between 2023 and 2030?
What is the expected demand for various types of products/services in the Asia and Oceana Creator Economy Market?
What long-term impact will strategic advancements have on the Asia and Oceana Creator Economy Market?
Who are the key players and stakeholders in the Asia and Oceana Creator Economy Market?
What are the different segments and sub-segments considered in the Asia and Oceana Creator Economy Market research study?

Strategic Points Covered in Table of Content of Global Asia and Oceana Creator Economy Market:

Chapter 1 : Introduction, market driving forces, and product The study and research objectives are to investigate the Asia and Oceana Creator Economy market.

Chapter 2: Exclusive Summary - Asia and Oceana Creator Economy Market Fundamentals.

Chapter 3: The Changing Impact on Market Dynamics- Drivers, Trends, and the Challenges and Opportunities of Process Spectroscopy

Chapter 4: Asia and Oceana Creator Economy Market Factor Analysis, Porter's Five Forces Analysis, Supply/Value Chain, SWOT Analysis, Market Entropy, and Patent/Trademark Analysis are all presented .

Chapter 5: 2017-2022 Forecast by Type, End User, and Region/Country

Chapter 6: Evaluating the key players in the Asia and Oceana Creator Economy market, including the Competitive Landscape, Peer Group Analysis, BCG Matrix, and Company Profile.

Chapter 7: To evaluate the market by segments, countries, and manufacturers/companies, as well as revenue share and sales by major countries in these regions (2023-2030).

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