Creator Economy Changes Social Media Purpose
Livestreaming as a part of the so-called “creator economy” paradigm quickly spread across social networks, changing their inner philosophy. From consumers, social media users quickly transform into creators. By the middle of 2021, people have downloaded over 9.2 billion apps and spent over 740 billion hours browsing them. Meanwhile, 548 billion hours from 740 belong to live streaming on Twitch, TikTok, and Instagram. The data was recently published on data tracker App Annie.
According to the numbers revealed in the document called “The Evolution of Social Media Report,” the total amount of time for mobile apps usage will definitely surpass the 800 billion hours of usage in 2020 by the end of the year. Mobile usage has also increased, mainly due to the COVID-19. Average Americans began to spend more time in apps, being on lockdown during pandemics. And while the main restrictions were rolled back, users continue to spend hours in apps.
Twitch video streaming app was created mainly for gamers, allowing them to show their gameplay in real-time. It is a perfect platform for tournaments, and people from around the world can join it. Apart from video games, you may watch a wide range of concerts and poker tournaments. This year Twitch celebrates its 10 years anniversary. Every day this platform is visited by over 30 million users. Many of them create unique content within games, music, TV shows, and comedy. There is a real-time connection among users that increased significantly during the year.
According to the head of the production of Twitch community, Marcus Graham, this platform helped millions of new creators. He has stayed with Twitch since 2011. He noticed that during the previous years Twitch uncovered numerous talents. Many streamers that use Twitch to show their work took part in last week’s boycott of “hate raids”. Twitch assured its users that they are working hard to make the portal safer for anyone.
It is not the news that some apps pay creators for the original content. Indeed, Mark Zuckerberg, CEO of Facebook, recently announced that the company is willing to pay up to $1 billion to content creators on the platform in 2022. Until 2023 Facebook will not cut the revenue of creators. Original content is on-demand by all social networks.
Twitter announced its decision to help creators to make money as well. The company revealed two features that may be helpful to the artists. Super Follows offers users to charge fees for the valuable unique content they place. Tip Jar, another feature, allows Twitter’s users to send money for the projects of their favorite artists.
This year apps switch their focus from passive texting and chatting to streaming, sharing videos, and gaming. New possibilities attract more users to join the app. According to the report, consumers will probably spend up to $6.78 billion inside social apps in 2021. The number reveals the yearly plan for users around the world. In the first half of 2021, consumers from Japan and America have already spent $1.5 billion. Analysts believe that the new demand of the audience is highly important not only for the apps industry but for the whole social growth and changes we witness. According to these calculations, spending money inside the apps can go up to $17.2 billion every year by the end of 2025. This is a 29 percent increase.
Creators and Consumers
This year is a game-changing period for many app developers. The audience wants to become an active part of the app’s life. They consider social networks as the key platforms to express their creativity. This is how TikTok became the most downloaded app of the year, and Twitter rolled out new features for artists. If you feel like being a part of the creative community, you can express yourself with a livestream on your favorite platform.