How big is the Passion Economy exactly? According to this fascinating study of internet creators across 9 digital platforms (including Etsy, Twitch, and YT), 17M Americans earned nearly $7Bn in income from their independent creations in 2017.https://www.recreatecoalition.org/media-center/economic-research/ …
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"This new creative ecosystem arises directly from the extraordinary power of the internet. Creators no longer have to convince brick-and-mortar outlets to market and distribute their work. Instead, those creators can now display and market their work on an internet platform"
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For more recent writing on quantifying the passion economy -- in particular, the key metrics startups should track -- see my recent blog
https://a16z.com/2020/01/08/key-metrics-for-the-passion-economy/ …Prikaži ovu nit
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Not to be hater, because I want to believe in the potential of the passion economy, but that breaks down to $400 in income for each of the 17 million on average. Would think it’s skewed to a few big winners and gets pretty bleak from there.
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But that number includes everyone making income from those platforms. For lots of users, they aren't looking at it as a full-time job -- it's supplemental income
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How would you go about sizing this market in 5-10 years from now? SOTP of different platforms? Doing a top down approach by # of creators that distribute their work?
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The way I think about market size potential is: how many people in the world have built some sort of online following, and how many of those would be good contenders for monetizing that following?
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The market size is definitely much bigger! These reports don’t take into account the $ and opportunities that other creators such as photographers, MUA, models, musicians & such are able to produce Once all these people are on a platform, the passion economy will be much bigger.
Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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Perhaps one way to look at the TAM for this market is to simply ask- Of every 100 people on earth, what proportion typically become expert enough in a single skill/ passion that they could derive a paying following wanting access to that skill/ passion? 1%?
Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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