July 24, 2024
Asia and Oceana Creator Economy Market
Ict

Asia And Oceana Creator Economy Market Demand, Size And Share

The Asia and Oceana Creator Economy Market is estimated to be valued at US$ 135.20 Bn in 2023 and is expected to exhibit a CAGR of 30. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

The Asia and Oceana Creator Economy Market is witnessing high growth owing to Rising Popularity of Video and Live Streaming.

Market Overview:

The Asia and Oceana creator economy market involves content creators monetizing their work through various platforms and direct business models. Content creators produce a variety of digital media such as videos, music, blogs, podcasts, graphics and earn income from it. The creator economy platforms offer subscription services, micropayments, sponsorships, tipping as monetization options for content creators.

Market key trends:

Rising Popularity of Video and Live Streaming – Over the past few years, live streaming has emerged as one of the most popular forms of entertainment across Asia and Oceania region. Many content creators have become influencers and built strong fan followings by live streaming themselves undertaking activities like gaming, talent shows, cooking and lifestyle. The number of live stream viewers has been increasing exponentially, driving the need for more creators. Major platforms such as TikTok, YouTube, Twitch and Kuaishou have seen explosive growth in their live streaming viewership. This rising engagement with live streaming content is a major driver of growth in the creator economy market in the region.

Porter’s Analysis
Threat of new entrants: The Asia And Oceana Creator Economy Market Demand has moderate threat of new entrants due to high costs involved in entering this market. However, presence of many platforms makes entry easier.
Bargaining power of buyers: Creators have moderate power due to availability of multiple platforms to choose from. However, top platforms with large user base have stronger bargaining power.
Bargaining power of suppliers: Large platforms have strong bargaining power over individual creators due to their financial clout and widespread popularity. Smaller platforms have less power.
Threat of new substitutes: Constant innovation has led to emergence of new platforms, applications that put pressure on existing players.
Competitive rivalry: Intense as top players spend heavily on content and influencers to gain more users.

SWOT Analysis
Strength: Strong network effects on leading platforms like TikTok, YouTube and presence across regions.
Weakness: Dependency on few dominant tech giants and macroeconomic slowdowns impacting digital ads revenue.
Opportunity: Growing internet and smartphone penetration in emerging Asia economies is expanding the creator base and audience.
Threats: Stricter data privacy regulations and greater competition from Western players expanding in the region.

Key Takeaways
The global Asia and Oceania Creator Economy Market is expected to witness high growth, exhibiting CAGR of 30% over the forecast period, due to increasing internet and smartphone penetration in emerging economies of Asia. By 2030, the market size is projected to reach over US$ 1 trillion.

Regional analysis – The China creator market currently leads and is anticipated to continue dominating through 2030, attributed to presence of domestic tech giants and over 900 million internet users in the country. Southeast Asian nations like Indonesia, Vietnam and Philippines are fastest growing creator markets in the region backed by burgeoning young population and rising mobile internet adoption.

Key players operating in the Asia and Oceania Creator Economy market are ByteDance (TikTok, Douyin), Kuaishou, Bilibili, Tencent (WeChat, Tencent Video), Alibaba (Taobao, Weibo), Meta (Facebook,Instagram), YouTube, Twitch, OnlyFans, Patreon, Substack, Kickstarter, Indiegogo, Disco, Cameo. Top players are investing heavily in courting influential creators to drive engagement on their platforms.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it