by The creator economy refers to independent professionals and entrepreneurs who monetize their talents, skills, and passion directly to consumers via various digital platforms. Creators provide a range of online services including photography, design work, coding, online courses, social media influencing, blogging, and much more. In Asia and Oceania, demand for unconventional career paths beyond the traditional 9-5 corporate jobs has been rising. In particular, younger generations are seeking careers that allow them to utilize their creativity and be their own bosses. The flexible creator lifestyle has become increasingly appealing as remote and flexible work becomes normalized. Major digital platforms are also heavily investing in this region to attract more creators. For instance, YouTube has promoted its initiatives to support creators in countries such as India, Indonesia, and Australia.
The global Asia and Oceana Creator Economy Market is estimated to be valued at US$ 135.2 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Rising demand for unconventional career paths and the growing flexibility of digital work are expected to drive further growth of the Asia and Oceana creator economy market over the forecast period. Younger generations in the region increasingly want careers that allow them to freely utilize their creativity and talents rather than conforming to rigid corporate structures. The creator lifestyle offers independence and flexibility to pursue passions without commitment to a single employer. At the same time, remote and distributed work has become widely accepted, allowing creators to build audiences and businesses without geographic restrictions. Major technology platforms continue expanding initiatives and features to better support creators in monetizing their work, which will attract even more talent to this new economy. Overall, flexible and creative careers offered through digital platforms address demands from the region’s workforce, establishing a solid foundation for ongoing expansion.
Segment Analysis
The Asia and Oceana creator economy market can be segmented into independent creators and agency creators. The independent creators segment dominated the market in 2022 with over 60% share. This is because a majority of content creators in Asia and Oceana region like to build their own brands and follow independent career path. In addition, independent platforms have made it very convenient for individual creators to build audience and monetize content without relying on agencies.
PEST Analysis
Political: Most countries in Asia and Oceana have favorable regulations to support creator economy growth. However, censorship policies in some nations could impact certain types of content.
Economic: Strong GDP growth projected across multiple nations in the region will propel spending on digital content and services. High youth population provides demography conducive for creator culture.
Social: Social media and video sharing have become integral to online lives of people in the region. Digital creators are able to engage fans and communities based on topics ofinterest like entertainment, education, DIY etc.
Technological: High digital and smartphone penetration combined with affordable mobile data have enabled widespread consumption of online content in the region. Livestreaming and short video apps have surged in popularity giving new opportunities to creators.
Key Takeaways
The Global Asia And Oceana Creator Economy Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising digital consumption and engagement with online content across the region. The global Asia and Oceana Creator Economy Market is estimated to be valued at US$ 135.2 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030.
Regional analysis :
China accounts for over 35% share of the Asia and Oceana creator economy market in 2023. This is because of the huge population size, growing affluence as well as popularity of entertainment and social commerce platforms that enable direct monetization of creator generated content through features like livestreaming and e-commerce integration. India and Indonesia are also emerging as fast growing markets for creators in the region.
Key players operating in the Asia and Oceana creator economy market are Bilibili, ByteDance, Kuaishou, Tencent.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
