by “Creator Economy in Europe” is estimated to be valued at US$ 10.35 billion in 2023 and is expected to exhibit a CAGR of 21.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Creator Economy in Europe refers to platforms and services that allow individuals to earn income from their creative works and skills. These platforms provide opportunities for content creators, artists, educators and influencers to monetize their talents. The emergence of digital platforms has empowered individuals to leverage social media presence and digital skills to earn a living.
Market key trends:
One of the major trends driving the growth of Creator Economy in Europe is the rise of social media influencers. As digital platforms like Instagram, YouTube, and TikTok have grown rapidly in the region, more people are pursuing careers as social media influencers in domains like fashion, lifestyle, gaming and more. Brands and companies are increasingly collaborating with influencers for marketing and advertising campaigns, allowing influencers to monetize large followings. The popularity of short-form video apps among Gen Z and millennials has also boosted opportunities for creators on platforms like Instagram Reels, YouTube Shorts and TikTok.
Segment Analysis
The Europe creator economy market is segmented into content type, platform type, revenue stream, end user,and geography. Based on content type, the market is segmented into music, arts & design, photography, videos, publishing, and others. Arts & design is currently the dominating segment due to the rise of crafts and DIY content creators.
Based on platform type, the market is divided into patron platforms, subscription platforms, ad-supported platforms, tipping & crowdfunding platforms, and others. Tipping & crowdfunding platforms currently dominate the segment as they offer creators easy monetization options and help them build strong connections with followers.
Based on revenue stream, the market is classified into subscriptions, tips & donations, sponsorships, advertising, and others. Subscriptions generate the highest revenues as it provide recurring income and creators directly charge their followers for access to exclusive content.
Key Takeaways
Europe Creator Economy Market Size is expected to reach US$ 10.35 billion by 2023, exhibiting a CAGR of 21.8% during the forecast period. The rise in internet and smartphone penetration, along with easy access to online platforms, is driving the growth of the creator economy in Europe.
Regionally, Western Europe dominates the market due to high mobile and internet adoption and a surge in independent content creators. Countries like the UK and Germany have the highest number of subscription-based and crowdfunded creators. Meanwhile, Central and Eastern Europe are exhibiting the fastest growth rates at over 25% annually.
Key players operating in the Europe creator economy are Patreon, OnlyFans, Teachable, Thinkific, Facebook, Twitter, Snapchat, Pinterest, LinkedIn, DeviantArt, Twitch, YouTube, TikTok, Instagram, Etsy, Spotify, Substack, Buy Me a Coffee, Ko-fi, and Gumroad. Platforms like Patreon and OnlyFans dominate the tips & donations segment by enabling creators to establish paid communities around exclusive content. Meanwhile, Facebook, YouTube and Instagram have the highest numbers of free creators monetizing through advertising and sponsorships.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
