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The Creator Economy is thriving. Many content creators are leveraging their niche audiences to earn money. With diverse revenue streams, creative control and flexible work hours, becoming a creator has never been more appealing. In the wake of rising ad costs, reduced budgets and the demand to “do more with less,” marketers are increasingly turning to creators to generate authentic promotional material. 

Here’s what brands and creators should know about the Creator Economy in 2024:

Growth of the Creator Economy 

In 2024, the influencer marketing market is estimated to reach $24 billion, which has tripled since 2019.

Source: Statista

In 2025, an estimated 86% of companies with more than 100 employees are expected to use influencer marketing to promote products or services. 

Source: Statista

The number of jobs for self-employed creators working in art, design, entertainment, and media is expected to grow by 46,600 positions by 2026.

Source: Bureau of Labor Statistics

During a global 2024 survey among marketing agencies and brands, 22.4% of respondents stated they invested 10 to 20% of their marketing budget into influencer marketing. Another 26% devoted more than 40%.

Source: Statista

2022 marked the first year markers spent more on influencer marketing than on social ads, and the trend has held true through 2024; it is expected to continue. 

Source: eMarketer

Why this matters to creators and brands: The stats strongly suggest that brands use influencer marketing. Brand collaborations can help companies deal with rising ad costs and provide a more authentic way to reach consumers. 

For creators, the stats show just how much opportunity there is in the field. With attention to detail, creators can connect with brands and earn income as subject matter experts on social media. 

The impact of the creator economy on brands

More than half (52%) of all consumers have purchased a product because of an influencer’s recommendation. 

Source: 2024 Trust in Influencer Marketing

42.7% of women are more likely to try a product after an influencer recommendation, trumping all types of ads including TV and social ads. 

Source: 2024 Trust in Influencer Marketing

62.4% of consumers are more likely to trust influencers over A-list celebrities.

Source: 2024 Trust in Influencer Marketing

What factors build trust between a customer and an influencer? The chart below shows that 41% of customers believe the authenticity of influencers’ content builds trust, while another 41% say product demonstrations earn trust.

Source: 2024 IZEA Influencer and Discount Clubs  

37.6% of brands work with 1-10 influencers and 19% work with 10-50 influencers. 

Source: Statista

Why this matters to creators and brands: Creators take the time to build an engaged, niche audience. In time, followers grow to trust the influencer, and that trust becomes synonymous with brands that influencers work with. As a result, many brands work with a small team of influencers to maintain customer relationships and generate a steady flow of influence-created, sales-boosting content. 

Size of the creator economy and their audiences

Estimates show 200 million creators generate and share content with the intent to monetize it. 

Source: Linktree

What’s the average audience size for creators? Research shows 140 million creators have an audience size between 1K-10K, while 41 million have 10K-100K followers. 

Source: Linktree

Which type of content compels customers to shop? The chart below shows video trumps all other content no matter the customer’s age. 41% percent of 18-to-29-year-olds, 36% of 30-to-44-year-olds, and 30% of 45-to-60-year-olds say video is their top motivator.

Source: IZEA Influencer & Discount Clubs 

What’s the most popular product purchased after seeing it endorsed by an influencer? The most popular product is clothing, but electronics and cosmetics round out the top three, as shown in the graph below. 

Source: IZEA Influencer & Discount Clubs 2024 

Why this matters to creators and brands: These statistics offer a snapshot of the current Creator Economy. For brands, it’s good to know you have many, many creators to choose from with strong audience sizes. For creators, it’s important to know you have competition out there, so generating high-quality, engaging content is important. 

Creator monetization statistics

Research shows that sponsored content is the main revenue source for creators, with affiliate marketing and advertising revenue rounding out the top three. 

Source: eMarketer 

66% of influencers consider themselves “part-time” influencers.

Source: Linktree

The average cost per piece of content by platform varies, with the most affordable option being a Facebook post, which influencers charge $642 for. Meanwhile, the most expensive type of influencer-created content is for Twitch, which costs $4,737 per piece. Specific breakdowns of cost by platform are found below.

Source: The 2023 State of Influencer Earnings

12% of full-time creators make over $50,000.

Source: Linktree

How much time do creators spend generating content? Research shows 36% spend between 1-5 hours, and another 27% spend 5-10 hours.

Source: Linktree

Why this matters to creators and brands: Brands and creators need to understand how much time influencers invest in content creation, along with average rates. For the creator economy to thrive, adequate compensation is imperative. 

Platform-specific statistics 

In 2024, Instagram was the platform of choice for brands, investing $2.2 million into Instagram influencer campaigns, with TikTok and YouTube following in second and third place.

Source: eMarketer

One survey shows 72% of marketers prefer Instagram for creator collabs, with a third of marketers saying the channel offers the best ROI. 

Source: Hubspot

When 18-to-29-year-old consumers were asked which platform is best for influencers to use for product promotion in 2022, 31% said TikTok; an increase of 63% from 2021.

Source: 2024 Trust in Influencer Marketing

58% of marketers say they use YouTube in influencer collaborations with 20% saying they get the best returns from this channel.

Source: HubSpot

While you might not hear about influencer marketing on Facebook that much, 57% of brands use the channel for influencer marketing, with 18% saying it’s the easiest platform to use for this type of marketing.

Source: HubSpot

Why this matters to creators and brands: Brands and influencers often wonder which platforms to use. With so many to choose from, it’s almost impossible to maintain a strong presence on all of them. Brands and influencers can use these stats as a guide, but of course, you should monitor metrics to find the best fit.  

This roundup of creator economy statistics can help both influencers and brands understand how to connect with each other, negotiate fair rates, and weigh ideas for future campaigns. Consider sharing these stats with your team and discussing how your brand can tap into the creator economy. 

Influencers:

Looking to partner with industry-leading brands? Create your free profile today. 

Marketers:

The world’s biggest brands trust IZEA’s influencer marketing software and full-service solutions. Find out which solution is right for you.

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influencer marketing software Managed Services

 IZEA MANAGED SERVICES 

Strategy and execution from the company that launched the industry.

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Managed Services offerings

influencer marketing software Managed Services

 IZEA MANAGED SERVICES 

Strategy and execution from the company that launched the industry.

Request a proposal

Learn more about our Managed Services offerings

 IZEA MANAGED SERVICES 

Strategy and execution from the company that launched the industry.

Request a proposal

Learn more about our Managed Services offerings