New Content Creator Survey from Lightricks Highlights Rapid Changes in the Creator Economy

The creator economy is rapidly evolving, and it’s important for brand marketers to stay on top of the latest trends. Nuanced understanding means better relationships with potential partners and gives a greater likelihood of success.

New research by Lightricks, a leading visual content software company behind popular apps such as Facetune, Videoleap and Photoleap, signals some important changes in the way creators work. The analysis is based on a survey conducted in partnership with YouGov, where 1000 content creators and aspiring content creators were polled. The focus was on those who produce photo and video content in particular.

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Here are some of the key data points from the study and what they mean for a new but rapidly maturing ecosystem.

Content creation as a career

It was not long ago that content creation was seen merely as a hobby, and the idea of a professional content creator seemed unrealistic.

The survey shows that 23% of creators are in the business of generating content for someone else’s brand and 33% do so as a side gig for other companies. Only a quarter of those surveyed treated content creation as a hobby.

While it’s encouraging that business is a big part of content creation as a discipline, it also means that today, individuals are more likely than they used to be to take financial factors into consideration when determining their project priorities. Three quarters of creators believe they are fairly compensated for their work, which may be a relief for marketing divisions worried about pressures on their budgets.

While 80% of the sample had worked with one brand during the past year, only 6% had worked with more than 20. There could be a variety of potential reasons behind this. It could be that most creators lack the resources to serve many brands over the course of a year, or it could indicate creators are highly selective with which brands they work with.

Economic impact

The news in 2023 has often been full of doom and gloom, with the threat of recession looming over many economies recovering from the pandemic. Yet the creator economy appears to be a relative safe haven.

Fully 40% of those surveyed revealed that they’ve earned more this year than last, despite the economic downturn, while only 20% reported that the conditions have negatively impacted their income.

It’s currently difficult to size the entire creator economy because of the lack of commonly accepted definition. However, the survey data is a strong indication that creators are reaping the rewards of their efforts and that businesses are still willing to invest in their content.

This doesn’t mean that creators have it easy, however. The number one problem for creators was building their audience, but the second and third most common answers related to monetization. This essentially comes down to earning from platforms and brand collaborations deals, whether in the form of custom content creation (55%), product placements (49%), or visual assets to be used in ads (46%).

The results imply that there is still significant room for growth for creators despite the rocky economy, and that once the economy starts to improve, earnings will likely grow rapidly.

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AI embraced warmly

A major section of the survey was dedicated toward understanding the relationship between generative AI and content creation. It appears that adoption has been rapid, with 68% of creators boasting that they’re already using generative AI.

Lightricks, the company behind the survey, has integrated AI heavily into their own apps, such as Videoleap, Photoleap and Facetune. Since launching their generative AI features in Photoleap in particular, they’ve seen an additional 150,000 downloads per week.

In the survey, creators showed they are using generative AI in a variety of ways:

• 53% use AI to create photo backgrounds
• 47% use AI to create video backgrounds
• 46% use AI to create avatar profile photos
• 42% use AI to create clothing and looks

These numbers indicate that today’s creators don’t view AI as being useful for only specific visual elements but are exploring the tools across their workflows.

Notably, a slender majority of creators have been asked by brands to use generative AI. Brands may have accelerated the uptake of the latest tools, as creators know there is demand for generated content.

Creators mixed on the future

The speed with which AI has disrupted the industry has some asking whether it will be short-lived. The survey responses show even more creators are willing to consider using generative AI in the future.

About 80% of creators say they will use the tools if it saves them money, time or helps their creative process. With many companies promising these benefits, it shall be interesting to see if next year, AI becomes even more entrenched into workflows for the average creator.

Tech disruptions can create both winners and losers, and creators are almost equally split on whether generative AI will help them financially. Some 38% believe that their brand collaboration fees will increase, and 22% think they will decrease, as a result of AI. Another 40% are convinced that fees won’t change, and as AI tools progress further, we’ll know more about who was right and who was wrong. Another 22% are convinced that fees won’t change, and as AI tools progress further, we’ll know more about who was right and who was wrong.

The Lightricks report sets important benchmarks for future comparisons, as the creator economy hits a major turning point. For now, you can take away that most creators aren’t treating their labor as a hobby and that AI has dramatically impacted their workflows. Despite the economic headwinds, many creators are thriving, but only time will reveal if this can be maintained.