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Mighty Encyclopedia

Creator Economy

What is the creator economy?

The creator economy is an economy built around highly motivated, creative, and skilled individuals that have started their own brand, business, or community utilizing a digital platform to share and monetize their work. The creator economy answers the growing demand that many people are looking for: easily accessible expertise, experiences, and communities.

Thanks to the number of of e-commerce platforms and online community platforms the creator economy has grown exponentially. Platforms like Shopify allow creators to build digital storefronts to sell their products, and online community platforms like Mighty Networks allow creators to build communities, offer online courses, and even host virtual events all in one place.

The availability of digital platforms has helped the creator economy thrive because it has allowed creators to connect with people from anywhere in the world.

The creator economy has three main aspects that work together in creating this thriving industry:

  1. Creators that build their own businesses around a unique skill, concept, passion, or goal.

  2. Digital platforms that allow creators to host their content and products so they can grow their business and communities.

  3. The consumers that buy the content and services that creators produce.

Examples of creators in the creator economy

Slow AF Run Club: Martinus Evans has grown an Instagram and podcast following centered on a unique running niche—slow runners—into an over 6,000-strong online community of runners. On his Mighty Networks platform, Evans offers training plans, weekly live coaching, and courses.

Institute of EMBODIED Living: Elizabeth DiAlto created a paid membership community that helps women navigate the complexities of self-love and healing in order to find liberation. She has rallied over 100 people around her content and grown her brand into a five-figure business. She offers her members online courses, live streams, monthly AMAs, and seasonal workshops.

Teach Music Online: Carly Walton took her expertise in teaching music online and created a paid community that offers online courses to music instructors looking to branch out into online teaching. Now, Walton’s community has grown to over 200 members and her members have helped her build a five-figure business. She created monthly Q&As, virtual classes taught by Carly and guest experts, multiple tools and resources, and more.

Now Read: The Ultimate Guide to the Creator Economy