Member Exclusive, New banks

Is banking the creator economy an untapped market?

  • A $100 billion+ market, the creator economy represents a major opportunity for financial services to zero in on.
  • A handful of fintechs have started to offer financial services tailored for creators and influencers.
close

Email a Friend

Is banking the creator economy an untapped market?

For many around the world, the creator economy has changed what it means to earn a living. Currently valued at over $100 billion, this industry consists of more than 50 million independent content creators, social media influencers, bloggers, and videographers worldwide. These creators garnered an estimated $15 billion in revenue last year, many without the financial tools and services available to traditional businesses. 

In fact, it appears the creator economy has grown so fast that hardly anyone in financial services has been able to keep up. This rapid growth has increased the need for financial entities to deal with a growing set of problems that are unique to creators, such as outstanding royalty fees, long pay cycles, and inconsistent earnings.

So far, traditional banks and financial institutions don’t seem to cater to these growing needs of the creator economy. Even among fintech firms – which are generally quicker to jump on new opportunities – only a handful in the industry have started to offer financial services that are geared towards creators and influencers.

Why has the creator economy (so far) been overlooked by traditional financial firms?

 


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account

0 comments on “Is banking the creator economy an untapped market?”

Member Exclusive, New banks

Banking Briefing — January 24, 2022

  • In this week's briefing, we've got Zopa converting to bankism, Current breaking the challenger bank mold, and banks shutting down branches.
  • The look and feel of banks is changing, but not always in the most predictable way.
Rivka Abramson | January 24, 2022
Member Exclusive, New banks

Banking Briefing — January 17, 2022

  • Overdraft fees have been under a lot of scrutiny recently, and more banks want to show they're above this revenue source.
  • But can banks really get away with getting rid of these unpopular fees while still staying afloat?
Rivka Abramson | January 17, 2022
New banks

What JPMorgan is doing with that $12 billion tech spend

  • JPMorgan significantly boosted its multi-billion dollar yearly tech budget.
  • But analysts weren't sold on the value of those investments, wanting more details on expected ROI.
Zachary Miller | January 17, 2022
Member Exclusive, New banks

Banking Briefing: Sinking public neobanks

  • The market hasn't been kind to newly-minted public neobanks.
  • Firms like Dave are experiencing a sinking share price as investors say 'meh' on their prospects and valuations.
Zachary Miller | January 10, 2022
Member Exclusive, New banks

Banking Briefing — January 3, 2022

  • 2021 was a big year for challenger banks but also for incumbents, too.
  • Tearsheet's Banking Briefing brings more depth and breadth to our banking coverage to Outlier members.
Rivka Abramson | January 03, 2022
More Articles