In a market that is becoming more competitive and unstable, social media artists are looking to monthly subscription services to help them make money directly from their fans.
The Bank of America Institute released data this month that shows the creator economy peaked in September 2021.
Over the last three years, the average monthly pay for content creators has increased; yet, the average monthly income of a full-time U.S. employee is five times higher.
The study was also carried out by the Bank of America Institute, a think tank that uses Bank of America customer data for its studies, and it concluded that it’s uncommon to make a full-time living in content production, let alone become wealthy.
Source (CNBC)
