by The creator economy refers to platforms that connect content creators directly with their audience to monetize their creative works. It enables individuals to generate income through platforms and marketplaces that allow them to create, promote, and sell their original content and products directly to interested buyers online. Asia and Oceania has seen rapid growth of creator economy platforms over the past few years, particularly those related to social media content creation and e-commerce. Individuals in the region have taken to platforms like YouTube, Instagram, TikTok and Facebook to share their creative works including videos, photographs, digital designs and more. The increasing availability of affordable smartphones and mobile internet has enabled more people in Asia and Oceania to access creator tools and platforms. With growing dispositional incomes, consumers in the region have high demand for rich digital content across categories like entertainment, gaming, education and more. Content creators have been able to monetize their work by leveraging features like subscriptions, donations, online product/service selling and creator sponsorship deals.
The global Asia and Oceania Creator Economy Market is estimated to be valued at US$ 135.2 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving growth in the Asia and Oceania creator economy has been the rise of short-form video platforms. TikTok has seen explosive growth across several countries in the region including India, Indonesia, Philippines and more. Creators have successfully leveraged TikTok’s format and features to build huge fan followings by sharing entertaining, educational or skill-based short videos. This has encouraged a number of new short-video platforms to enter the market as well. Secondly, live streaming of content has emerged as another monetization avenue for creators. Platforms allow creators to engage with fans in real-time through live video streams, virtual gifts and chat. This interactive format has helped boost creator incomes. Lastly, collaboration between creators has also increased through features that allow them to co-create content, bringing together complementary skills and audiences to produce popular collaborative projects. This trend is seen to further stimulate creativity and incomes in the Asia and Oceania creator economy.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Asia and Oceana creator economy market is low as it requires high capital investment to enter this market and established players already have strong brand value and customer loyalty.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many players in this market providing similar services, giving buyers options to switch between brands easily.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many content creators and influencers who can supply content and services to platforms.
Threat of new substitutes: The threat of new substitutes is moderate as some new technologies and business models are emerging as substitutes.
Competitive rivalry: The competition in the Asia and Oceana creator economy market is high among established players.
Key Takeaways
The Asia And Oceana Creator Economy Market Demand is expected to witness high growth over the forecast period. The region is expected to dominate the global creator economy market in terms of growth and opportunities. The global Asia and Oceania Creator Economy Market is estimated to be valued at US$ 135.2 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030.
Regional analysis: The Southeast Asian countries are emerging as the fastest growing creator economy market in Asia and Oceana. Countries like India and China are also expected to see significant growth in their creator markets owing to their large population and increasing internet and smartphone penetration.
Key players: Key players operating in the Asia and Oceana creator economy market are YouTube, Facebook, Instagram, Twitch, Patreon, Kuaishou, ByteDance. YouTube and Facebook currently dominate the video and live streaming space in Asia, while TikTok and Kuaishou have become very popular short video platforms.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
