The creator economy is booming, and employers should be terrified.
In our State of the Side Hustle survey, we asked digital content creators — bloggers, podcasters and video creators — to share how they earn money.
Here are some of the highlights:
The hammer is about to drop for employers: 40% of the creators we surveyed have a day job, and 73% of them plan to quit to become a full-time creator. Of those creators who plan to quit their jobs, 44% plan to leave in the next 12 months.
The most common channels for monetization are selling digital products (70%), consulting and freelancing (49%) and ads, sponsors or donations (15%).
Consulting and freelancing is the highest-earning channel for 41% of creators, while 30% list digital products as their highest-earning channel.
But that’s going to change, as 73% of creators plan to increase how much they sell products directly to their audience. Meanwhile, 37% of creators plan to decrease how much they monetize through consulting & freelancing, and 39% plan to decrease how much they monetize through third-parties like advertisers, sponsors and affiliate partners.
See the full infographic below!