“Creator Economy”: Theory and Its Use

Abstract

The article delves into a modern phenomenon known as "The Creator Economy."The authors attempted to examine the existing knowledge regarding the "creator economy" in terms of developing a "theory of the creator economy." The researchers concentrated on the effects of the new phenomenon, which are embodied in modern economies design modifications, rather than the technological foundations of the new phenomenon. The key aspect (core) of the creator economy is the IT companies' platforms activity, which is examined in this article. For the purpose of delineating the creator economy borders, the economic circular flow diagrams toolkit is used. There are four groups of creator economic entities: 1) actual creators of new information products, 2) platforms of IT companies, 3) consumers of information products who become co-creators of content, and 4) representatives of advertising and innovation businesses and non-profit organizations who are interested in the creator economy's existence. The "creator economy" as a segment of modern economies is described in terms of its products, resources, expenses, and revenues. Given the distinctiveness of the information product, it is proven that the "creator economy" could be identified as the "creator economy of new meanings." After all, a unique information product developed in this sector of the economy allows us to forecast the future and set the groundwork for it today. The concept of "endogeneity of the creator economy" is defined as a phenomenon unique to a certain economy. There are several connections between the "creator economy" and other areas of national economies. Theoretical assumptions concerning possible directions for further development of the "creator economy" idea are formulated.

Exploring online social platform affordances for digital creators: a multi-method approach using qualitative and configurational analysis

“…This economic performance demonstrates the potential and promise of the creator economy, encouraging more individuals to participate. Creators valuing virtual ownership are driving the expansion of this creator ecosystem (Radionova and Trots, 2021).…”

“…The creator ecosystem has emerged as one of the most rapidly expanding categories of small businesses (El Sanyoura and Anderson, 2022). Participants in the creator ecosystem encompass the platform, creators, consumers of digitized goods and services, and many organizations seeking to garner attention from audiences (Radionova and Trots, 2021). There exists a multitude of creators whose primary motive may revolve around economic incentives as they endeavor to generate revenue from their online social platform endeavors through monetization strategies (Kopf, 2020).…”

“…Sustainable growth and development in this ecosystem depend on effective interactions and mutual support among these entities. Radionova and Trots (2021) described the economic cycle in the creator economy segment, involving creators, consumers, and online platforms.…”