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Olugbemi. Adeyinka Ogunleye
2 weeks ago
Overview
Creator economy in Africa hits $3bn, to reach $17bn by 2030
In the past few years, the creator economy has grown rapidly, moving from a niche trend to a global force. Digital platforms have made it easier for individuals to turn their skills, knowledge, and creativity into sustainable income streams.
In Africa, this shift is becoming more evident, with more creators building careers online and reaching audiences beyond their borders.
A report by Communique predicts that the global creator economy will be worth $500 billion by 2027. Another report by the creative brief revealed that the creator economy in Africa was valued at $3.08 billion in 2023 and is projected to be worth $17.84 billion by 2030 – according to a publication on the Creative Brief. Closer to home, Selar—one of the leading creator platforms in Africa—paid out 9.8 billion naira (about $6 million) to African creators in 2024.
At the centre of this boom is the growing population of young, tech-savvy with an undeniable hack for storytelling. Social media usage, mobile broadband access and the rise of e-commerce storebuilders like Selar have indeed also been a game changer. Creators now have more tools than ever to monetise their talents, skills and knowledge, whether through brand deals, digital products, subscription services or even merchandise.
“The creator economy has completely shifted how African creators earn a living. Creators now have full control over how they earn, and they’re building sustainable businesses around what they know and love. All you need today is the internet and something valuable to share. ” Douglas Kendyson, CEO/Founder of Selar said.
More: https://guardian.ng/life/life-features/creator-economy-in-africa-hits-3bn-to-reach-17bn-by-2030/#:~:text=In%20the%20past%20few%20years,creativity%20into%20sustainable%20income%20streams.
