The global creator economy is estimated to be worth over $100 billion. However, the African market is barely enjoying this boom. This is mainly because African creators - independent writers, artists, social media influencers, videographers, gamers, and podcasters - struggle to earn a living from their content because of payment problems and the low earning power of their audience.
But despite these challenges, the African creator economy is evolving as content creators devise innovative ways of reaching new audiences and monetising content. This evolution has been pushed by the savvy young population of Africa, which according to UN estimates, has the youngest population in the world.
Over the years, the growth of the smartphone market and deep internet penetration in Africa has transformed individuals from casual internet users to skilled internet-aware users, primarily making a career leveraging social media and digital financial tools to monetise their skill and knowledge as content creators, influencers, and YouTubers.
The advancement in digital technologies has helped the African creator economy, allowing creators in Africa like Korty and Elsa Majimbo to express themselves through their unique content and share their creations with the world.
The creative industry is gradually becoming one of Africa's biggest labour employers. From comedy, podcasts and fashion, young Africans have turned what was once considered "hubby" into a money-making industry, creating employment for millions and exporting the African culture to the world.
Creators on the continent are becoming more diversified in their revenue streams, shifting from being paid by platforms like YouTube with ad revenue to being paid by fans via patronage and brand partnerships with companies.
Kayode Adebayo, the CEO of Ckrowd, a creator-centric content streaming service, alluded to the driving force of young Africans when he said young people on the continent had embraced content creation and are now making a living of it.
He told Channels TV that the African creator economy is already being harnessed to generate more revenue with faster and cheaper internet technology, smartphones, and other devices that young people embrace.
The exponential growth of the African creator economy has given rise to the need for tools and platforms that create funding opportunities tailored to creators in Africa. One such tool is AMAKA's new publishing platform which enables creators to generate income by focusing on creating unique niche content that caters to their audience's interests rather than making more generic content.
The creator economy has evolved over the years, and there is room for the sporadic rise of the sector with the emergence of more African-friendly platforms that make creatorship more profitable.