Startups that are streamlining the management and operations of content production in the creator economy.
The creator economy is a dynamic system supported by independent content creators across social media platforms such as YouTube, TikTok and Instagram. These creators are incentivised by the platforms to produce and share engaging material with their audiences. The aim is to expand their fan base while actively maintaining existing connections through the curation, production, and distribution of unique content. The introduction of monetization options on social media platforms has led to the emergence of a new professional class of individuals making a living through content creation. Additionally, a growing number of creator economy startups have surfaced, aiming to provide assistance and resources to these unique content producers.
Linktree
Linktree enables producers to consolidate their social handles, retail links, and blog content into a single page that can be linked to their social media bios, email signatures, and custom QR codes. Using Linktree, creators are able to direct their followers to closed communities, similar to premium subscription models, but with the added advantage of community engagement. This provides an additional revenue stream for creators, as these closed communities are paid-access only, a feature which Linktree calls Payment Lock. When Linktree launched in 2016, it solved social media’s most ‘annoying’ problem: only having one link in the bio. Linktree was the first to offer a ‘Link-in-bio’ tool, and the simplicity of the service garnered the company more than 30 million users in six years. Currently, Linktree is valued at approximately USD 1.3 billion.
Patreon
Patreon is a membership platform that allows content creators to get paid by their fans or patrons who pay a set amount every month. The startup was founded over a decade ago by Musician Jack Conte whose videos were getting millions of views on YouTube but the YouTube’s partnership program was only generating revenues in the hundreds. Conte and his friend Sam Yam together started Patreon which allowed their fans to support them directly, removing their reliance on YouTube. Content creators across all social media platforms now use Patreon as a revenue stream in exchange for early access to content along with exclusive insights like behind-the-scenes and extended cuts. Memberships are often organized into tiers, with greater levels of support providing access to additional content and benefits. Since its inception, Patreon has more than 8 million monthly active members, 250,000 creators, and has paid out more than USD 3.5 billion in revenues.
Substack
Substack is a platform for email newsletter publishing that allows writers to provide subscriptions and receive direct feedback from readers. It includes a money-processing system and audience analytics. Substack has hired several high-profile journalists who quit traditional media employment to create their own independent newsletters since its inception in 2017. Substack has been called a nice internet enclave where long-form content creators may share their newsletters, tales, and blogs while earning a small fee from their followers through subscriptions. Substack’s success is owed to its simplistic model as writers can rely on the service instead of needing to develop a website.
ConvertKit
ConvertKit is a marketing platform for creators. It is a full-featured email service provider (ESP) with automation features, customisable sign-up forms and landing pages to help bring in more subscribers. Unlike other ESPs, ConvertKit focuses on one target audience only – online creators, particularly bloggers and YouTubers. The platform offers subscriber insights allowing creators to track and monitor growth over time, a feature which can be accessed through its Creator Pro plan. The plan also gives creators access to automated sales funnels as well as the ability to target emails and sequences based on audience category. ConvertKit was founded in 2013 by Nathan Barry, and in over its ten-year journey, has reached a valuation of USD 36.4 million.
Kajabi
Kajabi, a prominent creator economy platform, enables innovators to turn their knowledge into revenue streams. With Kajabi, creators can easily design, market, and sell online courses, membership sites, coaching programs, podcasts, and more. Kajabi provides creators with a single dashboard to conveniently access websites, goods, and marketing plans, and comes equipped with complete marketing capabilities, CRM administration, and strong analytics. Content providers can also use the platform to sell digital products such as virtual meetups, coaching programs, membership websites, and podcasts. Kajabi Creator Studio, an AI-powered product transcribes a video, reads through the script, and finds key lines to make a video summary. Kajabi was founded by Kenny Reuter in 2010 and as of 2021, was valued at more than USD 2 billion.
Karat
Karat helps creators build their credit score. A problem often observed among creators is that despite earning six-to-seven-figure revenues a year, they are denied the capital they need to expand their businesses. While reasons vary, the main problem is that most content creators are relatively young, have limited business and credit histories, and have inconsistent incomes across platforms. Karat solves this particular problem by providing tailored financing and assistance. Unlike traditional banks, Karat takes into account creators’ engagement rates and follower counts before granting financing based on their audience size. Furthermore, Karat provides exclusive awards and financial planning assistance customised to the needs of producers.
