ASIA AND OCEANA CREATOR ECONOMY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Asia and Oceana Creator Economy Market Size and Trends

The Asia and Oceana Creator Economy market size is estimated to be valued at US$ 18.35 billion in 2023 and is expected to reach US$ 52.17 billion by 2030, grow at a compound annual growth rate (CAGR) of 16.1% from 2023 to 2030.

The creator economy refers to the class of entrepreneurs, solopreneurs, influencers, bloggers, YouTubers, artists, and other content creators who monetize their content online. The growth in smartphone and internet penetration in Asia Pacific has enabled the rise of creator economy in the region. Creators are able to build their own personal brands and monetize it through advertisements, sponsorships, paid content, tipping, e-commerce sales, paid communities etc. Key drivers of the market include rising internet and smartphone penetration, youth population’s increasing spending on digital content, advancements in digital payment infrastructure, and increasing use of social media.

Asia and Oceana Creator Economy Market Trends:

Rise of Educational Content Creators: The creator economy is witnessing a major rise in educational content creators, teachers and experts sharing knowledge online through engaging formats. These include creators making explanatory videos, how-to guides, tutorials, online courses, live classes and more spanning diverse knowledge fields.

Parents are encouraging children to follow science, math, language learning creators. Adults are seeking creators teaching professional courses like coding, marketing, finance etc. The knowledge creator segment enables digital learning and skill development.

Vernacular and Local Language Content: There is rising demand for content created in local languages and dialects. Platforms are expanding language support beyond just English targeting vernacular Indian languages, Chinese, Bahasa, Thai, Japanese, Korean etc. Creators are producing localized content for deeper regional engagement.

For instance, short form video app Josh has over 50 million MAUs in India due to its support for regional language content. Such vernacular content allows creators from lower-tier cities and towns to also grow an audience and find opportunities.

Live Video and Interactive Formats: Creators are leveraging interactive live video formats across social media platforms to foster deeper audience engagement. These include livestreams, ask-me-anything sessions, real-time challenges etc.

Exclusive live content and interactions are helping creators build loyalty and monetize through gifts, tips,in-stream sales etc. Thus, interactive formats enable differentiated content that followers value and pay for.

AR/VR to Unlock New Creator Experiences: Emerging technologies like AR, VR and Metaverse will give rise to new creator-led experiences. Some examples include immersive concerts, fan events, exclusive VR spaces with creators etc.

Such innovative formats can enable multi-sensory consumer experiences driving more niche content consumption. Hence, tech advancements can provide creators with tools for further creativity and community building.