Friday, December 9, 2022

Adobe ‘Future of Creativity’ Study

Adobe (Nasdaq:ADBE) released new data and insights from the Adobe ‘Future of Creativity’ Study, focusing on growing business opportunities for creators. The latest report titled ‘Monetisation in the Creator Economy’ provides an in-depth look at how non-professional creators who are exploring creative side hustles and hobbies are now monetising their content, as well as how they are engaging with a new medium: the metaverse. Adobe’s study found that the majority, 48 percent of Australian creators, monetise their content, out of which 79 percent of creators just started monetising content in the past year.

“The rapid expansion of the Creator Economy has spurred increasing opportunities for creators to monetise their creative talents, turning their passions into new careers and businesses,” said Ashley Still, senior vice president, digital media marketing, strategy and global partnerships at Adobe. “It’s an exciting time to be a creator, and we’re committed to fuelling these business opportunities by providing tools such as Adobe Express, making it easy and fun for everyone to be a creator and bring their inspirations to life.”

In the past two years, the global creator economy grew by 165 million and is poised for further growth as Gen Z creators continue entering the workforce. Monetisation has grown significantly in the past year and has become a goal for Gen Z creators as they are enticed by opportunities available with their creative content. Almost half of the surveyed Gen Z creators said they would rather start their own creative businesses than attend university.

Adobe’s Future of Creativity Study provides the most comprehensive view into the Creator Economy, including how creativity is changing across nine major regions: the U.S., UK, Australia, Spain, France, Germany, Japan, South Korea, and Brazil. Adobe tools from Creative Cloud to Adobe Express – the leading all-in-one tool for creating social graphics, flyers, logos and videos – empower individuals, solopreneurs, social influencers, small business owners and enterprises around the world to tell their stories, enabling anyone to create professional-quality content with unprecedented speed and ease.

Monetisation Opportunities are Driving Growth in the Creator Economy

Now comprised of more than 303 million creators globally, the creator economy is poised for continued growth as monetisation opportunities entice creators to turn their passions into businesses. Australia is making a huge contribution to this momentum – adding 3 million new creators from Australia since 2020, which means a 48 percent increase in its creator economy.

  • Australian creators have capitalised on this, with nearly half (48 percent) earning money from their creative pursuits.
  • Nearly half (58 percent) of Australian creators earn 50 percent of their monthly income from social media content creation.
  • More than three-quarters (79 percent) of Australian creators who monetise their content only started doing so within the past year, with only 21 percent starting 2+ years ago.
  • Nearly half (38 percent) of Australian monetisers are making more money now than they were two years ago. Over half (77 percent) of Australian creators anticipate earning even more in the next two years.

Gen Z Creators Are Weighing Their Options: Content Creation or University?

  • Gen Z in Australia is betting big on the creator economy, and their entrepreneurial spirit is inspiring the pursuit of non-traditional jobs, including content creation.
  • 1 in 4 (49 percent) of Gen Z monetisers say they would prefer to start their own creative businesses rather than attend university.
  • Witnessing the exponential rise of the creator economy in Australia, the study confirms that around (30 percent) of Australian creators are motivated to create by the potential of the earning opportunity and to make it their full-time career.
  • NFT and VR technology is also catching up with Australian Gen Z monetisers as they look for different avenues to use their creative content (photography, design, content etc.).

Creators looks to advocate social change

Despite pay equity gaps, Australian creators are working ambitiously towards the causes they feel most strongly about.

Over (37 percent) of Australian monetisers are creating original content advocating for the causes they care about. Issues of utmost importance include climate change, followed by social justice and diversity and inclusion

The pay equity gap between male and female Australian creators persists. Male creators earn, on average, AU$157, while female creators earn AU$115. However, as per the study globally both male and female creators have high aspirations towards building their business out of creator economy by capitalising on their influencer status.

Creators Look to the Metaverse for Businesses and Job Opportunities

  • Entrepreneurial creators see immersive experiences as a new frontier to monetise their work.
  • Over two-thirds of Australian creators (70 percent) say the metaverse will bring new job opportunities as it continues to grow.
  • Over half of the Australian creators, including Gen Z, engage through early metaverse experiences, including gaming, socialising, and shopping.
  • Australian creators, including Gen Z, also see the metaverse as a place for business with top three reasons including: a place to buy NFTs, create NFTs, and buy virtual real estate.

As Gen Z creators continue entering the workforce and opportunities to monetise creative content grow across traditional and new immersive media, the Creator Economy is poised for further growth.

About the Future of Creativity Study

Adobe’s Future of Creativity study aims to understand how creativity is changing around the world, speaking directly with those at the forefront of online creativity: creators in the Creator Economy. The study examines the future of creativity from a variety of perspectives.

Methodology

The Future of Creativity study surveyed ~9,000 online non-professional creators in May 2022, in nine leading regions (the U.S., Australia, UK, Spain, France, Germany, Japan, South Korea and Brazil). Adobe partnered with Edelman Data and Intelligence to conduct the study and analyse data to identify key trends across the Creator Economy. ‘Creators’ are defined as non-professionals having participated in creative activities (such as photography, creative writing and original social media content creation) and posting, sharing or promoting their work from these activities online at least monthly with the goal of growing their social presence. ‘Monetisers’ are a subset of these creators who earn income through their creative activities, selling via websites or marketplaces, or generating revenue from partnerships, affiliate links and/or ad revenue. Data was collected from 5,350 Gen-Pop creators (ages 18+, ~600 per market), 5,222 Gen Z creators (ages 16-24, ~600 per market) with a ±1.4 percent margin of error and 95 percent confidence level.

Visit https://www.adobe.com

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