The creator economy has been a game-changer, changing the way we see media and helping several people showcase their talents to earn money. Content creation seemed like a great career choice for many, as anyone could do it, as long as they had basic equipment.

However, the creator ecosystem is becoming quite centralized with those at the top of the pyramid raking in most of the money and everyone else struggling. Here we’ll discuss why’s online content creation becoming so centralized (which it was never envisioned to be) and whether it is still worth pursuing a career as a creator.

Who Is a Content Creator?

The term content creator is rather self-explanatory. They work specifically to create content for a specific audience or topic, either independently or with the help of a partner or team. Technically, even bloggers and writers can be considered content creators, but nowadays, the term is mostly associated with social media creators.

They usually post their work on platforms like YouTube, Instagram, TikTok, blogs, or even their own website. Content creators can monetize their work in various ways including ad revenues, brand sponsorships, merchandise sales, and f fan donations.

It has seemed like the creator economy was becoming more and more top-heavy for a while now, with a few creators getting the bulk of the pie. Now, we have data to back up these claims, and a Bank of America report says that the percentage of its customers who are “content creators” has fallen YoY. Moreover, the report says that their income levels are quite low and an average content creator makes just about a fifth of what a typical full-time employee in the US makes.

“This suggests that it’s rare to earn a full-time wage in content creation – let alone get rich,” says Bank of America in its report. This may seem surprising, given how many social media and YouTube stars we see on a daily basis.

Top creators like MrBeast and Jake Paul earn millions of dollars every year and are a testimony to the potential that the content creation industry holds. However, the sad reality of the creator ecosystem is that the vast majority of creators never see anything close to that kind of wealth. They often struggle to make living wages, let alone earn millions of dollars every year.

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Many Content Creators Struggling to Make Money

Bank of America’s data shows that the percentage of its customers earning money through content creation peaked at 0.52% in September 2021 and has declined every year since then. The number fell to 0.20% in September 2024 which is less than half of its peak and only a tad higher than the 0.19% in September 2019.

“In our view, this is partially due to the slowdown in paid partnerships (brands using content creators as ads) in the past year and the competitiveness in this space, as more paid partnerships are concentrated among the top creators,” said America’s second-biggest bank in its note.

It also presented a sorry state of the earnings that creators are making, with the amount that they get from digital platforms being only 20% of the monthly income of a typical full-time employee.

The report adds, “And only once in the past five years has the average monthly income of a content creator been higher than the average weekly income of a typical full-time worker, suggesting that very few people earn a living from content creation, let alone get rich from it.”

What’s Wrong with the Content Creation Industry?

The creator economy saw tremendous growth during the COVID-19 pandemic as traffic on social media platforms absolutely skyrocketed and millions of people tried content creation. However, it is clearly getting harder to make decent money in the creator economy.

The content creation landscape is now maturing and like almost every other industry those having the first mover advantage are now entrenched making it increasingly harder for new creators to make money.

Also, the number of creators on platforms like TikTok and YouTube has grown multi-fold which means that viewers are spoilt for choice. Many content creators join the ecosystem with unrealistic expectations of becoming a social media sensation in quick time, while content creation is not a space where one can become famous or make insane money overnight.

It takes a lot of time, effort, and luck to grow a loyal following large enough to monetize. This would entail posting regular and engaging content that the audience likes and can relate to. Unfortunately, many content creators give up midway on the long road to monetization.

Is It Worth Being a Creator Now?

While it is getting harder to make money as a new creator it does not mean that it is not worth being one. The online content creation ecosystem continues to grow and snatch market share from legacy platforms like linear TV. However, while entering the industry one has to set realistic expectations and be ready to slog it out for months and even years before sizeable earnings start pouring in. It’s likely better to see it as a hobby rather than a money-making venture.

There is still good demand for new and quality content and if one can create a niche it can be a good proposition. Like almost every other industry, content creation might also continue to evolve into one that’s top-heavy where the top 1% make the bulk of the money but since the ecosystem is still growing at a brisk pace and new avenues continue to evolve, it is not t00 late to join the ecosystem.