The creator economy is dead. Welcome to the content economy.

This is the most exciting time to examine the media landscape. Between brands shifting to more editorial media and creators building independent platforms, it’s given rise to a whole new sector of the creator economy: the content economy, where it’s no longer about who’s creating the media, but about where it’s being consumed.

In this issue:

• Why the creator economy is now the content economy

• What this means for platforms going forward

• Why is it going to create a divide between those who are building on a single platform versus those who are looking to build an ecosystem

• Shifts in media economics

—Alexa

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The creator economy as we know it is dead. 

Everyone is (or can be) a creator now. It's no longer new or revolutionary.

In fact, it’s expected. Whether you are a small business owner or an enterprise brand, you are expected to make content. 

It used to be a revolutionary idea. And now it’s mainstream and normalized. Companies are investing in influencer marketing and creators as a part of their marketing budgets and distribution channels to reach new audiences. In fact, the creator economy is projected to surpass $480 billion by 2027, with large enterprises investing an average of $5.6M-$8.1M annually.

The term “content creator” dates back to 2011, when YouTube coined it to replace “user.” Each platform defines it differently, but at its core, it’s anyone uploading anything to a platform. 

And that’s why, arguably, we’re all content creators now, whether you identify with that term or not. Whether you are an entrepreneur who makes media to market your business, media is your business, or you’re creating an aesthetic Reel for your Eurosummer trip, you are a content creator.

What this has done is give rise to the “content economy,” where the site of consumption weighs meaning more than the source of production. 

In other words, whereas the creator economy focuses on who’s producing it, the content economy focuses on where they’re consuming it. 

A new legion of trusted sources

According to a new Gallup poll, trust in traditional media is at an all-time low of 28%, with audiences turning to creators and independent journalists for news and perspectives. At the same time, nearly 61% of consumers trust creator recommendations more than traditional brand ads. 

What this has done is drive a shift towards “creator-educators” or “creator-journalists” creating content around areas of expertise rather than aesthetic, lifestyle-driven content—otherwise known as entrepreneurial journalism. 

Entrepreneurial journalism can be defined as “the concepts and practices of developing media content solutions for the digital age.” It’s knowledge-driven, creator-led storytelling that reaches and engages audiences directly. It’s content creation that blends reporting, education, and cultural interpretation. 

With entrepreneurial journalism, the content is the product—you own and control the platform and narrative. The idea is that you build an owned audience through long-form content platforms and independent media companies.

What this shift in consumption does is present an opportunity to merge journalistic rigor with creator economy agility to deliver knowledge-driven storytelling that engages, innovates, and remains relevant through independently run media platforms and content ecosystems, creating a new legion of trusted, credible media sources to fill the gap left by brands and media outlets.

Creator-first platforms

It’s no longer just about what platform you’re on, but what you’re using the platform to build. 

We’re starting to see a clear divide between platforms that empower creators and those that empower businesses. 

Early players like Substack and Patreon have been go-to tools for creators. But as these platforms grow, it’s become clear they don’t prioritize creators' success or the ownership of their audiences. Instead of you owning your audience, the platform does. 

It’s really the creators who are benefiting the platforms’ bottom line, not the other way around. 

The majority of these platforms operate like social platforms, forcing you to become dependent on the platform because they make it impossible to leave or to find success if you’re not using their tools to run your brand or your business. 

Platforms should serve as enablers and facilitators to help creators thrive, not trap them. 

beehiiv’s announcement last week is going to change how we think about building a platform and media brand. 

Instead of building one type of media on one platform, you have one central “operating system” that powers your entire media business, from newsletter to YouTube to digital products. 

Building a brand versus building a platform

When we think of the word “content creator,” we typically associate it with social media content. In contrast, terms such as “YouTuber,” “newsletter operator,” and “podcast host” describe long-form content creators.

It’s safe to say that the backbone of the creator economy is social media content. But the term has broadened to encompass long-form channels such as YouTube shows, podcasts, newsletters, and digital products. Essentially, it's anything you can use to connect with, engage, and distribute to your audience.

But in the content economy, you’re not just building for one platform anymore. You’re creating an ecosystem.

It’s more than just creating short-form video content for TikTok or a Substack. It’s about how you can expand the same ideas and influence across multiple channels to reach multiple audiences by carrying IP, an idea, or expertise from one channel to another, at different touchpoints, and communicating with them through different mediums. 

Not only are you creating an ecosystem, but you’re creating an entire brand experience, where you’re taking audiences on a journey through a brand world.

A shift in media economics

As a creator, you no longer need permission to distribute content. No network exec, no publisher, no gatekeeper. All you need to do is press publish. 

However, it can make growth more challenging. 

Whereas traditional media outlets used to rely on search for discoverability and growth, it’s not important for independent outlets. 

In the 2010s, there was a strong emphasis on and investment in SEO for discoverability and reach; AI has made it less relevant. AI-generated snippets result in fewer link clicks, and search results pages are filled with generic content written by anyone, diluting subject matter expertise. 

What this is doing is prompting creators to create privatized content channels, where the best content is now found off Google and behind paywalls, inside memberships, and on the other side of subscription pages. It’s creating a closed-web system where good content is much harder to access. And to access it, there is a barrier to entry, whether it's entering your credit card or your email address. 

What this does is add friction—you have to seek out the content actively rather than have it fed to you. It also creates a sense of novelty: finding content through word of mouth, another newsletter, or seeing someone else’s post in your feed, as if you're discovering a best-kept secret or hidden gem. 

Seeking out content forces you to curate a media diet with content with insights and expertise that you can’t find anywhere else—and that’s what keeps people subscribed, engaged, and supporting the platform. 

Indie media brands are growing not from search traffic but by diversifying their platform strategy across channels and exploring avenues such as corporate-sponsored events, content, advertising, memberships, community building, and more (hence the “entrepreneur” in “entrepreneurial journalism”).

The new guard of media brands no longer has to rely on traditional methods to distribute, publish, and monetize content; they need people and brands to buy into their mission and perspective.

The content economy is the future 

It’s no longer just about who’s creating content, but where they are creating. Platforms, distribution channels, and discoverability will all play a significant role in how audiences consume and access media. And create an entirely new category of media altogether. 

ICYMI

• I dove into what Netflix’s new streaming report revealed about how we view culture and identity through media

• I interviewed Avalon Willows, creator of P’zonefest, about what it means to build community through performance art

• Instead of removing friction, aim to add it back in
  

Media Diet

• RIP freelance journalism: Candid advice to the young writers the world needs to read (Esc)

• Young People Are Falling in Love With Old Technology (WSJ)

• Social media and fandom (Deloitte)

Quick Hits

• beehiiv made a major platform announcement that practically broke the creator economy side of the internet (spoiler: they are more than just newsletters)

• Starbucks announced a new limited-edition “bearista” collector’s cup that will easily be this holiday season’s most coveted item

• If you have the AmEx Platinum card, don’t forget to pick up your Glow Recipe goodie bag next time you hit a Centurion lounge

• The new “Netflix House” is rethinking the role that IP can play in experience design and retail merchandising.

• Andreessen Horowitz (aka the world’s largest VC firm) announced a new media fellowship geared towards those shaping the next era of media.