2024 Creator Economy Predictions and Trends
Hey Creators,
Welcome to a New Year! 2024 is starting off with a BANG and we're going to cover the trends and predictions that can help you start it off and the right foot! Be sure to checkout this video on Starting a YouTube Channel in 2024 if that is one of your big goals for this year!
Also, if you missed it earlier, we are doing a 50% OFF HOLIDAY SALE on the Brand Deals Starter Kit, YouTube Starter Kit, and the Canva for Creators Course until January 16th (giving you a few paydays to get this deal). Use Code: HOLIDAY50 at checkout.
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Trends for 2024 on YouTube Social Media
When considering a profitable niche, most creators only focus on high CPM/RPM niches on YouTube from an Adsense standpoint. I've made a video you can watch here covering Profitable Niches on YouTube.
What most don't consider is whether that niche also has great sponsorship opportunities. Some niches do very well in views and can earn significantly from Adsense, but only if views are high and lack sponsor opportunities or the ability to create and sell digital products, meaning they rely on Ad Revenue, Donations, and support through Merchandise Sales. This is typically the upper limit of monetization for many creators.
My Top 12 2024 Trends and Predictions:
- Longer YouTube Videos 20+ Minutes
- Faceless Channels will DOMINATES
- AI-Assisted Content and AI Controversy
- More Established Creators Retiring/Quitting
- The Rise of Video Podcasting
- Improvements to YouTube Live Streaming
- Abandoning "Beastification"
- Search-Friendly Content Will Make a Comeback
- Creators will Make Email List Great Again
- Multi-streaming as a New Normal
- IRL/Reality TV Style Content Will Be Popular
- TikTok as a Platform Will Decline in Popularity
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Creator News: MatPat of GameTheorists and Tom Scott Retire From YouTube.
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OG YouTubers such as Mat and Stephanie Patrick of Theorists Media (Game Theory, Film Theory, Food Theory, Fashion Theory, GT Live), Tom Scott and Captain Sparklez.
Many prominent YouTube Creators are maturing into their 30s or mid to late 40s. Many of them are starting or growing families and want to find a better balance and realize that YouTube is no longer right-sized in their lives.
Rather than let circumstances force their hand, these Creators are choosing to step away either permanently or temporarily.
My take on this is that it shows a level of maturity and self-awareness to know when you've reached a point where it's not fair to yourself or the audience to keep making compromises.
Every Creator should be considering any exit strategy for their career and business exit strategy, and what that looks like, whether it's retiring with the money you've earned and invested, moving on to a behind-the-scenes role in the industry, or whether it is passing the torch and having a successor to the brand you have built.
While many are lamenting the retirment of larger content creators who have been some of the founders of the industry, I think we should celebrate the fact that retirment is now an option!
And what this proves is that this is a viable career that can put a person in the position to not only do what they love for a living, but do it on their terms, including decide how long they get to do it for.
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This week, I'm partnering with Kajabi and StreamYard to give a FREE Workshop on building a $100,000 Year Online Business, which I've successfully done using their tools.
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Regarding Creator Monetization, I'm focusing on monetizing more OFF-PLATFORM rather than prioritizing getting more views and Ad Revenue from the YouTube Partner Program.
By multi-streaming with StreamYard, I've used Live videos and their replays across multiple platforms to grow my Email Newsletter. Also, this has been perfect for generating leads for my own Membership Site and Digital Products on Kajabi, consistently generating over $100K a year.
Currently, I don't offer any $500+ Courses. I've accomplished these earnings by offering my Awesome Creator Academy Pro Group as a membership, which generates roughly $4000/mo (MRR), and I offer solo coaching for Creators and Digital Products from $9 to $99.
StreamYard allows me to prove myself on any platform where people might discover me and offers FREE VALUE with Live and unscripted videos that prove my credibility in real-time.
With Kajabi, I can capture emails or sell products directly to my audience without splitting my revenue 70/30 or 50/50 with a platform.
As a Creator, this puts me in control by giving me a direct relationship and direct transaction with my audience.
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My INSIDERS Take on the End of "Beastification"
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MrBeast is the most well-known content creator and the second-largest YouTube channel in existence. Unsurprisingly, he has a massive influence on the culture of YouTube and content creation as a career.
The influence of his approach to YouTube and content has been dubbed "Beastification" and has resulted in mixed responses in the creator community. Some say that it "ruined YouTube". In contrast, others are grateful to find a path forward to views, subscribers, and revenue by modeling what works from a successful creator they admire, even if that means emulating them to an extreme degree.
The methods and approach to "Beastification", whether it be spectacle content, reinvesting most of your profits into making the best content ever, or extreme retention based editing styles, will always have a place on YouTube, at least for the next few years.
However more and more creators will resist needing to make "MrBeast-like" content, in it's various forms and will experiment with other apporaches and formats. Longer videos with slower pacing and a greater focus on storytelling are making a strong comeback in 2024 already, and it's likely we will see more creators shift and try to breakout in their own way rather than relying on what has worked for the largest creators on the platform.
As for my own thoughts on this, I don't believe that MrBeast "ruined" YouTube, but I do think that "Beastification" hasn't always been a positive influence and some assert that its the only way to grow in today's competitive landscape. I would disagree with that, but I think there are a lot of positive aspect of MrBeast methods that creators of any level can learn from and apply to themselves.
CREATING MORE RESOURCES FOR YOU
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We've been trying to create more resources for you over at Awesome Creator Academy to build the ultimate Creator Education Business. This includes our library of articles and videos to help you navigate becoming a full-time content creator.
Check out our Academy Member Pro Group! We offer 2 Office Hours Sessions Every Week.
You Will Get Access to All of Our Current and FUTURE Digital Products and Courses as long as you are a paying monthly member!
On top of all of that, you will be part of a community where you can get feedback and accountability partners!
CREATOR NEWS AND UPDATES
Here are some great videos and other content #TeamRoberto has for you!
- š¬ YouTube Will Demonetize Your Channel For Thisā
- āļø How to Find an Audience Avatar and Niche Downā
- āļø YouTube Going All in On AI Toolsā
- āļø X/Twitter Ad Revenue Surprises Creatorsā
- š¬ Why 97% of YouTubers Fail and How to Succeedā
- š¤ Interview with Nathan Barry from ConvertKitā
- š¤ Interview with iJustine!ā
- š§ Music to Help You Feel Less Stressedā
Have A Question and Need a Quick Answer? ā”ļø HMU on Twitterā
My Top 10 Favorite YouTube Toolsš Keyword Research (Tubebuddy) https://tubebuddy.com/awesome ā š¤ Repurposing Content (OpusClip) https://geni.us/getopusclip šµ Music (Epidemic Sound) - https://robertoblake.com/go/epidemicsoundā š Closed Captions (Rev) - https://robertoblake.com/go/revā š¬ Live Streaming App (Streamyard) - https://robertoblake.com/go/streamyardā š Make and Sell Merch (Spreadshop) https://geni.us/getspreadshopā š YouTube Optimization (VidIQ) - https://vidiq.com/robertoā šØ Hire Freelancers and Artists (Fiverr) - https://geni.us/getfiverrā š Learn New Skills (Skillshare) - https://geni.us/getskillshareā š” Get Inspiration from Outlier Viral Videos (1of10) https://geni.us/get1of10comā ā My Favorite Business Toolsš Courses and Membership (Kajabi) - https://kajabi.com/robertoblakeā š© Grow Your Own Email List (ConvertKit) - https://geni.us/convertkitfreeā š Web Hosting and Domains (Bluehost) https://robertoblake.com/bluehostā š° Bookkeeping and Taxes (Bench) https://mbsy.co/DS6S7ā šø HR and Payroll (Gusto). https://robertoblake.com/gustoā ā YOUTUBE FILM GEARšø Budget YouTube Kit https://kit.co/robertoblake/the-budget-youtube-kitā š„ Pro YouTube Kit https://kit.co/robertoblake/the-pro-youtube-kitā š¬ Roberto Blake YouTube Kit https://kit.co/robertoblake/the-roberto-blake-youtube-kitā š¤ Podcast Gear - https://kit.co/robertoblake/the-pro-podcasting-kitā ā ** Creator Tools Mentioned Are Affiliate Links, if you use them I earn a small commission at no additional cost to you |
[Some of the links mentioned are affiliate links and if you purchase with them I receive a small commission at no additional cost to you.]
SUPPORT FOR CREATORS
If you have more questions I respond the fastest over on Twitter, I frequently check Tweets using #AskRoberto and I host Twitter Spaces each week where you can ask questions on different topics.
Ask Me Anything @robertoblakeā
Stay Awesome! -R