Thread by @ryangum

In 2020:

∙ 56 Teachable creators made over $1M.
∙ 10 Patreon creators made over $1M (est).
∙ 10 Substack writers collectively made over $10M.
∙ 8 Gumroad creators made over $1M.
∙ 8 Twitch streamers made over $1M (est).

What's their secret? 🧵👇

At this level, almost no one is doing it alone. They’re supported by YouTube editors & writers, podcast producers, online course coaches, agents that find and negotiate brand sponsorship deals, and assistants.

These are the people behind the growth of many successful creators.

Leverage makes the creator economy unique. Individuals can reach wider audiences more than ever before. But while creators run businesses with atypical leverage, they still have typical business needs.

On that note, what about the rest of the back office?
Supporting functions like invoicing, bookkeeping, taxes, customer management, employee management, payroll, finances, and contract management.

None of this really mattered 5 years ago, but we've got creators earning over 10 million dollars now. They need supporting infrastructure to help scale.

This is the wider creator economy ecosystem, and it's the path to a creator economy middle class.

In that sense, the creator economy is no different than any other industry: most businesses fail, some make enough to achieve a sustainable income, and a few are successful enough to hire a team.

As the creator economy matures, we'll see more downstream jobs and services emerge. I wouldn't be surprised to see creator-focused service marketplaces soon — if there aren't some already.

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