- The creator economy is booming, but some creators aren't earning as much as you might think.
- Influencer-marketing platform Mavrck surveyed 689 creators to assess their income earned in 2023.
- Here are 5 takeaways, including how more than 50% earn less than $500 per month.
More than half of creators earn less than $500 per month, according to a new survey.
Earlier this month, the influencer-marketing platform Mavrck released its 2023 Creator Compensation Report, highlighting how much the 689 creators surveyed make in today's changing economic landscape.
Almost half of the creators who participated in Mavrck's study were between 18 to 24 years old. 86.3% of creators identified as female, and a little more than half of the participants were nano and micro influencers, with an online audience ranging from 5,000 to 50,000.
Creators in Mavrck's survey reported an increase in the number of brand deals and the amount of income they earned this year compared to last year. The report found that creators had higher rates for Instagram reels and in-feed posts compared to TikTok videos or YouTube.
Still, though brand deal rates and earnings are on the rise overall, 51% said they were making less than $500 a month from their content, and only 4% reported that they earned more than $10,000 per month.
But looking beyond brand deals can help some creators increase their incomes.
“We're seeing an increase in affiliate revenue as a source of income for creators — it went from 47% in 2021 to 56% in 2023 — and a decrease in sponsored content from 91% in 2021 to 82% in 2023,” said Rachael Cihlar, Mavrck's VP of corporate communications. “I think a big takeaway of this is that for creators to also be successful and for them to continue to establish themselves and make this their full-time career, they need to diversify their revenue sources, too.”