Asia and Oceana Creator Economy Market is Estimated To Witness High Growth Owing To Rising Popularity of Social Media Platforms

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Asia and Oceana Creator Economy Market is Estimated To Witness High Growth Owing To Rising Popularity of Social Media Platforms
Asia and Oceana Creator Economy Market

The Asia and Oceana Creator Economy Market is estimated to be valued at US$ 135.20 billion in 2022 and is expected to exhibit a CAGR of 30% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The Asia and Oceana creator economy market comprises various social media platforms that allow content creators to generate revenue through video content, podcasts, blogs and more. These platforms offer monetization options like subscriptions, ad-shares, tipping and others for creators to financially sustain themselves by building audiences. The rising popularity of social media influencers and content creators across the Asia and Oceana region is driving the demand for these platforms.

Market key trends:
The growing popularity of short-form video content like TikTok reels, Instagram stories and Kuaishou videos among younger audiences in the region is a major trend contributing to the market growth. According to the report, short video apps had over 800 million monthly active users globally in 2021. The easy monetization of short-form videos through tipping and subscriptions is encouraging more content creators to join these platforms. Furthermore, the increasing availability of digital payment options is enabling direct monetization and growing the Asia and Oceana creator economy market substantially over the forecast period.

Porter’s Analysis

Threat of new entrants: New entrants face high initial investments and established brand loyalty of existing players in the market. Bargaining power of buyers: Individual content creators have low bargaining power against large platforms due to lack of alternate distribution channels. Bargaining power of suppliers: Popular content creators have some bargaining power due to their audience base and first mover advantage. Threat of new substitutes: Alternative platforms and monetization models pose threat of substitution. Competitive rivalry: Intense competition between established players to attract and retain content creators and their audience.

SWOT Analysis

Strengths: Large user base and popularity of platforms like ByteDance, Kuaishou. Weaknesses: Reliance on few dominant players, vulnerability to regulatory changes. Opportunities: Growth in smartphone and internet penetration. Emergence of new content genres and monetization models. Threats: Stringent data privacy laws. Decline in overall time spent on creator platforms.

Key Takeaways

The Asia and Oceania Creator Economy Market Share is expected to grow at an exponential CAGR of 30% over the forecast period, driven by increasing smartphone and internet penetration in the region. China and India are the fastest growing markets due to their large population and rising middle class. The Chinese creator economy is projected to reach US$109 billion by 2030, driven by platforms such as ByteDance, Kuaishou and Bilibili.

Key players operating in the Asia and Oceania creator economy market are ByteDance (TikTok, Douyin), Kuaishou, Bilibili, Tencent (WeChat, Tencent Video), Alibaba (Taobao, Weibo), Meta (Facebook,Instagram), YouTube, Twitch, OnlyFans, Patreon, Substack, Kickstarter, Indiegogo, Disco, Cameo. Intense competition is seen between players to acquire popular content creators through offerings such as equity stakes, revenue sharing models and exclusive content arrangements.

Read more @ https://www.insightprobing.com/emergence-of-creator-entrepreneurship-in-asia-and-oceana-creator-economy-market-growth/

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