YouTube released a report on Tuesday that shows just how influential the creator economy has become.
YouTube says that its creative ecosystem contributed over $55 billion to the US GDP and supported more than 490,000 full time jobs, according to research by Oxford Economics.
When YouTube talks about its creative ecosystem, it’s not just talking about creators. This includes anyone who works with YouTube creators (video editors, assistants, publicists), as well as people who work for creator-oriented companies (Patreon, Spotter, Linktree, etc).
But these figures continue to grow, even in a time when venture capitalists are no longer pouring money into the industry like they were about four years ago.
In 2022, YouTube and Oxford Economics reported that its creative ecosystem about 390,000 jobs and contributed over $35 billion to the US GDP, meaning that these 2024 figures jumped by 100,000 jobs and $20 billion.
These numbers are so large because YouTube provides the most consistent and lucrative opportunities for creators. Those who qualify for YouTube’s Partner Program can earn 55% of revenue earned from ads; even for mid-range creators (not the MrBeasts of the world), that can amount to several thousand dollars a month. While TikTok and YouTube Shorts have tried to monetize their platforms, the industry hasn’t figured out a way to reliably distribute ad revenue among short form creators.
As both a fast-growing and often misunderstood sector, creators have been advocating for American institutions from banks to the government to better serve their industry. Some creators struggle to qualify for business credit cards or get certain business loans, regardless of their demonstrable financial solvency.
These issues have become common enough to draw attention. Just last week, U.S. Representatives Yvette Clark (D-NY) and Beth Van Dune (R-TX) announced their bipartisan Congressional Creators Caucus to support and recognize the potential of the creator economy.