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| Asia And Oceana Creator Economy Market Demand |
The Asia and Oceana creator economy market is estimated to be valued at US$ 135.20 Bn or Mn in 2023 and is
expected to exhibit a CAGR of 30. % over the forecast period 2023 to 2030, as
highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Asia and Oceana creator economy market involves various individuals and
businesses that generate and distribute online content through social media
platforms and websites to earn income. This includes content creators
generating video, audio, blogs, online courses and other forms of media on
platforms such as YouTube, Instagram, TikTok and more. It also incorporates
patronage platforms that allow fans and followers to directly support and
invest in their favorite creators.
Market Dynamics:
Increased social media usage- With rising smartphone and internet penetration
in Asia and Oceania, usage of social media platforms has grown exponentially
over the past few years. Countries like India, Indonesia, Philippines and
others have emerged as some of the largest and fastest growing social media
markets globally. This widespread adoption of social networking provides ample
opportunities for content creators to build audiences and monetize their
influence.
High demand for online content- Along with social media growth, there is
significant demand for entertaining, informative and engaging video, audio and
written content online. Content creators are fulfilling this demand by
generating blogs, podcasts, tutorials, comedy/talk shows and more. This acts as
a key driver for the creator economy market in the region.
(SWOT Analysis)
Strength: The Asia
And Oceana Creator Economy Market Demand has a large potential consumer
base as the region is home to over 4 billion people. The adoption of
smartphones and high-speed internet in the region has boosted the growth of
this market. Many platforms in the region offer local language support which
enhances user experience.
Weakness: Lack of structured regulations and policies around content
monetization and copyright issues poses challenges. Infrastructure constraints
in rural areas limits the reach of some platforms.
Opportunity: Rising interest among youth to build careers as social media
influencers and content creators will drive future growth. Live streaming and
interactive experiences will see increased popularity. Cross-platform
collaborations provide an avenue to engage varied audiences.
Threats: Stricter data privacy laws may impact targeted advertising. Incumbent
platforms face competition from regional startups with localized strategies.
Change in consumer trends or emergence of new technologies can disrupt the
existing business models.
Key Takeaways
The global Asia and Oceana creator economy market is expected to witness high
growth, exhibiting CAGR of 30.% over the forecast period, due to increasing
smart device penetration and affordable internet access. The number of mobile
internet users in Asia-Pacific is projected to reach 3.9 billion by 2030.
Regional analysis:
The Asia Pacific region currently dominates the market, accounting for over 60%
share. China has emerged as the global leader in the creator economy with
platforms like TikTok, Kuaishou and Bilibili receiving widespread popularity.
Live-streaming and interactive services have also boosted the market in
Southeast Asia, with Indonesia presenting lucrative opportunities.
Key players operating in the Asia and Oceana 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. Large
technology firms have extensively invested in both established and new
platforms to engage users and help monetize creators' work. Partnerships
between regional players and global giants will further accelerate growth.