Technology Media Global has just published a comprehensive report on the "Creator Economy" in sub-Saharan Africa.
The term "Creator Economy" or "influencer marketing economy" refers to all businesses founded by independent content creators who use social media, blogs, and videos to share their work and reach their audience. This activity is facilitated by tools and software that enable content creators and influencers to generate income from their creations.
This report places a specific focus on Africa and concentrates on six key sectors: fashion and lifestyle, finance, technology, entertainment, food, and health and wellness.
It describes the current state of the ecosystem of African creators/influencers, their socio-demographic characteristics, but also their challenges, dreams, and aspirations.
It also details the components of the ecosystem: Internet access, social media platforms, creative tools, and payment infrastructure.
And concludes with recommendations tailored to three key segments: the creators themselves, policymakers, and finally brands and investors.
A rapidly growing ecosystem
The creator economy is booming in Africa. Valued at approximately $3.08 billion in 2023, it is expected to reach $17.84 billion by 2030, with a projected annual growth rate of 28.5%.
African content creators/influencers are young (96% are between 18 and 34 years old), have a small number of followers (87% have fewer than 10,000 followers), have been working in this field for less than three years, and most earn less than $60 per month.
That is why the report concludes with a series of useful tips for young content creators/influencers.
Tip #1: Specialize and choose niches: it is best to focus on developing expertise in a specific area to stand out.
Tip #2: Diversify content formats: Mix short content for discovery with long content for deeper engagement. Experiment with podcasts, live streams, and longer YouTube videos.
Tip #3: Build direct relationships with fans: Explore ways to move your most loyal fans from social media to your own platforms. Consider developing a website, app, or using tools such as Substack for more control and deeper relationships with fans.
Tip #4: Collaborate across multiple platforms: Participate in cross-platform promotions and collaborations to expand your reach and connect with new audiences.
Tip #5: Improve your AI and new technology skills: Learn how to use AI-based tools for content production and editing to improve efficiency and creativity.
Tip #6: Explore AR/VR content creation: As immersive technologies develop, consider how you can integrate AR/VR elements into your content to offer unique experiences to your audience.
To access the full report in English, click here.