The Asia and Oceania creator economy market comprises various platforms and services that support and enable individuals in creative fields such as design, art, photography, writing, music and more to earn an income through monetizing their creative works. Some key products and services in this market include social publishing platforms, creator monetization tools, subscription services and patron platforms. The growing adoption of digital technologies and rising internet penetration in the region have enabled the emergence of several creator platforms, giving independent professionals opportunities to showcase and monetize their creative works.
The Global Asia and Oceania Creator Economy Market is estimated to be valued at US$ 29.9 Bn in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Asia and Oceania creator economy are Nippon Steel Corporation, Thyssenkrupp AG, ArcelorMittal, Tata Steel, Outokumpu Oyj, Aperam, VDM Metals GmbH, Jindal Stainless Limited, Allegheny Technologies Incorporated, Ulbrich Stainless Steels & Special Metals, Inc., Carpenter Technology Corporation, Nucor Corporation, Daido Steel Co., Ltd., Sandvik AB, Elgiloy Specialty Metals. Key opportunities in the market include growing demand for digital art, photography, music and other creative works due to rising popularity of social media platforms. There is also an opportunity to provide new monetization tools and services to help creators generate more recurring revenue streams.
The Asia and Oceania Creator Economy Market Demand is witnessing substantial global expansion backed by growing investments in emerging countries of the region by major creator platforms. Several startups are also entering the market and launching new platforms tailored to the creative communities in Asia. Countries like China, India, Indonesia, Thailand and others present massive potential for creator economy platforms given their large and growing internet user bases and burgeoning creative industries.
Market Drivers
The key driver for the Asia and Oceania creator economy market is the growing adoption of digital technologies across the region. Countries in Asia and Oceania are witnessing rising internet and smartphone penetration rates which has enabled creators to access global audiences online. The proliferation of high-speed internet and availability of affordable smartphones has made it possible for independent artists, designers, writers and others to digitize and share their works over various social media and creator platforms. This has boosted the creator economy in Asia and Oceania significantly.
PEST Analysis
Political: The creator economy market in Asia and Oceania faces uncertainties due to changing political dynamics and policies across countries. Different countries have varying laws around intellectual property, taxation of digital income and the overall regulatory environment for digital services.
Economic: Factors like economic growth rates, disposable income levels, consumer spending habits influence the spending power of individuals and their propensity to invest in creator services. The region has enjoyed relatively higher growth compared to developed markets.
Social: Younger demographics with higher digital access and affinity are driving the creator culture. As internet and mobile penetration increases across the region, more people will join the emerging creator community and participate in the sharing economy.
Technological: Advancements like digital payments, online content creation and distribution platforms have helped lower the entry barriers for individuals to become producers and distributers of digital content and services. Continued tech innovations will spur new business opportunities.
In terms of value, the market in Asia is concentrated in larger economies with vibrant internet audiences like China, Japan, South Korea and India. These countries collectively accounted for over 70% share of the regional market in 2024.
Southeast Asian countries like Indonesia, Thailand and Vietnam have emerged as fastest growing creator economies due to the combination of factors like large populations of young internet users, rapid digital infrastructure development and adoption of online platforms. The surging use of short-form video and live streaming in these nations is a major driver of spending on creator services.
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