How FinTech is Empowering the Creator Economy

As technology rapidly expands across global boundaries, one can find an interesting new phenomenon taking shape across the world, i.e., the emergence of a parallel online economy. This phenomenon is powered by the increasing access of the people to the internet, which has created the largest global consumer base in the history of the world. Simultaneously, it has also created an ideal opportunity for creators from various spheres to seek out a livelihood in this emerging online economy. The scope of the endless possibilities that the online world opens up can be gauged from the very fact that with a total market of 50 million content creators, the creator economy is anticipated to be pegged at north of $100 Billion.

Empowering the Indian Creator Economy

The introduction of affordable mobiles plays a major role in empowering the content creators irrespective of their economic status. So, the phenomenon is more significant in emerging markets like India, where Youtube’s creator ecosystem alone contributed over Rs. 6,800 Crores to the Indian economy and has supported 6.83 lakh full-time jobs. This is only a part of the rapidly expanding 15 million Indian workforces that thrives on a freelance gig economy that is expected to reach $445 Billion by 2024. Thus, this is indeed an economy that cannot be taken lightly, and Fin-Tech developers have quickly come out with innovative solutions for content creators to be able to manage their finances efficiently.