How the Creator Economy Spreads (and Doesn’t Spread) the Wealth with Ben Schoeffler

The Future Belongs to Creators

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3y ago 28:02

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According to a recent Wall Street Journal article, the top one percent of streamers on Twitch earn more than half of all revenue generated on the site. Does this surprise you? Discourage you as an emerging creator? Or does it inspire you to stay the course and keep hustling until you find yourself in that top one percent?

In this episode, Haley, Miguel, and guest Ben Schoeffler, a content creator and Support Operations Lead at ConvertKit, discuss their viewpoints on the creator economy and the opportunities and restrictions all creators face when it comes to earning money and truly owning an audience.

Whether you’re an all-in creator or stay true to the side hustle, you can flourish in the creator economy, or at least boost your chances of reaping the financial benefits.

“Whatever side hustle you feel like doing, make sure it’s something that you enjoy, because there’s a good chance, a very good chance, you won’t make very much money at all.” ~ @BenSchoeffler

Main takeaways

[06:59] It’s important to own your audience outside of the various platforms so that you aren’t relying on a handful of apps for financial support.
[08:27] Aside from owning your audience, it’s also important to diversify your income streams. If one platform dies, that shouldn’t derail your entire business model.
[12:19] Although many creators aren’t making a full-time income, it’s important not to discount the significance of earning cash on the side every month, even in small amounts.
[18:52] Making money and becoming business savvy are skill sets many creators lack, but you must learn how to sell your creativity while continuing to create if you plan to grow your side hustle.
[21:29] No matter where you are in your creator career, it’s important to stay the course. Avoid the urge to constantly bounce from one specialty to another, and stay consistent in producing the work you do best. The highest earning creators on Twitch are the ones who stayed the course.

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