America’s youngest workers want to become business owners, but not in the way their parents might imagine. The impetus for turn social media posts into sustainable income it’s higher among the younger generation of workers, according to new research from Adobe Inc.
About 45% of the creators of the Generation Z Respondents said they aspired to own their own business and earn money by sharing content online. according to the company’s May survey of more than 9,000 influencers and creators in nine countries.
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Adobe defines creators as those who post social content with the intent of increasing their online presence or promoting their creative work, from photography to music to NFTs. The influencers surveyed reported over 5,000 followers on their main social media platform and earn money by posting content.
Gen Z content creators and influencers are part of the wave of entrepreneurship which has accompanied the reorganization of the labor market over the past two years.
While many Americans launched businesses during the pandemic shutdown out of necessity, the streak continued, fueled by a desire for flexibility and greater control over one’s financial future.
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A record 5.4 million new businesses were started in the United States last year, according to census data. While the monthly rate stabilized below its 2021 high, it remained well above pre-pandemic levels.
What are the experts saying?
While there has been a lot of speculation as to whether this increase in small business creation was an aberration or the start of a long-term reversal, “what we’re seeing is that this trend doesn’t show no signs of slowing down,” said economist Luke Pardue. on the Gusto payroll service platform. Changing dynamics are partly generationalsaid.
“Particularly among young workers, we find that workers tend not to see wage gains that follow inflation, so they go into self-employment where they can determine their pay a bit. more independent,” Pardue said.
Why Gen Z’s Dream Jobs Are So Different From Millennials As millennials experiment with extra business alongside a day job, Generation Z is more focused on turning a project into a career, said Maria Yap, vice president of digital imaging applications at Adobe. . “They think, no, my regular job could be anything I’m passionate about.”
In fact, some universities, such as Duke University, University of Southern California, and University of Virginia, have responded to the changing demand by offering courses on building successful social media businesses. . Universities are launching TikTok courses for influencers who earn $5,000 per post.
Adobe research suggests that moving from enterprise scale to the Instagram grid can generate a six-figure income if done full-time, although the reality is often more complicated.
Is content creation a dream job?
Creators who monetize content earn an average of $61 per hour, according to Adobe. If that’s done 40 hours a week, Adobe estimates that would translate to an annual income of $122,000.
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Influencers surveyed by Adobe earn $81 per hour, which would translate to about $162,000 if they were doing it full-time. However, the lines are often blurred between hobbyists and scammers, and most of the people Adobe interviewed don’t work full-time.
Content creators spend an average of nine hours a week and influencers spend an average of 15 hours per week creating content.
In the United States, six in 10 creators have full-time jobs, Adobe found. If the creators were to quit their day jobs, it’s unclear if they could generate enough business to fill a 40-hour work week.
The public perception will only serve the creators of content and the influential people with more than 10,000 seguidores obtain significant inputs, pero esto está lejos de la realidad, dijo Qianna Smith Bruneteau, fundadora del American Influencer Council, una asociación commercial para professional de contention de social networks.
Of those who create content full-time, only about 12% earn more than $50,000 a year, according to a global survey of more than 9,500 content creators published in April by Linktree, a link-sharing platform popular with influencers. . The living wage in Manhattan is nearly $53,000, according to MIT’s Living Wage Calculator.
While some creators and influencers stumble on success, for others it can take countless hours of hard work without pay to build a following, according to Bruneteau. “Producing content every day, in an environment where video takes precedence, takes a lot of work,” he said. This can mean years of free content before a creator.