A new report from the Influencer Marketing Factory has revealed that more than 40% of users now tip social media creators $5 to $10 on average in 2023, which marks a significant growth from merely 17% in 2021.
According to the 2023 Creator Economy Report, ByteDance-owned TikTok and Alphabet’s YouTube are the most favorite and money-making platforms for the majority of social media creators that participated in the survey.
The Influencer Marketing Factory also found that the majority of creators earn an annual income of $50,000 to $100,000. However, only 5% of those who 5 million followers or more said that their revenue is more than $1 million per year.
More social media creators now utilize AI
Furthermore, the study also found that more and more social media creators are now using the power of artificial intelligence to help manage their accounts and create new content. Nearly 1 in 5 participants said that they utilize AI to edit their content, generate images/videos, and text/captions for accessibility.
Other uses of AI cited by the participants include brainstorming content ideas, outlining emails, and designing graphics.
You can check out the Influencer Marketing Factory’s new report for more details.