Making Money During The Pandemic: How COVID-19 Is Leading A New Wave Of Creativity

In the midst of a global lockdown, a new wave of creators have emerged to put what has been coined the “creator economy”, front and center. The creator economy encompasses everything from professional creatives to first-time creators that are producing content as both a coping mechanism and strategic business play.

This content often comes in the form of videos, photography, writing, e-commerce, and online education. In mid-March, ed-tech platform Teachable was acquired for $250 million after seeing user growth explode and over 100 creators reaching the $1 million sales mark. Similar statistics have been reported by Shopify, which saw subscription revenue growth jump 34%.

Looking at the trend, it seems clear why this is happening: people are unable to travel right now and are confined to their homes and local communities. With time saved from not having to commute and remote work schedules, people are leveraging this time to advance their personal brands and projects. In many cases, this creative wave is being utilized to help assist COVID-19 efforts.

Viola Ogbunude, CEO of Body Organics, a manufacturer & retailer of nature based skincare products, has leveraged this time to build a deeper connection with customers. Ogbunude explains, “We have found that maintaining or improving a skincare routine during quarantine is cited as a source of happiness for many people. These are trying times for a lot of our clients and we have used this as a great opportunity to connect with our content developers to build content around this theme as well as double down on our customer service and offer more people the chance to become licensed resellers.”

The Implications of Mass Content Creation

One common theme during the pandemic has been the realization that unforeseen macro events can drastically derail someone’s plans and goals. In the US, unemployment has reached 36.5 million people. This has been a wakeup call for some people that now want to explore ways of creating income by themselves or through their personal brands.

It is important to note that gig economy contractors have been severely impacted during the lockdown as they can’t legally work. The gig economy should rebound as the lockdown eases. For aspiring entrepreneurs, this time has been a source of validation that they can create content that is monetizable and could be one day sustainable.

Matt Par, a 19-year-old YouTuber, has amassed over 1 million subscribers on 9 different YouTube channels. Out of these 9, Par is only visible on one and hires a team to produce content on the other channels. After finding success, Par’s focus has turned to helping other content creators get on YouTube and develop a strategy that can be monetizable.

Par says, “YouTube is still one of the best platforms for new creators and has low barriers to entry if you know how to maneuver it. Now is probably the best time in the last decade to get on YouTube and start building an audience. Your audience is your capital.”

With more content production means more choices and varying levels of quality. For some companies, utilizing their business income to create professional content has been one of their most important decisions.

Content Creation to Help Other People

One interesting trend that has emerged is more selfless content production that focuses more on adding value than what could be considered selfish pursuits. COVID-19 has unified people around the world as a shared common experience. People are turning to others for help and businesses are responding.

Julian Jewel Jeyaraj, founder of JJAIBOT, a company that has developed an app that uses CT scans to detect COVID-19 with 99% accuracy, has seen an uptick in interest across the board. Jeyeraj says, “This has been a wake up call for people and companies to become less selfless and this is being reflected in popular content and advertising campaigns. This helps our cause and we are excited to see this trend.”

It has also been found that more consumers and businesses are improving their sustainability practices during the lockdown. From being more conscious about waste to water conservation, the movement across social media channels has been evident.

Elaine Hau, an influencer and founder and CEO of Luxury Fashion Rentals, launched her business just as the pandemic was spreading. The company, which allows luxury goods to be rented and experienced, has integrated sustainable practices such as using reusable boxes. Hau says, “Our business model gives consumers more access to luxury handbags and it’s helping to extend the shelf life of luxury goods and reducing waste that happens within fast fashion.”

What is Next for Content Creators

The creator economy movement has proven that content really is an unstoppable force. When in doubt, creativity and consistency can help better people’s lives. As AI and VR become more prevalent, travel and consumer experiences will be completely different.

Mervik Haums, founder of Startup Fortune, a digital media publication that highlights technology trends and connects startup communities globally, expects content experiences to become more immersive as AI and VR become more common. Haums describes, “Based on the data and content we have seen, creators are now thinking about the future and how that looks. For many, this means interactive and immersive experiences that put you in new realms”.

Another growing trend is content marketing and there are various tools to help businesses produce and distribute content. One company, AmpiFire, is doing just this. As the world’s first content amplification platform it uses in-house experts and software to advertise businesses on popular sites online.

AmpiFire´s founder Chris Munch describes, “With people in lockdown it’s driven a big increase in internet traffic, and it's now more important than ever for businesses to be highly visible online. We’ve seen a major uptick in e-commerce and even local businesses turning to experts to automate their content needs.” This trend should continue in the future.