- New research by global creator agency, Billion Dollar Boy, reveals a growing number of creator entrepreneurs, with nine in ten creators having launched a product or service fuelled by huge consumer demand
- Findings reveal a groundswell of brand interest in creator entrepreneurs with more than nine in ten marketers planning on launching a co-created product or service with a creator
- Announcement of the research follows the launch of FiveTwoNine, a Billion Dollar Boy founded creator entrepreneurs membership community and global platform
London, UK, 17th October 2024 – New independent research by global creator agency, Billion Dollar Boy, reveals a rise in creator entrepreneurs fuelled by growing consumer demand with two thirds (65%) of consumers buying creator-founded products and services.
The research, which canvassed the opinions of more than 4,000 consumers, 500 marketers and 500 content creators across the US and UK, found that the vast majority of creators (88%) had already launched a product or service, with even more (93%) considering a launch within the next 12 months.
The findings show how the popularity of creator entrepreneurs is distorting the market, with consumers more likely (27%) to buy creator-founded products and services than those of traditional brands (24%).
US consumers are particularly likely (71%) to have bought a creator founded product or service, compared to UK consumers (58%). While consumption of creator-founded products and services also increases among younger consumers – rising to 91% of 16-24 year olds, 84% of 25-34 year olds and 74% of 35-44 year olds.
Rising brand interest in creator entrepreneurs
The growing popularity of creator-founded products and services has fuelled brand interest, with almost every marketer (93%) having launched a co-created product or service with a creator – rising to 98% of US marketers compared with 86% of UK marketers.
The research highlights the most lucrative sectors for marketers and creators to launch a co-created product or service in. With one in five consumers (21%) having purchased a creator-founded product or service in Food & Drink, it is the most popular category, followed by: Fashion (17%); Skincare (12%), Make-up (14%), Haircare (14%), Technology (12%); Accessories (12%); Sports and Fitness (12%); Healthcare (11%); Alcohol (9%); Digital Products or Services (8%); Finance (8%); Homeware (8%); Literature (6%).
FiveTwoNine officially launches to support creators with challenges of launching products and services
Despite the popularity of creator entrepreneurs, the research reveals the obstacles creators face when launching their own product or service:
The research follows the launch of new membership community, FiveTwoNine, by Billion Dollar Boy in April 2024. FiveTwoNine operates as a global platform providing educational resources and as physical spaces for key stakeholders in the creator economy to network and collaborate – all designed to accelerate the growth of emerging creators’ careers and enhance brand partnerships. You can find more information here.
Becky Owen, Global Head of FiveTwoNine and Global CMO of Billion Dollar Boy, comments:
“As we shift increasingly towards digital and, in particular, social media platforms, our changing behaviours are democratising influence. Power is increasingly transferring from mainstream brands that have enjoyed a monopoly on industries for years to individuals who are powered by growing online fanbases.
“Brands simply cannot capture what creators have: the ability to build trust and connect with communities on a human level. That’s a compelling prospect for many consumers who, at the same time, have become increasingly accustomed to online shopping and social commerce. It’s empowering creators to launch their own products and services, transforming the creator economy into a breeding ground for the next-generation of SMBs.
“Yet despite the huge consumer demand, becoming a creator entrepreneur isn’t straightforward. Creators already have to wear many hats – acting effectively as a business owner and content production house. Launching your own product or service on top of those responsibilities can be a daunting prospect.
“FiveTwoNine is our answer to supporting creators through those challenges with tailored advice making successful entrepreneurialism a more accessible reality for a wider range of creators. If we can successfully nurture and support these new and potential creator entrepreneurs, there are huge growth opportunities for brands and the UK economy, with benefits also for consumers to enjoy more choice and connect on a deeper level with their favourite creators.”
Research methodology
Between 24th May – 3rd June 2024, Censuswide was commissioned by Billion Dollar Boy to execute a study of 4,008 nationally representative consumers (aged 16+), 508 content creators and 511 senior marketers and brand managers in the UK and US. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles.
About Billion Dollar Boy
Billion Dollar Boy (BDB) is a global creator agency, using industry-leading tech solutions to deliver integrated, creator-led advertising and end-to-end campaign management.
Founded in 2014 by Edward East, alongside co-founders Thomas Walters and Permele Doyle, Billion Dollar Boy was among the first global influencer agencies and now has offices in London, New York and New Orleans.
Since its inception, BDB has partnered with some of the world’s leading brands – including Heineken, King, Nintendo, PepsiCo and L’Oréal – connecting them with more than 10,000 vetted content creators.
BDB client campaigns have been awarded at the Cannes Lions, Influencer Marketing Awards, Webby Awards, Shortys, The Drum Awards and Adweek.
About FiveTwoNine
FiveTwoNine is a global platform with local spaces, made to support the business side of being a content creator. The private membership community provides educational resources, physical spaces for collaborations, filming podcasts, events to enhance industry knowledge, and a way to connect creators and brands.
The name ‘FiveTwoNine’ represents those early morning or late night hours that many creators dedicate to pursuing their passions outside of their traditional 9-to-5 jobs. The goal of FiveTwoNine is to empower these creators to turn these hours into their primary source of income by equipping them with the necessary support and resources needed to build and grow their creator careers.
About Lipton
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