TLDR:
- Business Insider is seeking nominations for the top VCs funding startups in the creator economy for 2024.
- Creator startups operate with fewer costs than traditional media brands, allowing them to test new business models with limited financial risk.
Business Insider is compiling its fifth annual list of VCs funding startups in the creator economy for 2024. The creator economy is a new investment category that has emerged with the rise of social media and the empowerment of individuals as content creators. These startups often rely on Big Tech platforms like Google and Facebook to make money, which can be a volatile position. Some startups have struggled in the past year, cutting costs or shutting down, while others continue to raise capital and grow.
Creator startups often operate with fewer costs compared to traditional media brands, allowing them to test new business models with limited financial risk. For example, Fallen Media, a New York media studio, produces MTV-style shows for the TikTok consumer audience, keeping production costs low to test different shows quickly. Companies that use creators to make money in different industries, like e-commerce or consumer products, are often better positioned to succeed than those who rely heavily on influencers as the core of their business.
A new wave of startups is focusing on community-building apps rather than the influencer phenomenon. Venture capital firms like Daybreak are backing companies in the creator economy that are expected to shape the industry’s growth in the coming months. Business Insider is seeking nominations for these top VCs funding creator economy startups in 2024, inviting submissions through a form on their website.
