Creator Economy is the class of businesses that is created by millions of independent content generators, community builders, and bloggers. The rise of this frugality feels like a new golden age. Creativity has no way come this profitable ever ahead.
Record-breaking over $1B in the capital has formerly been invested into Creator Economy startups since Oct 2020, with the market size at present estimated to be around $104.2 billion. These numbers reveal that the Creator Economy is no longer seen as a borderline miracle but rather a growing force. Entrepreneurs are seeing this as the upcoming coming big thing and are formerly chancing ways to work the request for profit.
Existing Platform generally charges nearly a Software-As-A-Service figure plus a take rate on every income of creator. While the platforms may have established analytics and reporting capabilities, the strike is that brands generally will not get access to the largest influencers as those generally only work with agencies.
From content generators, fashion bloggers to live-streaming gamers. Indeed, companies calculate currently on similar content generators for content. And a big yes! Creativity has no way come this profitable ever ahead.
Platforms like Patreon, only fans, etc. do give subscription services for content Creators to monetize but they charge significant money from these influencers. To give easy discovery of creators and help creators and influencers monetize content from Day 1 Indian Startup Knackit has handled this problem differently.
This Indian startup Knackit has provided solution that the creators were facing for years. Knackit just an 18 months old company has seen tremendous growth by acquiring over a million users using the platform and monetizing content.
Knackit is India’s First Subscription Service Platform for content creators and Influencers. People from social platforms are coming on Knackit to monetize the content that they've been sharing for free until now.
Presently, Knackit has more than 200k creators onboard and over 1.2 million users actively using the platform.
The platform allows creators to share recorded sessions, videos, do live classes, teach, and make exciting content material across painting, singing, photography, and dance, amongst other categories.
With Creators as Businesses Knackit provides various ways for creators to directly benefit from fans.
With subscription packs as low as Rs 10 per month allows users to subscribe to their creators and get access to exclusive content. This allows creators to have consistent and recurring income on monthly basis.
Rather than establishing a recurring contribution to the creator, users can additionally make one-time donations, which is much lower friction for fans to get involved. Knackit lets creators arrive at their greatest audience by not needing upfront payment, while still offering a way for fans to voluntarily sustain the creator financially. Several larger social networks additionally offer ways to tip creators, mainly during live streams, in swapping for shout-outs from their celebrated streamers or special badges and included visibility to other fans. This “economy of recognition” can let creators focus on fabrication niche content material constructed to get their greatest fans to pay, and is helpful for platforms as they can win a cut while attracting creators without much work.
Knackit has emerged as a leading Subscription Service platform for Creators in Indian Market in recent times. The company raised a seed round of over USD 150K in June 2021, led by Jyoti Bansal.
Commenting on the tremendous growth, Founder & CEO Pranjal, said: “The current offerings of the platform are just the genesis of this startup, and eventually, we would like to supply a range of services as a go-to platform for all the artists and assist them in taking steps towards spinning their passion into the profession.”
Knackit is becoming a go-to platform for Content Creators mainly from Instagram and YouTube looking to earn from their recorded or live streaming content. Some of the top-notch creators are earning Rs 1.2 Lakhs per month on regular basis.
Knackit is backed by well-known people in the industry. Jyoti Bansal (Serial Entrepreneur, Founder & CEO of Unusual Ventures, Harness and AppDynamics). Jyoti lead the Seed Investment in Knackit. Naresh Agarwal India Head of Traceable ai, VP of Inmobie is part of Advisory board at Knackit.