AIS, partners back 'creator economy'
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AIS, partners back 'creator economy'

Social media scholar takes part in summit

Prof Craig, centre, and Mr Pratthana, fifth from right, pose with leading local creators at the Global Creator Culture Summit event.
Prof Craig, centre, and Mr Pratthana, fifth from right, pose with leading local creators at the Global Creator Culture Summit event.

Advanced Info Service (AIS) and partners have joined forces to support the "creator economy".

Creators contribute to the economic value of industries and drive the development of various services, according to AIS.

This week the company hosted the Global Creator Culture Summit, featuring Prof David Craig, a leading social media scholar from the US.

The event featured numerous speakers exchanging knowledge, inspiration and tips for aspiring creators.

Pratthana Leelapanang, chief consumer business officer at AIS, said content creators are crucial drivers of the economy, society and culture, and serve as focal points for global context changes from every angle.

Prof Craig said creators are influencers who can be primary drivers of the global economy. They have the potential to act as their own brands, community builders online and generate income through various channels such as O2O (online-to-offline) from their own spaces, platforms and other channels.

They also contribute to the economic value of other industries, driving the development of various services and features on mobile phones, which are crucial for the growth of the telecommunications industry. Creators generate revenue on platforms and related ecosystems estimated to be worth US$7 trillion globally, he said.

Prof Craig cited the "Wanghong economy" or internet celebrities in China, who wield significant influence in the online world and have propelled the growth of social commerce dramatically.

In China anyone, even agricultural workers, can become renowned influencers because they are supported to become Wanghong creators, he said.

Prof Craig said social media platforms have evolved to work with creators over the last two decades, though creators now use other applications and platforms to further monetise their communities.

It's not just their ability to harness social media platforms, they do so along with a whole suite of other services that help them become profitable, he said.

Creators are always encouraging people to like, share, comment and engage with their content, which rarely happens in the traditional legacy media industries.

Creators have become vital to traditional media industries, particularly in reality programming. They have been drivers of the gaming industry, said Prof Craig.

Depending on how you do the math, creators have become 50% of the advertising industry, he said.

Creators have become key drivers of mobile phone services and features that are vital to the growth of telecom industries.

Prof Craig said being a creator is hard work, though some have the illusion it is casual, easy and fun every day.

"In fact, every creator we've ever met who has succeeded has dedicated their entire life to this work. It is complicated, challenging and amid enormous amounts of pressure from platforms, advertisers, governments and communities that can affect the ability of creators to have sustainable careers," he said.

Platforms themselves are under constant pressure to change, adapt and compete.

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