CULTURE
The Influencer Gig Economy: Redefining Work in the Digital Age
By: Alexa Fabi Edited by: Tessa Reiner
The line between traditional celebrities and influencers has seemingly vanished. Once upon a time, A-listers were plastered on the front page of magazines and starring in Blockbuster movies. Now, it seems like some of the most recognizable figures have emerged from a new avenue of stardom, known as “influencing.” Influencers are known for their curated content where they post perfect selfies, ”get ready with me” videos, and “fit checks.” They are completely reshaping industries, bringing attention to brands, and rapidly growing businesses. Many lust after this lifestyle, but although it seems glamorous, the reality of the job comes with unpredictable income and requires a balancing act between authenticity and entertainment. While these influencers turn their brands into massive empires, they are amidst a new economy where failure is entirely possible and the stakes are higher than a pair of Louboutins. So, what really is an influencer? Are we witnessing a new sustainable career path, or is this hustle just a mere trend that will vanish once we find the next big thing?
Celebrity entrepreneurship is nothing new.The Kardashian-Jenner family used their massive following to build multi-million and billion dollar empires across various industries including fashion, beauty, and lifestyle. An article by Untaylored explains the Kardashian-Jenners “have harnessed the power of personal branding.” Some of their most successful brands include SKIMS, Kylie Cosmetics, 818 Tequila, and Good American. The multiple revenue streams that come from television appearances, social media endorsements, and book deals has solidified the success of their business model.
The Kardashian-Jenners have always capitalized on their fame by creating products that make their fans happy. However, the traditional model of celebrity entrepreneurship is ever-evolving. Today, influencers are taking the entrepreneurial world by storm. While most influencers may not have the same recognition and fame as the Kar-Jenners, they are profiting off of their massive social media following by participating in this new economy: the “Influencer Gig Economy.”
Some of the most successful influencers juggle many different responsibilities, which can be an incredibly impressive undertaking. They have to market themselves, endorse products, and navigate various streams of income such as brand sponsorships, ads, direct sales, the TikTok creator fund, etc. As these influencers have conjured a big following, they become a new source of inspiration, especially for Millenials and Gen Z. The influencer ecosystem is completely redefining entrepreneurship, opening a new avenue of career opportunities for the next generation.
Alix Earle is a prime example of this new wave of entrepreneurship. Earle was a marketing student at the University of Miami, but after several of her TikTok videos gained massive traction, she became the next viral internet sensation. She is mostly known for her “Get Ready With Me” videos that showcase her “party girl” lifestyle. Earle’s job now, essentially, is to produce content that her followers enjoy. She also collaborates with a wide range of brands to endorse their products to her followers, and markets herself so she can earn a commission on her own videos. As she has become internationally famous, she has been granted opportunities to start her own business ventures, such as her podcast called “Hot Mess.” According to Forbes, Earle has an estimated earning of $8 million and an “entrepreneurship score” of 2, on her profile for Top Creators of 2024. Earle is just one example of an influencer’s ability to use their social media success and turn it into a multifaceted business. Her participation in the creator economy is an example of how influencers now possess control over their entrepreneurial success.
According to Goldman Sachs reports, content creators across all platforms, especially TikTok, are generating significant profit. As of April 2023, the influencer economy is worth $250 billion and is expected to nearly double by 2027. This rapid growth proves how powerful social media content creators can be in the business world. The growth of the creator economy is a clear indicator of how the entrepreneurial landscape is shifting quickly and drastically, and a lot of people want to partake in it. IZEA Worldwide, Inc published a study where they found that 64% of social media users would accept payment from brands to endorse their products on social media. They also discovered that 54% of users aged 18-60 would quit their jobs in order to become influencers.
The Covid-19 pandemic propelled many influencers' careers, as people spent an unprecedented amount of time online. This acceleration in the creator economy caused seismic shifts in not only digital marketing but also entire industries. The apparel industry was notably impacted as the pandemic changed consumer behavior and digital content consumption.
In an interview with Forbes in 2021, Lindsay Jerutis, General Manager of ShopStyle Collective, an influencer marketing platform, explained that 29% of adults aged 18-34 believe social media influences their apparel purchases, according to a survey by Prosper Insights & Analytics. The same survey reported that 29% of shoppers are influenced by social media when purchasing electronics. She also mentions how influencers themselves changed during this time, as many people at home saw an opportunity to use monetization as a side gig – the “Gigfluencers.”
In today’s economy, many people are struggling to make ends meet. As of October 2024, only 12,000 jobs were created compared to the 170,000 average since January. The unemployment rate is steady at 4.1%, however the labor force is shrinking and fewer people are looking for work, which is an indication of growing frustration. With this in mind, it makes sense that many Americans would seek a job (such as influencing) that would ensure them livable wages without the monotonous 9 to 5 grind.
So, is influencing really a viable career path for most people? In short, the answer is no. The job of an influencer is not always as fabulous and lucrative as it may seem, as there is a lot of risk involved. In order to create real, sustained success as an influencer, the person must be well-informed, well-liked, and obtain a genuine connection with their audience. Unfortunately, it is up to the audience to decide if they like the creator enough to keep watching their videos.
While becoming an influencer might seem like the perfect escape from today’s grueling and uncertain economy, influencing is also an unstable career path. True success in this field requires hard work, dedication, and a stroke of luck; all factors someone looking for financial stability should consider with caution. However, this does not mean it is impossible. Anyone can make a place for themselves on the internet with some grit and creativity. While taking part in the Influencer Gig Economy might be full of uncertainties, it is also an opportunity for the hustlers looking for a new creative path to tackle.
