The article missed the massive increase in work for creatives that's happened over the last 10 years. Being a influencer. 3.2M people earned more than $100,000 last year being a influencer, the combined earnings are between probably $25-50B in the US.
You really need to factor them in and their earnings in any discussion like this. It's still smaller than consumer spending on this stuff was before but it's the growing part.
How did you arrive at the 3.2 million people + 100K figure?
Taking the low end of “more than $100K” as being exactly $100K, 3.2M people earning $100K/yr each is $320B/yr and many earn way more than $100K, obviously.
I think either your $50B/yr in the US figure is low (would mean less than 1 in 6 dollars is earned in the US) or, I think more likely, your 3.2M figure is too high.
Where did you source the 3.2M figure?
> many earn way more than $100K, obviously.
Many seems unlikely. Influencer income follows a Pareto distribution so you would expect that most influencers who make more than 100k a year earn close to that.
Don't we primarily rely on trickle down economics.
What percentage of the earnings of influencers flows back into the economy as part of production costs instead of small percentage as spending or sitting as wealth in banks.
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