London is a hotspot for high-earning content creators, reveals survey!
A recent study carried out by marketing experts, FATJOE has unveiled London as a prime location for content creators in the high-income bracket. The study, which focused on the gig economy and surveyed 500 individuals in the UK aged between 20 and 54 found that over 10% of the respondents were making £5,000 or more annually. Nottingham and Manchester closely trail behind, with 5% of content creators making £5,000 or more, while Belfast and Norwich, hidden hubs of online talent, have 67% and 60%, respectively, in the middle-income brackets £500 and £999. Southampton has seen an increase in influence, with 17% of content creators earning between £2,000 and £4,999.
The study also revealed that 37% of content creators are ready to sacrifice 20% of their income to pursue a full-time career in content creation, challenging the traditional 9-to-5 job model. Interestingly, 41% of men, in contrast to 33% of women, are willing to take a 20% pay cut to pursue full-time content creation. Notably, individuals aged 25 to 34 are more likely (44%) to opt for a career shift to become full-time content creators. Delving further into the demographics, the research revealed that 52% of respondents proudly identify as content creators. Among them, 17% are podcasters, 23% are bloggers, and 12% are social media content creators. Men play a dominant role, comprising 62% of creators, and women actively contribute at a significant participation rate of 46%.
But this vibrant tapestry of content creation is not without challenges. The potential impact of a UK law targeting side hustles earning £1,000 or more puts content creators on the brink of a tax crunch. Further exploration of income brackets reveals that 27.8% of content creators fall within the scope of this law.
A noteworthy discovery from the research is that women outperform men in this market. A higher percentage of women (37%) earned £500-£999 in the last 12 months, surpassing men (26%). Moreover, at higher earning tiers, women take the lead, with 10% earning £2,000 or more, compared to 8% of their male counterparts.
Commenting on the findings, a spokesperson at FATJOE stated, “This survey sheds light on the transformative role of content creation in the digital age. The willingness of individuals to trade traditional careers for a shot at full-time content creation reflects the evolving nature of work and income streams. The survey captures the pulse of a nation deeply immersed in the art of content creation and raises crucial questions about the future of work and the challenges these creators may face.”
