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.”
Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.