The Secrets of Six Figure Creators in 2024
If you’ve been wondering about the possibilities and secrets for online creators in 2024, you should check out the latest report by Kajabi.
Most of this doesn’t surprise me and it echoes many of my recent thoughts I've written which you can see below.
James Dalman
James Dalman
What really stood out was this:
Creators are fighting a losing battle with algorithms designed to keep users glued on the platform, not share the wealth. While social media giants rake in the ad dollars, creators are left feeding the algorithms 24/7. They’re chasing virality and competing for brand deals, but it’s not paying off.
This certainly proves my point as it relates to writing on Medium and other platforms that we don’t own. It’s why I keep saying to diversify and not place your trust in one technology.
What is interesting and shocking is the percentage of creators (70%) generating revenues from online courses, especially given how saturated and watered down the industry has become the past five years.
While the report states the top revenue driving product for six figure creators is online courses, I stand by my advice and opinions on this topic.
James Dalman
Even though it may be a large revenue source for creators, the amount of creators who achieve success in these pursuits will be a lot lower.
Another interesting statistic is how creators are now using AI to generate content and build their digital products. 43% of those people interviewed use AI on a weekly basis.
Honestly I don’t know how I feel about this because in some ways it feels like it’s cheating or misleading, but then profits should often come over principles, especially when you’re struggling to survive.
In my last post I used two AI generators for the first time ever and I was actually impressed for this initial trial run. Yet it also made me sad thinking about how many talented illustrators or artists will likely become obsolete.
Perhaps the statistic that made me smile was those creators who earn $150,000 or more have at least five revenue streams. But it’s not because of their drive to run multiple businesses.
Rather it validates my own desire/sickness to always be creating new business ventures to keep money coming in AND shows me it’s possible to maintain multiple ventures as a solopreneur. Obviously now I’m not the only crazy person who thinks this way.
Finally I will agree whole heartedly most platforms need to win back our trust if we are going to keep investing in them.
We spend a lot of time and money to grow their profits while reducing our own. Medium for example, benefits more from our publishing than we benefit from their system, and it’s important to remember that. So often we get lost in the success stories written without realizing the true cost for it.
That’s my thoughts for now.
You can read the entire study here. I’d love to know what you think so please jump in the convo and share.
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