Gen Z and Millennials are fueling “the creator economy.” According to an Oxygen survey, more than one-third of Americans have started a new side hustle during the pandemic, and over half of Gen Z and Millennials say they’ve picked up a new passion during the pandemic. Gaming is one of the most popular side hustles for Americans, with social media, music, and art also topping the list of hobbies-turned-side-hustles. Meanwhile, 74% of Gen Z and 82% of Millennials say they would turn their side hustles into full-time businesses. Americans’ full-time gigs are still top of mind, however. Only 20% of respondents say they’re earning enough income to make their passion projects a full-time business, while 41% report that while they’re making some money, their side hustle is not enough to quit their full-time job. Oxygen reports that the creator industry is valued at $100 billion and consists of more than 50 million independent creators, and 93% of Gen Z and 87% of Millennials say they consider themselves a creator / freelancer. (WWD)
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