Congressional Creators Caucus Launches to Support Creator Economy
A bipartisan Congressional Creators Caucus, spearheaded by Representatives Yvette Clarke (D-NY) and Beth Van Duyne (R-TX), has officially launched. This caucus aims to support and advocate for the burgeoning creator economy.
The creator economy has rapidly grown, with YouTube's ecosystem alone contributing to over 390,000 full-time equivalent jobs in 2022, according to Oxford Economics. Goldman Sachs projects the creator economy could be worth half a trillion dollars by 2027.
Addressing the Needs of Creators
Currently, the U.S. government lacks comprehensive regulatory oversight and understanding of the creator economy. This poses challenges for creator businesses.
As digital content creators’ online presence continues to reach billions globally, Congress must work to ensure resources and protections are in place to support their success in this new era of start-ups,” said Representative Clarke.
Matthew and Stephanie Patrick, founders of Theorist Media, have been actively lobbying for creators' needs. They emphasize that creators are small business owners requiring appropriate tax codes and regulations.
The Patricks also highlight that the creator economy extends beyond major entertainment hubs. Successful creators like MrBeast are based in North Carolina, while John and Hank Green's Complexly operates from Indiana and Montana.
Industry Support and Advocacy
Key players in the creator economy, including Patreon and YouTube, have pledged support for the caucus. Patreon emphasizes the need for protections for creators, such as insurance, disaster relief, and access to loans, which traditional businesses often have.
Too often, creators are overlooked in economic policy discussions—despite being small business owners, employers, and cultural tastemakers in every congressional district,” explained Courtney Duffy, Patreon’s Head of External Affairs and Strategic Engagement. “The bipartisan Congressional Creator Caucus is a crucial step toward recognizing their impact and ensuring they have a seat at the table in shaping the policies that affect their livelihoods.”
Startups like Karat Financial have emerged to address some of these gaps by offering financial services tailored to creators.
