Funding for global creator economy startups continued its downward spiral in 2023, falling nearly 58% to about $1.7 billion compared to the year before, according to the latest update from The Information’s Creator Economy Database. Funding for just U.S. startups plunged 62% to $1.03 billion year-over-year.
A once white-hot sector for investors, creator economy startups have struggled as VC funding dries up in a high-rate environment. Others have failed to find enough paying customers. At least 36 startups found acquirers or merged with competitors last year, more than double the year prior. At least 8 shut down altogether, twice the number in 2022.
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