We all know the content and influencer economy is currently booming and businesses have starting to allocate separate funds in order to support the influencers and content creators.
A fund of 339 Crores Announced by Dubai
In a recent announcement, Vice President and Ruler of Dubai, Sheikh Mohammed bin Rashid has announced a fund of 150 million dirham (Rs 3,39,27,04,024) to support content creators and influencers.
A permanent headquarters for the same has also been announced for them.
It was on the Wednesday, January 10 that the announcement was made during the 1 Billion Followers Summit, organized by the New Media Academy in Dubai.
The 1 Billion Followers Summit
Sheikh Mohammed wrote on X that “The UAE today hosted 3,000 content creators with more than 1.8 billion followers from 95 countries around the world in one of the largest global gatherings of content creator”.
He added that “We welcome them in the UAE, and tell them that content creation is a responsibility, a science, and the future of media. Today, we announce a fund of Dhs150 million dedicated to support content creators and establishment of a permanent headquarters for them to develop their skills and capabilities to take them to global levels”.
The reason as to why the content creator and influencer economy is seeing the boom is because online audiences are consuming more content. Out of all the internet traffic, 74% is the video content consumption.
This is the reason why you can see that the branded videos have increasingly popped up alongside the most successful content creators.
