It is widely known that the global economy is currently in a state of revival, with interest rates on long-term government bonds reaching record levels and investors seeking safe-havens in the form of government bonds and stocks. What many people may not realize is that this economic boom is largely due to the growing economy of China and other Asian countries. Emerging markets have outperformed established markets in nearly every respect, with emerging stocks tripling in value over the last five years and long-term government bonds gaining in value by 132%. One could argue that the revival of the global economy is attributable to the emergence of a new breed of investors, many of whom are driven by innovation and creativity, rather than purely by traditional investment criteria such as price-earnings ratios and share yields.
In light of this, perhaps it is not surprising that many of the sought-after professions in the future will be those in the creative field, particularly in areas such as writing, design, and film theory. After all, the economy is a reflection of the ways in which we as a society value our products and services, and right now, we are clearly valuing creativity and innovation more so than ever before.
So, is creative writing on its way out? Hardly! As a matter of fact, numerous professions and fields are currently in need of creative writers, and among them are businesses and public institutions that require creative thinking and new perspectives. If you are looking for a creative writing job, then prepare for a flood of applications as there will be plenty of opportunities available to you.
Creative Writing Demand Side Factors
While the demand for creative writing is undoubtedly going to increase as businesses, communities, and culture benefit from having more creative people, it is still necessary to examine the other side of the coin to properly assess the state of the creative writing industry. From a talent shortage to increasing competition, here are the factors that affect the demand for creative writing.
While the need for creative writing will increase as the economy continues its boom, it is still necessary to examine the limitations of many of those who will seek out employment in the field. According to the American Association of Advertising Agencies’ (4A’s) 2018 State of the Industry report, over 55 million Americans use social media platforms regularly, with over 26 million using TikTok alone. It was found that only 8% of users across social media platforms had a very strong understanding of the basic rules of grammar, while another 10% occasionally used correct English.
Given the pervasiveness of social media platforms in our society and the limited ability of many to articulate thoughts and ideas in a manner that is grammatically correct, it would be fair to assume that a significant portion of the population is likely to seek employment in the creative field and be unable to effectively communicate their ideas and thoughts.
With more people seeking employment in the creative field than ever before, it is only natural that employers would begin to realize the value of having more creative people on their staff. According to the Creative Skills Development Council, the UK’s leading provider of professional development in the creative industries, there is currently a shortage of skilled creative workers in Britain. With 1.9 million people currently looking for a creative job, the demand is clearly on the rise.
While there is no exact figure available, it is estimated that there are around 500,000 creative writing jobs available worldwide at the moment, with an average salary of around £30,000 per year. While this may not seem like a lot of money, if you are able to secure regular work and can increase your rate of pay, you will soon start to see the value in securing a creative job.
The Rise of Social Media
In the past, a strong educational background and professional experience were typically required to secure a creative job. However, the rise of social media has changed all of that, with over 55 million Americans using social media platforms on a regular basis. The amount of competition on social media platforms is also significant, with many people using platforms such as TikTok to post their work and connect with potential clients and employers.
The ease of use and interactive tools that social media platforms provide means that even those with limited ability can post and engage with their audience. As a result, businesses and governments alike are recognizing the potential that social media platforms offer and are actively encouraging the use of platforms such as TikTok and others to improve their outreach and engagement levels with the public.
In light of all of the above, it would be fair to assume that many of those who seek employment in the creative field are likely to have limited experience working in an office environment, particularly in an industry that interacts with the public on a regular basis. For those whose primary mode of employment is freelance work, operating entirely in an independent capacity, this adaptability and willingness to undertake new challenges will be highly valued by employers, who may see this as a potential asset in an increasingly digital world.
The Changing Landscape of Publishing
Traditional forms of publishing such as books and magazines are also seeing a transition, as readers move online and search engines optimize for visuals and short bursts of text, meaning that fewer people are relying on print publications for their information.
According to the Content Industry Benchmark survey, conducted in September 2018, 75% of content consumers said that they mostly get their news from online sources, with 49% saying that they get their news from social media platforms. Only 15% get their news from traditional newspapers and magazines. As a result, if you are looking for a job in publishing, you will certainly come across plenty of opportunities, but it will also be a constantly evolving landscape, where traditional methods of gaining knowledge and acquiring skills are being challenged by new platforms and digital trends.