Top 1 percent of YouTubers earn nearly $1 million on average per year

Top 1 Percent Of Youtubers Earn Nearly $1 Million On Average Per Year

YouTubers film a gathering of President Yoon Suk Yeol's supporters outside Seoul Detention Center in Uiwang, Gyeonggi Province, Jan. 16. Yonhap

YouTubers movie a gathering of President Yoon Suk Yeol’s supporters exterior Seoul Detention Heart in Uiwang, Gyeonggi Province, Jan. 16. Yonhap

Calls rising for stronger tax audits

The highest 1 % of YouTubers and on-line private broadcasters (BJs) earned a complete of 327 billion received ($227 million) final yr, with a median earnings exceeding almost 1 million {dollars} or 1.3 billion received per particular person.

Nonetheless, earnings disparity throughout the one-person media market stays important, with the highest 10 % accounting for greater than half of the full income.

Based on knowledge obtained from the Nationwide Tax Service (NTS) by Rep. Chung Il-young of the Democratic Occasion of Korea on Tuesday, a complete of 24,797 content material creators, together with YouTubers and BJs, reported their earnings final yr.

This determine represents an almost 19-fold enhance in comparison with 2019, when just one,327 people declared their earnings. The full reported income of those creators reached 1.79 trillion received.

The highest 1 %, comprising 247 people, made a unprecedented sum of money. Their mixed earnings amounted to 327 billion received. In comparison with 2019, when their whole earnings was 98 billion received, this marks a 36 % enhance over 5 years. The highest 1 % accounted for 18.3 % of the full income within the one-person media market.

The sample was comparable when the scope was expanded to the highest 10 %. These 2,479 people earned a complete of 899 billion received final yr, making up 50 % of the market.

Their common earnings was roughly 362 million received per particular person. In the meantime, the NTS has carried out solely 67 tax audits on YouTubers since 2019, when it launched a brand new business classification code for one-person media content material creators.

„Because the one-person media market grows, the manufacturing of utmost and provocative content material geared toward rising views for promoting income and private sponsorships is on the rise,“ Rep. Chung stated. „Regardless of the speedy annual enhance within the earnings of YouTubers and BJs, the variety of tax audits has remained virtually unchanged over the previous three years. Stronger tax investigations are vital.“

This text from the Hankook Ilbo, a sister publication of The Korea Instances, is translated by a generative AI and edited by The Korea Instances.

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