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Subscription failed Subscribe for free Thank you for subscribing! Enter your email address[ ] Please enter a valid email. Please enter a valid email. Subscription failed Subscribe for free Thank you for subscribing! Updated 10 hours ago - Economy & Business The creator economy is failing to spread the wealth Sara Fischer, author of Media Trends Illustration: Rae Cook/Axios The creator economy was supposed to democratize media, but it turns out that a small portion of creators still reap the most revenue for their work across multiple platforms. Why it matters: New tipping and micropayments features will hopefully make it easier for smaller creators to get paid. But for now, much of the creator economy is still supported by pricier subscriptions, forcing consumers to be selective. Driving the news: Data revealed as a part of a massive Twitch hack last week found that this year the top 1% of all streamers earn more than half of all revenue on the platform, per the Wall Street Journal . * Video: While a handful of creators have made substantial money, the vast majority of earners on Twitch have made less than $120 this year so far, per the report. * Newsletters: The top ten publications on Substack collectively make more than $20 million a year in subscription revenue, while less popular newsletters typically make tens of thousands annually. * Podcasts: The top 1% of podcast earners make the vast majority of podcast ad revenue, although efforts to broaden podcast revenue through new creator programs at Apple and Spotify will hopefully help more creators get paid. * Social: A report from TechCrunch last month found that Twitter's new "Super Followers" feature, which allows people to tip their favorite creators, only brought in $6,000 in its first two weeks. The big picture: What's happening now with the creator economy mirrors all of the previous waves of digital media economies built before it via social media, blogging and websites. * New platforms have long offered hope of empowering smaller voices, only to see the top creators reap the most benefits. * Internet theorist Clay Shirky famously dubbed this phenomenon the "power law distribution" in 2003. The bottom line: "In systems where many people are free to choose between many options, a small subset of the whole will get a disproportionate amount of traffic (or attention, or income), even if no members of the system actively work towards such an outcome," Shirky wrote. * "This has nothing to do with moral weakness, selling out, or any other psychological explanation. The very act of choosing, spread widely enough and freely enough, creates a power law distribution." What to watch: The same phenomenon is happening today in the news media. While bigger publications like The New York Times, The Washington Post and The Wall Street Journal attract millions of digital subscribers, smaller regional papers are struggling to keep up, despite offering a differentiated product. Go deeper Alayna Treene, author of Sneak Peek 5 hours ago - Politics & Policy House Budget Chair John Yarmuth to retire Photo: Bill Clark/CQ-Roll Call, Inc via Getty Images House Budget Chair John Yarmuth, the lone Democrat representative in Kentucky, announced on Tuesday he will not run for re-election in 2022. Why it matters: Yarmuth, a senior Democrat who runs one of the House's most powerful committees, has been a key negotiator for President Biden's roughly $2 trillion social spending package and other economic priorities. Go deeper (<1 min. read) Jacob Knutson 6 hours ago - Health Experts change guidance for people taking daily aspirin Illustration: Sarah Grillo/Axios People 60 and older should not take low-dose aspirin daily to prevent a first heart attack or stroke, according to a working recommendation from the U.S. Preventive Services Task Force. Why it matters: It's a revision of the panel's 2016 recommendation that recommended some people take baby aspirin daily to prevent heart disease and colorectal cancer. Go deeper (1 min. read) Russell Contreras 7 hours ago - Politics & Policy Democrats eye Hispanic candidates to boost swing-district turnout U.S. Rep. Ruben Gallego (D-Ariz.) Photo: Tasos Katopodis/Getty Images) The campaign arm of the Congressional Hispanic Caucus is launching an aggressive effort to recruit more Hispanic and Latino candidates to compete next year in swing districts with open seats or Republican incumbents. Why it matters: U.S. Rep. Ruben Gallego (D-Ariz.), who chairs the CHC BOLD PAC, told Axios he believes running more Hispanic Democratic candidates could increase Latino voter engagement and the prospects for a midterm blue wall keeping Democratic control of the House of Representatives. Go deeper (2 min. read) Axios gets you smarter, faster with news & information that matters. Copyright Axios Media, 2021 About About Axios Advertise with us Careers Events Axios on HBO Axios HQ Privacy and terms Online tracking choices Contact us Subscribe Axios newsletters Axios app Axios podcasts Courses Earn Axios rewards