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| Revenue Model | Pre-2000 | Post-2020 | |---------------|------------|------------| | Primary driver | Advertising, physical sales | Subscriptions, microtransactions | | Middlemen | Distributors, record labels | Platforms (Apple, Amazon, Google) | | Creator payout | Royalties (small %) | Ad revenue share (YouTube), tips (Twitch) | | Piracy | Physical bootlegs | Stream-ripping, torrents |

: Microtransactions, digital tipping during live streams, and pay-per-view events bypass traditional corporate intermediaries. 5. Major Challenges Facing Creators and Publishers

The proliferation of high-quality smartphone cameras, accessible editing software, and global distribution platforms has lowered the barrier to entry for content creators.