Formulas
Paying intensity = active fans / registered fans = 132,000,000 / 437,000,000 = 30.21%
Effective marketplace ratio = active fans / active creators = 132,000,000 / 2,500,000 = 52.8
Fan spend yield = GMV / active fans = 7,765,000,000 / 132,000,000 = $58.83
Active creator mean = payouts / active creators = 6,300,000,000 / 2,500,000 = $2,520
Platform leverage = GMV / employees = 7,765,000,000 / 47 = $165.2 million
If a tracker still prints “81.6 fans per creator” from FY2024 cumulative accounts, they are a year late and one definition off. The live marketplace in FY2025 was 52.8 active fans per active creator.