Creator Ops

The Fundamentals of Creator Economy M&A Explained


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On this episode of Creator Ops, I talk with Chris Erwin, the founder and CEO of RockWater, to break down how capital is flowing into the creator economy — and what this new growth cycle means for creators, operators, and acquirers.

Before founding RockWater, Chris began his career on Wall Street doing media and telecom M&A. He later joined one of the first YouTube MCNs and social agencies as COO back in 2012, where he helped co-lead the sale of the company in 2014. After seeing the lack of specialized advisory firms serving creator-led and digital-first businesses, Chris launched RockWater to fill that gap.

Today, the RockWater team advises leading creator businesses, agencies, and investors. They’re known for having one of the deepest deal pipelines and most detailed understanding of digital business models in the market.


In our conversation, Chris and I unpack why 2025 feels like the start of a new growth cycle in the creator economy — and where billions of dollars of investment are starting to flow.

  • Chris breaks down the four major categories of creator-economy M&A and what’s driving deal activity in each.
  • We talk about why strategic buyers — from agency holding companies to CPG brands — are suddenly acquiring creator-led media and IP.
  • Chris shares what creators should consider before taking on capital, from dilution math to growth expectations to partner selection.
  • We go deep on the signs that a creator business is actually ready to scale — and the red flags that immediately turn buyers away.
  • And finally, Chris shares lessons from advising dozens of deals, and what he believes the next wave of creator-led companies will look like.

Links:
Connect with Chris on LinkedIn
Rockwater Website 

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About:

Creator Ops teaches you how to become a great manager or operator for creators.

As the creator economy gains momentum, the need for great operators is dramatically increasing. These are the people behind the creators who help with product development, finances, sponsorships, content strategy, and much more.

We’ll interview the industry's best managers and operators to understand how they're shaping this rapidly changing space.

Connect with me (Thomas Schreiber) on:
Linked
YouTube

If you have any questions, comments, or feedback, send me an email: [email protected]

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Creator OpsBy Thomas Schreiber