Creator economy growth
Market research
- Source
- Grand View Research (2026–2033 outlook); Goldman Sachs Research (April 2023); IAB (November 2025) · Creator Economy Market report; creator economy outlook; 2025 Creator Economy Ad Spend & Strategy Report
- Period & basis
- GVR: 2026 estimate / 2033 forecast; Goldman Sachs: 2023 estimate / 2027 forecast; IAB: U.S. advertising in 2021, 2024 and projected 2025. USD billions. GVR estimates $310.4B in 2026 and forecasts $1,345.5B in 2033, with 23.3% CAGR. The separately defined Goldman Sachs $480B figure is a 2027 forecast published in 2023, not a current observed market size. IAB describes 2025 U.S. creator advertising growth as roughly four times overall media growth.
- Method
- Bars start at zero and are proportional to the published observations. The Goldman Sachs forecast retains its 2023 vintage; the IAB 2025 figure remains marked projected. No intermediate years are interpolated.
- Limitations
- Market estimates and forecasts are not realized investment returns or evidence of the Fund’s addressable revenue. These separately defined series cannot be combined into one growth trajectory or added together. Neither establishes future cash flow from any participation.
- Source review
- 2026-10-07 · Content responsibility: CRF editorial; primary research attributed to its publishers. This records review of the supplied material, not independent verification or an audit.
YouTube and U.S. television viewing
Market research
- Source
- Nielsen · July 2026 Media Distributor Gauge, published September 10, 2026 · July Gauge reports; YouTube share and distributor ranking
- Period & basis
- June 29–July 26, 2026. YouTube led measured U.S. television viewing by distributor, with 14.2% of viewing in July 2026.
- Method
- Nielsen measures viewing through television screens across broadcast, cable and streaming, including ad-supported and non-ad-supported viewing.
- Limitations
- A dated U.S. television audience measure, not all-device video consumption, creator revenue or an investment return. Nielsen notes planned methodological updates for fall 2026.
- Source review
- 2026-10-08 · Content responsibility: CRF editorial; primary research attributed to Nielsen. This records review of the supplied material, not independent verification or an audit.
Alternative income reference points
Historical reference
- Source
- Cliffwater 2025 CDLI results; Ross-Arctos Sports Franchise Index Q4 2025; NCREIF NFI-ODCE Q4 2025; supplied CRF model v3.0 · Cliffwater March 2026 release; RASFI Q4 2025 report pages 1–2; NCREIF January 30, 2026 release page 1; CRF deck slides 1–2 and 21–22
- Period & basis
- 2025 peer index figures; CRF Year-1 target and ten-year modeled IRR. CDLI: 9.3% unlevered gross-of-fees total return. RASFI: 18.2% estimated price growth, not cash yield, IRR or net LP return. NFI-ODCE: 3.79% gross fund-level total return, with 4.09% income return and −0.29% appreciation, reflecting fund-level leverage. CRF: 18.9% modeled net Year-1 cash yield and 25.4% ten-year modeled net IRR.
- Method
- Figures are reproduced separately with their period, fee basis and measure visible. Qualitative return profiles distinguish income-led lending, franchise valuation growth, and the income and growth potential of creator revenue and real estate. They are not measured return allocations. NCREIF components are separately compounded and may not sum to annual total return. CRF yield and IRR are different measures and must not be added. There is no common return axis, spread calculation, peer ranking or risk adjustment.
- Limitations
- Not a like-for-like performance comparison. Sports valuations are statistical estimates. Cash yield, price growth, total return and IRR differ, as do leverage and fee bases. CRF targets are not achieved results; its IRR includes estimated residual NAV. Sources do not establish that CRF outperforms these asset classes.
- Source review
- 2026-10-08 · Content responsibility: CRF editorial / model owner. This records review of the supplied material, not independent verification or an audit.
Modeled Fund returns
CRF model
- Source
- CRF deck v10.1 · CRF model v3.0; Scott Feedback.pdf (October 7, 2026) · Slides 1, 2 and 21–22; scenario analysis; feedback page 1 gross/net stat line
- Period & basis
- Day-1 LP; Year 1 income and ten-year value. USD; Day-1 LP. Gross headline targets: 29.7% ten-year IRR, 23.3% entry yield and 3.17× ten-year cash DPI. Corresponding net figures: 25.4% IRR, 18.9% Year-1 cash yield and 2.58× DPI. No actual Fund track record is represented.
- Method
- The site reproduces the supplied scenario outputs. Annual cash equals commitment × Year-1 net cash yield; quarterly equivalent divides annual cash by four. Cumulative cash equals commitment × DPI. Estimated residual NAV equals commitment × (TVPI − DPI).
- Limitations
- The underlying workbook has not been independently recalculated here. Scenario outputs use rounded multiples. Total value includes estimated residual NAV and assumes it can be realized at carrying value. Quarterly equivalent is not a payment schedule. No case is a floor on losses.
- Source review
- 2026-10-06 · Content responsibility: General Partner / model owner. This records review of the supplied material, not independent verification or an audit.
Participation pricing illustration
Illustrative arithmetic
- Source
- CRF deck v10.1 · scenario analysis · Slide 21; gross entry-yield definition
- Period & basis
- Annual participation cash; flat revenue illustration. Position level, before fees and expenses; not an LP return.
- Method
- Annual participation cash = eligible annual channel revenue × contractual revenue share. Purchase price = annual participation cash × entry multiple. Gross entry yield = 1 ÷ entry multiple. Simple payback uses constant annual cash and excludes fees. The participation illustration uses hypothetical annual eligible revenue of $800,000, a 10% share and a 4.3× entry multiple: $80,000 annual participation cash and a $344,000 price. Its sensitivity reduces revenue by 20% to $640,000, producing $64,000 cash while holding the original purchase price and share fixed. Full collection is assumed; fees, expenses and contract expiry are excluded.
- Limitations
- The calculator is an arithmetic illustration, not a completed investment, forecast or valuation. Contract duration and eligible revenue must be established separately. Revenue can decline or stop.
- Source review
- 2026-10-06 · Content responsibility: General Partner / model owner. This records review of the supplied material, not independent verification or an audit.
Indicative Fund terms
Fund strategy
- Source
- CRF deck v10.1; Scott Feedback.pdf (October 7, 2026) · Slides 2, 13 and 19; feedback page 1 confirms the Fund uses Rule 506(c)
- Period & basis
- Indicative terms; subject to final offering documents. Fund-level terms, separate from rights in an underlying participation.
- Method
- Summaries distinguish distributions, LP repurchase requests and sales of underlying positions. Percentage fees must be read with their assessment base and period.
- Limitations
- The supplied deck does not resolve the management-fee rate period, gate denominator or early-repurchase exception. Those details are not inferred here. Request the governing documents before subscribing.
- Source review
- 2026-10-06 · Content responsibility: General Partner / offering counsel. This records review of the supplied material, not independent verification or an audit.
Investment process and risk responses
Fund strategy
- Source
- CRF deck v10.1 · Slides 15 and 17; portfolio construction and risk mitigation
- Period & basis
- Described investment approach. Strategy statements, not evidence of realized performance or eliminated risk.
- Method
- The supplied strategy describes platform-revenue diligence, diversification, contractual underwriting and GP oversight. Each risk is shown with the described approach and the exposure that remains.
- Limitations
- Portfolio targets and intended controls are not guarantees. Provider appointments, executed contracts and current implementation should be confirmed in diligence.
- Source review
- 2026-10-06 · Content responsibility: General Partner. This records review of the supplied material, not independent verification or an audit.
Comparing the underlying rights
Structural explanation
- Source
- CRF deck v10.1 · Slide 8; structural comparison
- Period & basis
- General asset structures; individual instruments vary. Qualitative comparison, not a return, correlation or liquidity ranking.
- Method
- Compare what is owned, the source of cash and the rights that govern distributions or exit. Each investment must be evaluated on its own contract.
- Limitations
- The supplied peer yields and proxy risk statistics do not include enough methodology for a reproducible like-for-like ranking. They are not shown as comparable measured performance.
- Source review
- 2026-10-06 · Content responsibility: General Partner / research. This records review of the supplied material, not independent verification or an audit.