The Online Platform Economy in 2018
Drivers, Workers, Sellers, and Lessors
Technological innovation is transforming economic exchange. Just a decade ago, the Online Platform Economy comprised a handful of marketplaces connecting independent sellers to buyers of physical goods. Today, platforms connect drivers to passengers, property owners to renters, and artisans to customers, among many other transactions. Relying on platforms to access almost any kind of good or service from some independent supplier has become a routine part of daily life for many consumers. Have these innovations created viable new options for making a living?
In this report, we extend the JPMorgan Chase Institute Online Platform Economy dataset series through March 2018, as well as expand the sample to 39 million unique account holders and 128 platforms. We track 38 million payments directed through these platforms to 2.3 million Chase account holders. Our analysis allows us to document the growth of platform earnings and participation, ultimately offering new insights about supply-side participation in the Online Platform Economy.