The number of YouTube creators in India has been on a consistent rise. More and more creators are finding opportunities to convert their YouTube gigs into careers. YouTube published a report by Oxford Economics, an independent consulting firm, which revealed that the creator ecosystem of YouTube is generating great economic value and had contributed over Rs 6,800 crore to the Indian economy in 2020 while supporting about 6.84 lakh full-time equivalent jobs.

Also read: YouTube sees 'incredible potential' in Web 3.0, NFTs

The number of Indian YouTube channels with more than 1,00,000 subscribers is now reportedly 40,000, a 45 percent year-on-year (YoY) growth. With this, Indian creators are finding opportunities and audiences on YouTube and opening new avenues for income. The platform has eight different ways of monetising a channel and the number of YouTube channels making six-figure incomes with this is up more than 60 percent YoY.

According to Ajay Vidyasagar, Regional Director, APAC, YouTube Partnerships, the Indian creator economy has the potential to rise as a soft power impacting economic growth and job creation.

Also read: Are you willing to pay for exclusive content on Instagram?

“As our creators and artists build the next generation of media companies that are connecting with a global audience, their impact on the economy’s overall success will only continue to accelerate. We remain laser-focused on our goal of delivering an open, inclusive and responsible platform for hundreds of millions of Indians who turn to YouTube to develop new skills, discover their passions, hone their talents, and grow their businesses,” he said as reported by the Financial Express.

Also read: How can you keep your Brand Safe on Social Media?

In addition to the revenue, YouTube also allows creators to gain a wider audience and build a global reach. This in turn opens up avenues of income for creators via brand collaborations, live performances, sponsorships, and more.

According to the Oxford Economics report, over 80 percent of creative entrepreneurs in India said YouTube has had a positive impact on their professional goals. The platform claims to have become a positive tool for small and medium-sized businesses (SMBs) as well. Over 92 percent of SMBs with a YouTube channel agreed that YouTube helps them reach new audiences across the world through their channel, targeted ads, or simply from watching YouTube content, according to the report.

Also read: Storyboard18 | 'Want creators to become brands and not brands to become creators', Laurent Hulin, Jellysmack

“This report is the first of its kind to unpack and quantify the economic, societal, and cultural impacts of the YouTube ecosystem in India. Our research shows that YouTube fosters significant positive impacts for Indian creators in terms of helping them achieve their professional goals and grow their businesses,” Adrian Cooper, CEO, Oxford Economics, said in the Financial Express report.

(Edited by : Shoma Bhattacharjee)

First Published:Mar 3, 2022 5:21 PM IST