Creative entrepreneurs on YouTube contributed over Rs 10,000 crore to the Indian GDP in 2021, and supported the equivalent of 7.5 lakh full-time jobs in the country, the Google-owned platform said in a report released on Monday.

The report titled ‘A platform for Indian Opportunity’ stated that YouTube’s creative entrepreneurs' contribution to Indian GDP increased 47 percent from Rs 6,800 crore in 2020. According to data from the 2020 report, the platform contributed to 6.84 lakh full-time jobs.

"We are delighted that YouTube’s creative ecosystem continues to power India’s creator economy, supporting new jobs and opportunities across the length and breadth of the country. We have come a long way in this journey and remain committed to introducing new ways for creators to engage with their audiences, across languages, and grow their revenues," Ajay Vidyasagar, YouTube's Director of South, Southeast Asia and APAC Emerging Markets, said in a statement, reports IANS.

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According to Oxford Economics, they surveyed 4,021 YouTube users, 523 businesses, and 5,633 creators of all sizes for this year's research.

According to Google, creators who have at least 10,000 subscribers on their largest channel qualify as creative entrepreneurs, as do those with fewer subscribers but who receive money directly from YouTube, earning off of other sources using their YouTube videos, or hire full-time employees to help them with their YouTube activities.

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This report includes the "direct, indirect, induced and catalytic" impact of YouTube's creative ecosystem on the Indian economy.

Therefore, the Rs 10,000 crore amount includes both the revenue made by music and media firms as well as the cash made directly by YouTube creators through a variety of revenue streams, including advertising, channel memberships, subscriptions, and Super Chat, among others.

It also includes the money that content creators spend on video editors, video software, graphic designers, producers, and sound and film equipment, among others to create content. "These off-platform revenues have a catalytic impact on the economy, stimulating further direct, indirect, and induced impact," the report said.

The report further added that in India, the number of YouTube channels making Rs 1 lakh or more in their annual revenue was up over 60 percent in 2021 as compared to 2020. The number of channels with over one million subscribers also went over 4,500 in 2021 rising 40 percent from 2020.

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First Published:Dec 19, 2022 4:25 PM IST