SUMMARY
Indian YouTubers generated INR 6,800 Cr in economic value, supporting over 683K jobs in the process
YouTube in India helps SMBs, content creators, and students, while also being a source of online entertainment for the general population
Indian YouTube channels with more than 1 Mn subscribers have increased by 50% year-on-year, taking the total number to over 4,000
Indian YouTubers have contributed more than INR 6,800 Cr to India’s economy in 2020, with YouTube supporting 6,83,900 jobs across the country during the same time, said a report published by Oxford Economics.
Since its launch, YouTube India has seen a lot of creators putting up content on the video-sharing platform. These numbers have been consistently rising, and more and more content creators are making their YouTube gigs into full-time careers.
With thousands of success stories on the platform, being a YouTuber is fast becoming a lucrative career choice for many individuals in the country, content creators or otherwise.
The report noted that the primary source of the economic impact is the revenue that YouTubers earn from the website. This can include ad sales, payouts from eight alternative monetisation features such as channel memberships, Super Chat, and royalty payments paid to music and media companies.
Besides 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.
The indirect impact on the Indian economy comes from the consumption of goods and services that these YouTubers indulge in. Thereby benefiting the consumption economy and continuing the growth wheel chugging.
The report also noted a plethora of positive impacts of YouTube in various aspects of the country’s economy, such as helping SMBs gain new customers, helping students access additional sources, and helping Indian content creators reach a global audience.
Oxford Economics reported that 90% of the SMBs said that YouTube helped them grow their customer base, while 88% of SMBs who use YouTube find the ease of access to information on YouTube makes their employees more productive.
Currently, the number of Indian YouTubers with more than 100K subscribers numbers are around 40,000, a 45% year-on-year increase from 2020 to 2021. What’s more, more than 4,000 channels have over 1 Mn subscribers, an increase of over 50% year-on-year, as of June 2021.
Adrian Cooper, CEO of Oxford Economics, told Financial Express, “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.”
