India Creator Economy Market Estimated to Witness High Growth Owing to Increasing Demand for Digital Content

 The India creator economy refers to a class of professionals who can monetize their talents and skills to create digital content such as videos, music, graphics, podcasts, articles, etc. for social media platforms. Creators engage with their followers or subscribers to generate revenue through sponsorships, advertising, subscriptions, tipping/donations, affiliate marketing, tickets to events and creation of digital products. Some prominent categories in the India creator economy include YouTubers, Instagram influencers, gamers, podcasters, designers, writers, etc.

The global India Creator Economy Market was valued at US$ 976.0 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.

Market Dynamics:

One of the key drivers for the growth of the India creator economy market is the increasing demand for digital content such as videos, music, podcasts, graphics, etc. among Indian consumers, especially millennials and Gen Z. As traditional forms of entertainment lose popularity among these demographics, the appetite for engaging digital content created by influencers and personalities on social media has surged tremendously. Additionally, the growing ubiquity of affordable smartphones and high-speed Internet connectivity in India has improved access to digital content creation platforms and tools for both creators and audiences alike. The proliferation of live streaming and short-video apps has provided additional monetization opportunities for creators in India to interact with their fanbase and generate revenue.

SWOT Analysis

Strength: India has a large population of young talented creators that can develop content on various digital platforms. The growth of internet and smartphone penetration has opened opportunities for more people to showcase their talents online. Many edtech companies are also offering courses focusing on content creation and technology skills.

Weakness: Despite the potential, a majority of creators in India still struggle with monetization of their work. Lack of proper guidance and finances act as barriers for some to monetize their skills. Technical skills and knowledge of various platforms also varies greatly among creators.

Opportunity: With rising internet usage and time spent online by Indians, the demand for unique digital content is increasing rapidly. Various genres like education, entertainment, comedy, spirituality have growth opportunities. Emerging technologies like AI, AR/VR can enhance creator experiences and value offerings.

Threats: Factors like censorship policies, copyright issues and platform regulations can impact some genres of content. Global players with large budgets may attract top Indian talents limiting opportunities for local players. Piracy also threatens monetization in some content categories.

Key Takeaways

The India Creator Economy Market Size is expected to witness high growth supported by the increasing internet and smartphone penetration in the country. According to reports, the market size is projected to reach US$ 976.0 Mn by 2023 registering a CAGR of 22% between 2023-2030.

Regional Analysis: The southern region of India accounts for the largest share currently due to presence of hubs like Bengaluru and Chennai with availability of technical skills and infrastructure. However, northern and western states are emerging rapidly supported by growing internet and content consumption in local languages like Hindi, Gujarati etc. Tier 2/3 cities are showing high potential due to increasing aspirations and access to digital platforms.

Key Players: Leading platforms operating in the Indian creator economy include YourQuote, Pratilipi and Khabri focused on written content and vernacular storytelling. Players like Kalakaar, Vernacular.ai and Vokal are developing AI/ML tools to help creators. Audio platforms like Pocket FM and music communities like Krazybee have also emerged. General creator communities like Kreateurs and Social Swag along with hyperlocal delivery platform Dunzo are facilitating creator monetization efforts.

Reasons to Purchase India Creator Economy Market Report:

1. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

2. Develop/modify business expansion plans by using substantial growth offerings in developed and emerging markets.

3. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the India Creator Economy Market.

FAQ’s

Q.1 What will the market development pace of the India Creator Economy Market?

Q.2 What are the sales, revenue, and price analysis of the top players of the India Creator Economy Market?

Q.3 What are the market opportunities and threats faced by the vendors in the India Creator Economy Market?

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