AAccording to a recent report by Oxford Economics, . This shows the growth of the Indian creator economy. The YouTube content creators contributed Rs.6.8 billion to India’s GDP in 2020
The creator economy is the ecosystem where money is made by creating content. It is driven by individual creativity and large technology platforms.
According to the Oxford Economics report, Youtube has helped create 6.83 lakh full-time jobs in India. Platforms like Facebook, Instagram, Snapchat and other Indian players have provided funds to pay these creators. They also earn from ad revenue, subscriptions, royalties, brand collaborations, and NFTs.
Aside from the people we see on our screens, editors, designers, animators, videographers, and other technicians have also been able to find many earning opportunities in this ecosystem.
Finance Minister Nirmala Sitharaman mentioned the importance of fostering creativity in her budget speech. She also spoke about the establishment of an AVGC promotion task force to meet our market needs and global requirements.
