The study, based on 2021 surveys of more than 6,000 Indian users and businesses, highlighted 6.83 lakh full-time equivalent jobs created through the ecosystem
The study, based on 2021 surveys of more than 6,000 Indian users and businesses, highlighted 6.83 lakh full-time equivalent jobs created through the ecosystem
Special Rapporteur
The YouTube ecosystem at YouTube contributed an estimated £6,800 billion to India’s GDP and created more than 6.83 lakth full-time jobs in India in 2020, according to a report by Oxford Economics published on Thursday.
The study is based on surveys conducted in 2021 with more than 6,000 Indian users and companies.
“Now, for the first time, we have a deeper sense of how our creative ecosystem connects to communities across the country. We asked the experts at Oxford Economics to measure the real impact and impact of the YouTube creator economy in 2020,” said Ajay Vidyasagar, Regional Director, APAC, YouTube Partnerships.
The report, entitled A Platform for Indian Opportunity: Assessing the Economic, Societal and Cultural Impact of YouTube in India, was published by YouTube.
“The country’s creative economy has the potential to evolve into a soft power, influencing economic growth, job creation and even cultural influence. As our creators and artists build the next generation of media companies that connect to global audiences, their impact on the overall success of the economy will only accelerate,” added Mr. Vidyasagar.
He added that with the number of channels in India with more than 100,000 subscribers now at 40,000, up over 45% YoY growth, more Indian YouTubers are finding opportunities and viewers on YouTube, which often opens new doors leads from the platform.
“Today, the number of channels earning at least ₹100,000 is up 60% year over year [as of June 2021]. This continues to motivate creative thinkers and doers from all walks of life and regions to find their voices and build new ventures on YouTube,” he said.
The Oxford Economics study combines YouTube-driven advertising revenue with other related revenue, such as: B. Non-Advertising Revenue [eg, subscriptions and alternative monetisation]and off-platform revenue [fan-meetups and sponsorships].
Noting that the growing YouTube community is generating “tremendous economic value in India,” not only for creators but also for businesses, employees and consumers across the country, the report states that the main source of the economic impact of YouTube platform earnings are redistributed to its creators, which may include ad sales, payouts from eight alternative monetization features like channel memberships and Super Chat, and royalties paid to music and media companies.
“When producing content for YouTube, creators spend money on goods and services in their supply chains, which also has indirect economic impacts. In turn, creators and other contributors to YouTube’s creative ecosystem or its supply chain (including video editors, graphic designers, producers, etc.) spend their earnings. This activity creates another induced economic impact in the economy,” she added.
Oxford Economics also estimated the revenue that content creators earn from other sources stimulated by their YouTube presence. These include increased product sales, brand partnerships or live performance engagements. “These off-platform revenues have a catalytic effect on the economy, stimulating additional indirect and induced impacts through supply chain activities and wage spending. The overall economic impact of YouTube’s creative ecosystem refers to the sum of its direct, indirect, induced and catalytic impacts,” the report added.
