YouTube creators contributed Rs 6,800 crore to Indian GDP in 2020
By Team Newsable | First Published Mar 3, 2022, 4:20 PM ISTYouTube, released research by Oxford Economics, an independent consulting organization, that stated that the number of YouTube channels earning six figures or more in income is rising more than 60% year on year.
YouTube India's creative ecosystem contributed INR 6,800 Cr to the Indian economy and supported 6,83,900 full-time equivalent employment in 2020, according to Oxford Economics. Over 40,000 YouTube channels have garnered over 100,000 subscribers, a 45 per cent rise year on year.
YouTube, released research by Oxford Economics, an independent consulting organization, that stated that the number of YouTube channels earning six figures or more in income is rising more than 60% year on year. Furthermore, 92 per cent of SMBs on a YouTube channel felt that it helped them reach new consumers worldwide.
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"It is great to witness the genuine effect and influence YouTube's creative economy has unleashed in India," said Ajay Vidyasagar, Regional Director, APAC, YouTube Partnerships. The country's creator economy can develop as a soft power, influencing economic growth, job creation, and even cultural influence. As our innovators and artists establish the next generation of media enterprises that interact with a worldwide audience, their effect on the overall prosperity of the economy will only accelerate.
For over 14 years, YouTube has enabled creative entrepreneurs to achieve their professional ambitions by allowing them to share their hobbies and ideas with a large audience while also earning a living.
"Our study demonstrates that YouTube creates considerable positive consequences for Indian producers in terms of helping them reach their professional goals and expand their enterprises," said Adrian Cooper, CEO of Oxford Economics.
YouTube has been a driver for the global creative economy, with eight distinct methods to monetise content on the platform. Over 80% of creative entrepreneurs in India felt the platform positively influenced their professional goals.
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