May 26, 2024
India Creator Economy Market
Ict

The Growing India Creator Economy Is Driven by Increasing Smartphone and Internet Penetration

The creator economy refers to digital platforms that allow individuals to monetize their talents and skills. In India, creators generate income through various avenues such as direct payments, subscriptions, affiliate marketing, product/service commissions, sponsorship, patronage, etc. The creator economy has witnessed tremendous growth in India driven by factors such as growing smartphone penetration, availability of affordable data plans, digitization of content and payments, rising social media consumption, and increasing adoption of creator tools and influencer marketing by brands. India has the second-largest internet user base in the world with over 900 million internet subscribers as of 2023. This growing online population spends significant time consuming digital content on various social media, video, audio and live streaming platforms. Creators are constantly producing unique and engaging content across different genres and categories to meet the demand of this digital audience. Products associated with the creator economy include content creation tools, monetization solutions, audience engagement platforms and analytics/measurement services that help creators build sustainable businesses.

The India Creator Economy Market is estimated to be valued at US$ 12 Billion in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 – 2033, as highlighted in a new report published by CoherentMI.

Market Key Trends:

The emergence of short-form video platforms has significantly boosted the India creator economy. Platforms such as Moj, Josh and Chingari allow creators to produce bite-sized and entertaining videos in regional languages. Such platforms have gained immense popularity among India’s internet user base of over 600 million, many of whom prefer consuming content in their native dialects over English. Short-form videos have proven to be an engaging format for creators to experiment, grow their follower base quickly and monetize through brand endorsements and affiliate marketing. Another major trend is the rise of career coaching and education content on platforms. With growing unemployment and education costs, many young Indians are turning to online creators for career guidance, upskilling opportunities and entrance exam preparation at affordable rates. Top creators in fields of coding, design, commerce and civil services have amassed large subscriber bases by providing actionable learning content. This emerging segment within the India creator economy is expected to witness strong double-digit growth over the next decade.

Porter’s Analysis:

Threat of new entrants: The Indian creator economy market has low threat of new entrants due to the market being dominated by few established players and the requirement of significant funding to enter this growing market.

Bargaining power of buyers: Buyers have moderate bargaining power as there are multiple players providing similar services. However, switching costs are low for buyers.

Bargaining power of suppliers: Content creators and influencers have moderate to high bargaining power as the demand for unique and fresh content is growing rapidly in India.

Threat of new substitutes: Threat of substitution is moderate to high with emergence of new social media platforms and evolving digital business models.

Competitive rivalry
: The competition is intense in the Indian creator economy market with established players like YouTube, Facebook competing aggressively to attract influencers and content creators.

Key Takeaways:

The India Creator Economy Market Size is expected to witness high growth over the forecast period of 2023 – 2033. The growing internet and smartphone penetration coupled with increasing demand for personalized digital content will drive the industry expansion. The India Creator Economy Market is estimated to be valued at US$ 12 Billion in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 – 2033.

The southern region in India dominated the market in 2022, attributed to rising digital consumption in states like Karnataka, Tamil Nadu and Kerala. However, northern states like Punjab, Haryana and Uttar Pradesh are expected to offer lucrative opportunities with rapid digitization of rural economy.

Key Players operating in the India creator economy market include YouTube, Facebook, Instagram, Sharechat, Josh and Koo. These players have been investing heavily in developing customized tools and features to support India’s vast pool of influencers and content creators. Players are focusing on monetization strategies and ramping up local language content offerings.

Objectives of the Report:

1) Investigate and forecast the value and volume of the India Creator Economy market.

2) Estimate market shares for major India Creator Economy segments.

3) To demonstrate how the market for India Creator Economy is evolving in various parts of the world.

4) Research and analyze micro markets in terms of their contributions to the India Creator Economy market, as well as their prospects and individual growth patterns.

5) To provide precise and useful information on the factors influencing the rise of India Creator Economy.

6) To provide an in-depth analysis of key business strategies used by major companies in the India Creator Economy market, such as R&D, collaborations, agreements, partnerships, acquisitions, mergers, new product launches, and acquisitions, mergers, and acquisitions.

FAQ’s

Q.1 What are the main factors influencing the India Creator Economy market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top India Creator Economy Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the India Creator Economy market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1.       Source: CoherentMI, Public sources, Desk research
2.       We have leveraged AI tools to mine information and compile it