May 25, 2024
India Creator Economy Market

India Creator Economy Market Is Expected to Be Flourished by Increasing Demand for Digital Content

The Creator Economy in India refers to a new group of digital entrepreneurs who are fully independent and create various types of digital content to earn income online. Creators in India design visual content like graphics, videos or photos, produce audio content like podcasts or make tutorials and educational content across diverse topics. With rising smartphone and internet penetration in the country, there has been a significant increase in time spent by users on various social media platforms and streaming services in recent years. Creators in India leverage these platforms to engage audiences and monetize their content through options like memberships, subscriptions, advertisement or affiliate marketing revenue share models. Growing digitization of day-to-day activities and increasing popularity of online learning, video streaming and social commerce are driving the demand for fresh and personalized digital content in regional languages as well.

The India Creator Economy Market is estimated to be valued at US$ 3 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 Dynamics:

The increasing demand for digital content in diverse regional languages is one of the key drivers of India’s Creator Economy market. As per government estimates, only about 10% of all internet content globally is available in Indian languages currently. This represents a major untapped market opportunity for creators who develop content in native languages like Hindi, Tamil, Telugu etc. According to a recent Bain & Company report, India has over 700 million internet users, most of whom consume content and go online in their native language. The growing number of regional language internet users browsing on their smartphones is creating more monetization avenues for creators focused on Bharat or non-English markets.

Another important driver for the India Creator Economy has been the availability of easy to use content creation tools and platforms that help distribute videos, podcasts, images, interactive media across the internet. Various companies are now offering free and open tools that simplify streaming, video recording, animation, graphics design etc for new-age creators. Platforms also provide ready monetization options and give access to audiences. This has lowered entry barriers for professionals and hobbyists to become creators.

Segment Analysis

The India creator economy market is segmented into content creators, freelancers, and independent professionals. Content creators, which include influencers, digital artists, photographers, and podcasters, dominate the market and account for over 50% share. This is because there is a rise in demand for user generated content across social media platforms and the desire for many individuals to become social media influencers or digital content creators.

PEST Analysis

Political: The government of India actively supports the growth of startups and entrepreneurship in the country through various policies and programs. It has launched initiatives like Startup India and Digital India to boost the digital economy.

Economic
: India is one of the fastest growing major economies in the world with a growing middle class population. This creates more opportunities for individuals to become independent professionals and content creators.

Social
: There is increasing adoption of digital technologies and Internet usage among Indian consumers. Social media usage has grown multifold creating more avenues for influencer marketing and digital content creation.

Technological
: Emergence of new digital platforms, availability of smartphones, and fast improving connectivity infrastructure helps in easy creation and distribution of content across India. Advances in technologies like artificial intelligence are also enabling new forms of content creation.

Key Takeaways

The India Creator Economy Market Size is expected to witness strong growth over the forecast period of 2023-2033. The digital media and entertainment industry has boomed in India creating parallel opportunities for content creators, influencers, and freelancers. The content creation industry in India is becoming increasingly mainstream with more people pursuing it as a full-time career option. 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.

Regional Analysis

Metros and tier 1 cities account for the largest share currently due to higher disposable incomes and digital adoption in these regions. However, tier 2 and 3 cities are emerging rapidly as content production and marketing hubs. States like Gujarat, Punjab, and Telangana are witnessing a fast rise in their content creator bases. Western and southern states like Maharashtra, Karnataka and Tamil Nadu dominate due to their vibrant startup ecosystems and extensive media industries.

Key players

Key players operating in the India creator economy include platforms like YouTube, Instagram, Sharechat, and Moj alongside established production houses like Balaji Telefilms and Reliance Entertainment venturing into the influencer marketing space. Newer players like Patreon, Clipchamp and FREESTYL also allow creators to build sustainable income streams.

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