May 25, 2024
India Creator Economy Market

India Creator Economy Market is Expected to be Flourished by Rise in Digital Advertising and Short Video Platforms

The India creator economy market involves various digital platforms that allow individuals to monetize their skills, talents, and expertise through various online mediums. Creators in India generate income through activities such as developing content, selling merchandise & services, conducting online classes, gaining sponsorships, and receiving tips & donations from audiences. The digital marketplaces provide tools, infrastructure and monetization options to help individuals earn a living through their content, expertise and creative work online. Popular creator services include short-video platforms, podcast hosting, blogging platforms for micro-entrepreneurs, digital media companies focused on online education and training, as well as virtual experiences.

The global India creator economy Market was valued at US$ 976.0 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.

Market Dynamics

Rise in Digital Advertising
The exponential growth of social media platforms and digital consumption in India has led to a boom in digital advertising. As the advertising pie continues to grow, more brands are opting to engage with macro and micro influencers to promote their products and services. This growing demand for influencer marketing is encouraging the rise of individual creators who generate sponsored content for brands. Advancements in data analytics also allow better measurement of campaign success, driving more marketing budgets to digital activations.

Growth of Short Video Platforms

The proliferation of accessible smartphones and cheap data plans has made short-form video a popular format for content consumption as well as creation. Platforms like Instagram Reels, Josh and Moj have witnessed meteoric growth in the past two years with millions of daily active users. They provide monetization options like brand partnerships, paid/sponsored campaigns, and tipping/donations that encourage more individuals to consider content creation as an economic opportunity.

Segment Analysis

The India creator economy market is dominated by two key segments – content creators and marketplace. Content creators segment is further divided into visual creators, writers, podcasters, gamers etc. Among these, the visual creators segment accounts for over 35% share driven by the popularity of platforms like YouTube, Instagram Reels etc. The marketplace segment facilitates transactions between creators and their audience/clients and is led by platforms that offer diverse monetization models.

India Creator Economy Market Segmentation

By Platform:

Video
Audio
Writing
Live Streaming
Others

By Type of Creators:
Independent Individual Creators
Commercial/Professional Creators
Influencer Agencies
MCNs
Others

By City type:
Metros
Tier 1 Cities
Tier 2 Cities
Tier 3 Cities and Rural

By End Use:
Media & Entertainment
Education
Marketing/Advertising
Consulting
Technology
Others

PEST Analysis

Political: The government has announced initiatives to boost the digital creator ecosystem through programs promoting local languages and entrepreneurship. However, data protection laws and strict content regulations remain a challenge.

Economic
: Growing internet and smartphone penetration accompanied with increasing disposable incomes have aided the expansion of the creator economy in recent years. The market is expected to benefit from rising digital consumption in the country.

Social
: Changing attitudes towards non-traditional careers and the emergence of social media influencers have improved the acceptance of being a digital creator. The youth are actively producing and consuming diverse online content.

Technological
: Advancements in technologies like AI, AR/VR, blockchain etc are enabling the development of new interactive content formats and monetization solutions. Wide availability of online tools and platforms have lowered entry barriers for newcomers.

Key Takeaways

The global India Creator Economy Market Size is expected to witness high growth over the forecast period driven by the expanding online content ecosystem in the country. The global India creator economy Market was valued at US$ 976.0 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023-2030.

The India creator economy market is highly fragmented with the presence of various niche players catering to localized content and audiences. Regional language platforms have gained notable traction in southern and western regions on the back of locally relevant stories and dialects. Overall, the growth potential of new formats, rising internet infrastructure and supportive government policies augur well for the future expansion of the domestic creator marketplace.

The northern region, led by New Delhi and Mumbai, currently dominates accounting for over 30% share owing to high digital infrastructure and presence of major platforms and creators. Key players operating in the India creator economy market are YourQuote, Pratilipi, Khabri, Kalakaar, Vernacular.ai, Vokal, Ultra Media & Entertainment, Pocket FM, Krazybee, Kreateurs.

YourQuote is a popular writing and quoting platform that allows users to express themselves creatively. It has a sizeable userbase of amateur as well as professional writers and poetry enthusiasts.

Pratilipi is another leading writing platform focused on storytelling. It engages with readers through various contests and literature festivals organized both online and offline.

Reasons to Purchase India Creator Economy Market Report:

1. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

2. Develop/modify business expansion plans by using substantial growth offerings in developed and emerging markets.

3. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the India Creator Economy Market.

FAQ’s

Q.1 What will the market development pace of the India Creator Economy Market?

Q.2 What are the sales, revenue, and price analysis of the top players of the India Creator Economy Market?

Q.3 What are the market opportunities and threats faced by the vendors in the India Creator Economy Market?

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