YouTube’s creator ecosystem has contributed an estimated Rs 6,800 crore to the Indian economy in 2020, according to a report released on Thursday.
The report also says YouTube supported 6,83,900 full-time equivalent jobs in India in 2020.
The report by Oxford Economics, an independent consulting firm, assessed YouTube's economic, societal, and cultural impact in India.
The study by Oxford Economics combines YouTube-driven advertising revenues, with other related revenues, such as non-advertising revenues (such as subscriptions and alternative monetisation), and off-platform revenues (fan-meetups and sponsorships).
YouTube said the revenue sources not only support jobs and income for creative entrepreneurs but also spur wider activity in supply chains, YouTube said.
"The creator economy in the country has the potential to emerge as a soft-power impacting economic growth, job creation, and even cultural influence." said Ajay Vidyasagar, regional director (Asia-Pacific) of YouTube Partnerships.
India is a large market for digital and social media companies and has been witnessing strong growth on the back of booming smartphone sales and affordable data rates.
As per estimates shared by the government last year, the country has 44.8 crore YouTube users, 53 crore WhatsApp users, 41 crore Facebook users, 21 crore use Instagram and 1.75 crore are on Twitter.
(With agency inputs)
