{"id":174008,"date":"2022-03-12T20:53:17","date_gmt":"2022-03-12T15:23:17","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=174008"},"modified":"2022-03-12T20:53:17","modified_gmt":"2022-03-12T15:23:17","slug":"unshackling-the-creative-sector","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/unshackling-the-creative-sector\/","title":{"rendered":"Unshackling the creative sector"},"content":{"rendered":"\n

News: <\/strong>A report commissioned by YouTube (YT), provide a glimpse of the \u201ccreator economy\u201d in India.<\/p>\n

Scope of YouTube Channels in India<\/strong><\/p>\n

YouTube platform hosts around 40,000 Indian channels<\/strong> with over 1 lakh subscribers and the number of channels earning revenues in excess of Rs 1 lakh jumped by 60 per cent year-on-year in June 2021.<\/p>\n

The cost of setting up a YT channel is negligible. The big influencers end up hiring teams, setting up studios with fancy equipment and exploring alternative marketing and revenue generation options as well.<\/p>\n

YouTube created the equivalent of 6.8 lakh full time jobs.<\/em> It generated a \u201ccontribution\u201d of Rs 6,800 crore<\/em> (roughly $890 million) to India\u2019s gross domestic product in the \u201ccreator economy\u201d in India in 2020.<\/p>\n

Other Creative Ecosystem<\/strong><\/p>\n

YT is the biggest player in this digital entertainment\u00a0ecosystem, but it is also paralleled by other creative ecosystems<\/p>\n

Indian Movie Industry<\/strong>: In 2019-20 (the pre-Covid year), the Indian movie industry (all languages) generated over Rs 14,000 crore in revenues from ticket sales, channel subscriptions, etc.<\/p>\n

TikTok: <\/strong>Despite being banned in India; it still has a huge fanbase in India. Example, dozens of people circumvent the ban to access TikTok, and we can see desi TikTok content popping up on WhatsApp all the time.<\/p>\n

Instagram: <\/strong>It is another platform for big influencers. It has a user-base of 180 million-plus. Plus, there\u2019s Spotify, podcasters, and gamers, as well as smaller communities on Twitch.<\/p>\n

What are the few challenges faced by the creator economy?<\/strong><\/p>\n

Indian Smartphone Mobile Users:<\/strong> Only about half of India\u2019s mobile users have smartphones<\/p>\n

Internet Connectivity:<\/strong> Most of India lives with pathetic 4G speeds, which is a big barrier. In contrast, some 90 countries already have commercial 5G, while India hasn\u2019t even auctioned spectrum.<\/p>\n

It can be described as a \u201chyper-pareto\u201d market:<\/strong> – In these markets 95-99% of the revenue is being cornered by 1-5% of players. It is in contrast to a normal Pareto system, in which 80% of the revenue is accrued by 20% of the players in the system.<\/p>\n

The practical barriers for a digital creator are mostly policy-related<\/strong>: TikTok is banned; creators pay 18% GST and fill in lots of intimidating paperwork on revenues.<\/p>\n

What can be done?<\/strong><\/p>\n

More attention is required at removing policy barriers and red tape would help creators to maximise their potential.<\/p>\n

If 5G rolls out, and smartphone penetration improves, growth rates in this digital creator economy could be turbocharged, despite the already large base of users.<\/p>\n

Source: <\/strong>The post is based on the article \u201cUnshackling the creative sector<\/strong>\u201d published in the Business Standard on 12th<\/sup> March 2022<\/p>\n","protected":false},"excerpt":{"rendered":"

News: A report commissioned by YouTube (YT), provide a glimpse of the \u201ccreator economy\u201d in India. Scope of YouTube Channels in India YouTube platform hosts around 40,000 Indian channels with over 1 lakh subscribers and the number of channels earning revenues in excess of Rs 1 lakh jumped by 60 per cent year-on-year in June… Continue reading Unshackling the creative sector<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[10503,216],"class_list":["post-174008","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-business-standard","tag-gs-paper-3","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/174008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=174008"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/174008\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=174008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=174008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=174008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}