According to a new by independent consulting firm the YouTube creator ecosystem contributed Rs 6,800 crore to the Indian GDP oxford economics, The Google-owned online video platform also supported 6,83,900 full-time equivalent jobs in India in 2020 as per the report.
For those unaware, the term creative entrepreneur refers to YouTube creators with at least 10,000 subscribers on their largest channel and creators with fewer subscribers who receive funding directly from YouTube, along with their YouTube videos from other sources. Generate funds and/or permanently employ other people. To support their YouTube activities.
The report claimed that YouTube has become an important tool for small and medium-sized businesses (SMBs). “Whether through their own channels, targeted ads, or simply watching YouTube content, businesses have successfully increased sales and connected with customers,” the report said.
“More than ever, YouTube has become a valuable resource during the COVID-19 pandemic, providing a valuable lifeline to Indian citizens and businesses in times of isolation and social disruption. 69% of users said YouTube is a reliable source of information. The source has been the onset of the pandemic. Moreover, both in personal and professional life, YouTube enables Indians to acquire a wide range of skills and knowledge – to save money, gain qualifications or even a career to leap in,” the report says.
Speaking of YouTube’s financial contribution, Ajay VidyasagarRegional Director, APAC, YouTube Partnership It is heartening to see the real impact and impact of YouTube’s creative economy in India. The producer economy in the country has the potential to emerge as a soft force influencing economic growth, job creation and even cultural influence. As our producers and artists build the next generation of media companies that engage with global audiences, their impact on the overall success of the economy will only continue to intensify. We are laser-focused on our goal of providing an open, inclusive and responsible platform for millions of Indians who turn to YouTube to develop new skills, discover their passions, hone their talents and grow their businesses. turn. ,