YouTube creators contributed Rs 6,800 cr to Indian economy in 2020

Mumbai: YouTube’s growing creator ecosystem is generating considerable economic value for the indian market and contributed Rs 6,800 crore to the country’s GDP, while supporting 6.83 lakh full-time equivalent jobs in 2020, the Google-owned platform said on Thursday.
With the number of channels in India with more than 100,000 subscribers now at 40,000, marking a growth of more than 45 per cent (on-year), more Indian creators are finding opportunities and audiences on YouTube, often leading to new doorways away from the platform, according to a new report by Oxford Economics that assessed YouTube’s economic, societal and cultural impact in the country.
“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, APAC, YouTube Partnerships.
In addition to the revenue generated on YouTube, a creator’s presence on the platform can help them get a global fanbase, push boundaries and explore multiple revenue streams through brand partnerships, live performance etc.
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With eight different ways to monetise content on the platform, the number of YouTube channels making six figures or more in revenue is up more than 60 per cent (on-year).