YouTube’s Creative Ecosystem contributed to Rs 6800 Cr to India’s GDP: Oxford Economic Report

A recent Oxford economic report showed that Google’s video sharing platform “YouTube” has contributed immensely to India’s economy adding Rs 6800 crores to the country GDP in the year 2020.  A recent report released by Oxford economics is based on the economic, societal and cultural impact of YouTube in India, it gives a detailed analysis of how the YouTube creative ecosystem has helped in the Indian economy and how many entrepreneurial opportunities it has created in the country by helping businesses to grow their customer base.

According to the 2021 @OxfordEconomics Report, YouTube’s creative ecosystem has significantly contributed to the Indian economy in 2020. These numbers shed light on creators’ efforts to inspire their viewers with their content, while #CreatingForIndia. https://t.co/vYh0at8ILQ pic.twitter.com/S1XTPA5yJD

— YouTube India (@YouTubeIndia) March 3, 2022

The YouTube creative ecosystem consists of independent content creators, an organization or any small to mid sized team of creators who share their content on the youtube platform and that content is consumed by millions of people every day, the YouTube creative ecosystem has thus supported 683900 full time jobs in the country.

As per Alexa Internet, The “YouTube” is ranked number 2 among the most popular sites in India, the video sharing platform helps millions of people in learning new skills, enrich their lives and grow their businesses everyday. With such a staggering user base, youtube has provided a rich platform for the creative entrepreneurs to use the platform to pursue their professional goals enabling them to share their passions and ideas with a wide audience, and make an income whilst doing so. “In India, over 40,000 channels have over 1 lakh subscribers, an increase of over 45%, year over year” the report mentioned. 

“A principal source of YouTube’s economic impact is the revenue the platform redistributes to its creators, which can include ad sales, payouts from eight alternative monetisation features such as channel memberships and Super Chat, and royalty payments paid to music and media companies. We refer to the profits and earnings of those creators as the YouTube ecosystem’s direct economic impact in India.” mentioned the report.

“When India was affected by COVID-19, YouTube worked closely with authoritative organizations and creators across the country to provide fact-based, trustworthy information in multiple regional languages, in addition to English and Hindi” the report mentioned.

“Indian users go to YouTube to learn about their cultural heritage and traditions, and can do so in their native language” the report mentioned.

The report further mentioned that the YouTube is enriching the classroom education in India with students, teachers and parents are recognising the benefits of Youtube as an education tool by providing free & engaging educational contents to households across the country.

The reports shared the data that 80% of creative entrepreneurs believe that YouTube has had a positive impact on their professional goals. 63% of creative entrepreneurs agreed that being on YouTube has brought them opportunities away from the platform. Over 4,000 channels have over 1 million subscribers, an increase of over 50%, year over year.

The reports further mentioned the inspirational case studies of the top Youtube creators across the country, how they have started their journey, their content and how the platform has helped them to reach millions of people and helping them build & expand their business.

Neeraj Chopra, Don’t Memorise, InteriorMaata, Apollo Hospitals, Tatseo Sisters, Armaan Malik, were among the few creators journey was shared by the oxford report.