YouTube creator ecosystem contributed Rs 6,800 Cr to Indian economy in 2020

The report titled "A Platform for Indian Opportunity: Assessing the Economic, Societal and Cultural Impact of YouTube in India" shows that the YouTube creator economy in the country has the potential to emerge as a soft-power impacting economic growth, job creation, and even cultural influence.

Despite lockdowns and widespread economic disruption, YouTube helped generate 683,900 full-time equivalent jobs in India and the creative ecosystem contributed Rs 6,800 Cr to the Indian economy in 2020, says a new report by Oxford Economics.

The report titled "A Platform for Indian Opportunity: Assessing the Economic, Societal and Cultural Impact of YouTube in India" shows that the YouTube creator economy in the country has the potential to emerge as a soft-power impacting economic growth, job creation, and even cultural influence.

In India, over 80% of creative entrepreneurs said that YouTube has had a positive impact on their professional goals and 92% of SMBs with a YouTube channel agreed that the platform helps them reach new audiences across the world.

Other key findings include:

• 72% of creative entrepreneurs agree that the revenue they receive from ads placed on their YouTube content is an important source of income for them.
• As of June 2021, the number of YouTube channels earning at least Rs 100,000 in revenue has increased by 60% year on year
• More than 40,000 channels have over 1 lakh subscribers, an increase of 45% year on year
• Over 4,000 channels have over 1 million subscribers, an increase of over 50% year over year
• 94% of students (aged 18+) who use YouTube reported using YouTube to support their assignments or personal study
• 98% of users reported using YouTube to gather information and knowledge.
• 79% of users agreed that the platform had a positive impact on their mental health or physical wellbeing since the onset of the COVID-19 pandemic.

YouTube has been the bedrock of the creator economy in India, giving everyone a solid foundation upon which to construct their own success stories. These significant numbers are a testament to the resilience, resourcefulness and rigor of our creators, who have continued to show up for their communities with content that is entertaining, inspiring and even life-changing," Ajay Vidyasagar, Regional Director, APAC, YouTube Partnerships, wrote in a blog post.