According to a recent report done by Oxford Economics, Youtube’s content creators contributed Rs.6800 crores to India’s GDP in 2020
Creator economy is the ecosystem where money is made by creating content. It is powered by individual creativity and large tech platforms.
According to the Oxford Economics report, Youtube helped create 6.83 Lakh full-time equivalent jobs in India. Platforms like Facebook, Instagram, Snapchat and other Indian players have allocated funds to pay these creators. They also earn through ad revenue, subscriptions, royalties, brand collaborations and NFTs.
Apart from the people we see on our screens, editors, designers, animators, videographers and other technicians also have been able to find many opportunities to earn in this ecosystem.
Finance Minister Nirmala Sitharaman mentioned in her Budget speech, the importance of promoting creativity. She also spoke about setting up an AVGC promotion task force to meet our market needs and global demands.
