According to a report by Oxford Economics, YouTube generated ₹6.8k cr to the Indian GDP and 683,900 “full-time equivalent” jobs in 2020.
With over 100,000 subscribers to 4,000 YouTube channels has generated a growth of over 45%, y-o-y.
The revenue generated from YouTube ads is a crucial source of income for 72% of creative entrepreneurs in India.
YouTube has positively impacted 80% audience in professional goals.
Also, 63% audience received opportunities away from the platform.
Youtube generated a positive impact through brand partnerships, live performance, and others.
YouTube’s contribution to Indian GDP
Ajay Vidyasagar, regional director Apac, Youtube Partnerships, said in a statement,
“The creator economy in the country has the potential to emerge as a soft power impacting economic growth, job creation, and even cultural influence.”
“As our creators and artistes build the next generation of media companies that are connecting with a global audience, their impact on the economy’s overall success will only continue to accelerate.”
As numbers are yet to consolidate for 2021, Vidyasagar said that creators had discovered new ways to monetize revenue, at a media roundtable.
Youtube supporting jobs and educational activities
Ajay Vidyasagar further said that growth in YouTube diversity such as cooking, learning, gaming, and technology generates a creator economy.
As per the report, 81% of educators using YouTube believe it gives students the flexibility and space to learn.
Additionally, 94% of students aged 18 plus used YouTube for completing assignments and personal study.
59% of users are job seekers and use YouTube to develop new skills for the job market.
Various users actively used YouTube to gain information and knowledge.
Last year revenue rose more than 60% for YouTube channels, making six figures.
Is the pandemic increasing Youtube users?
YouTube has empowered creative professionals to pursue their professional goals for more than 14 years.
CEO Oxford Economics Adrian Cooper said, “this report is the first of its kind to unpack and quantify the economic, societal and cultural impacts of the YouTube ecosystem in India.”
“Our research shows that YouTube fosters significant positive impacts for Indian creators in terms of helping them achieve their professional goals and grow their businesses.”
Also, 79% of users found YouTube positively impacted physical and mental well-being since the pandemic.
He also said, “if you think about YouTube as 100%, about 50% of what we are is really the creator economy, 25% is the media ecosystem.”
“The entire media and the music piece is what the world is familiar with and the entire creative economy is really what flourished, thanks to platforms like YouTube.”
Creators such as graphic designers, producers, video editors, film and sound equipment makers generated indirect economic impact.
Creators generated revenue by spending money on goods and services to produce content for the platform.
With YouTube generating ₹6.8k cr to the Indian GDP, various job opportunities emerge for users. Despite the pandemic, YouTube is positively impacting the youth of India.