by The creator economy in India refers to a network of independent professionals and entrepreneurs who monetize their talents and skills to produce and distribute unique digital content or services. The creator economy has gained immense popularity in India due to the ubiquity of smartphones and rising internet penetration. Creators leverage various social media platforms and applications to produce and distribute a variety of content including videos, music, education, food, lifestyle and more. India’s creator economy is expected to play a crucial role in creating millions of jobs and contributing significantly to the country’s GDP. The increasing number of digital platforms and online communities have empowered individuals to explore their creative potential as digital entrepreneurs.
Global India Creator Economy Market is estimated to be valued at US$ 976.0 Mn in 2024 and is expected to exhibit a CAGR of 22% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the India creator economy are YourQuote, Pratilipi, Khabri, Kalakaar, Vernacular.ai, Vokal, Ultra Media & Entertainment, Pocket FM, Krazybee, Kreateurs, Social Swag, Qoruz, Vyapaar App, Kutumb, BluSmart Mobility, Beatoven.ai, SimSim, Dunzo.
The rising youth population and increased adoption of smartphones are driving significant demand for unique digital content in India. Various social platforms and apps are empowering creators across different genres to generate revenue through their content and skills.
With hundreds of millions of internet users, India offers immense opportunities for creators to expand globally by catering to the diverse needs of regional and international markets through their digital offerings. Several India Creator Economy have gained popularity worldwide by offering content and services in different Indian languages.
Market Key Trends
User-Generated content has emerged as one of the major trends in India’s creator economy. Individuals are leveraging various platforms to produce and distribute content related to technology, entertainment, education and more. Democratization of content creation tools is making it easier for anyone to become a digital creator. Live streaming and short video formats are gaining immense popularity in India as creators can interact with their audience in real-time and distribute byte-sized engaging content. Data analytics is playing a crucial role in understanding consumer behavior and recommendations which help creators optimize content as per their target audience’s preferences. With personalized experiences and hyperlocal content gaining prominence, the India creator economy is expected to empower millions through innovative digital platforms and opportunities.
Porter’s Analysis
Threat Of New Entrants: The creator economy market in India is growing at a fast pace attracting many new entrants. However, the presence of established players and need for significant investments pose barriers for new entrants.
Bargaining Power Of Buyers: Individual content creators have low bargaining power against big platforms due to abundance of supply. However, top creators are able to negotiate better deals.
Bargaining Power Of Suppliers: Top content creators have considerable bargaining power against platforms due to their specialized skills and follower base. At the same time, platforms can switch to other creators.
Threat Of New Substitutes: New technologies like AI, AR, and VR can potentially disrupt traditional creator businesses. However, these substitutes are still in nascent stages in India.
Competitive Rivalry: Intense competition exists among platforms to attract and retain creators as well as audience. Players compete based on features, investments, commissions, and international expansion.
Geographical Regions
North India, especially Delhi NCR, Mumbai, and Bengaluru account for more than half of the overall market value due to higher disposable incomes and technology adoption. These metros are home to largest platforms as well as high creator concentrations.
South India, majorly Tamil Nadu and Telangana, is fastest growing on back of increasing digital connectivity in rural areas combined with growth of language-focused content across categories like education, humor and spirituality in native languages. Regional language creator bases are expanding rapidly in South.
What Are The Key Data Covered In This India Creator Economy Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the India Creator Economy Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the India Creator Economy Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- India Creator Economy Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of India Creator Economy Market vendors
FAQ’s
Q.1 What are the main factors influencing the India Creator Economy Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top India Creator Economy Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the India Creator Economy Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
