YouTube invested ₹210 billion in India's Creator Economy, commits ₹8.5 billion more
During his address, Mohan underscored India's emergence as a "Creator Nation." He highlighted that over 100 million channels in India uploaded content in the past year, with more than 15,000 channels surpassing one million subscribers. He also noted that content produced in India garnered 45 billion hours of watch time from global viewers last year.
"YouTube's ability to connect a creator anywhere with audiences everywhere has made it a powerful engine of cultural export, and few nations have leveraged this as effectively as India," Mohan said.
The investment aims at enabling Indian creators to further monetize their content and expand their global reach, fostering a thriving ecosystem for digital innovation. It also underlines YouTube's confidence in India's growing digital landscape and its potential to drive economic growth through creative entrepreneurship.
As per consulting firm Ernst and Young (EY) data reported previously by Mint, India's creator economy industry is projected to grow at an 18% compound annual growth rate. It is expected to increase to ₹ 34 billion by 2026, up from ₹ 19 billion in 2023.
In March, the the Union minister of information and broadcasting Ashwini Vaishnaw also announced a $1 billion fund for India's creator economy along with an Indian institute of Creative Technology in Mumbai.
In his Waves speech, Vaishnaw highlighted that the institution will become a a national hub for the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sector, has already commenced work and have aligned with a few global tech and media giants for collaborative efforts towards IICT. He added that it included companies like Nvidia, Google, Apple, Microsoft, Meta, Star India and Adobe.
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