India has 8 crore creators and knowledge professionals in the short-form video market. But only 1.5 lakh professional content creators are able to monetise their services in short-form video market effectively, a new report revealed.
Out of the 1.5 lakh professional content creators, the majority of them can earn anywhere between $200-$2,500 (more than Rs 16,000-Rs 200,000 per month), depending on the reach and engagement they can drive on respective platforms.
Less than 1 percent of professional creators (those with over 1 million followers) have the potential to earn anywhere between $2,500-$65,000 (more than Rs 53 lakh) per month, according to the report by Kalaari Capital, an early-stage, technology-focused venture capital firm.
Very few of these breakout stars are earning upwards of $100,000 (more than Rs 82 lakh) per month.
There are 50,000 professional creators on regional short-form video platforms in India and over 60 percent of their audience comes from outside metros, with regional content driving consumption, according to the report.
The 8 crore creators in India include content creators, video streamers, influencers, bloggers, creators on OTT platforms, physical product creators, and essentially anyone building a community around their niche.
The next evolution of the creator economy will now see the creators owning the relationship with their fans and customers. They will build direct monetisation channels with their fans and see the emergence of an entire ecosystem of creator tools and platforms that will allow them to function as a small business in itself.