Not long ago, YouTube was seen as a mode of entertainment. But, the narrative has changed. YouTube contributed Rs 10,000 crores to India’s GDP in 2021! Let’s explore which sectors are deploying YouTube to march stronger in the future.
What’s Happening?
According to a report by Oxford Economics, the number of YouTube channels earning more than one lakh rupees in India increased by more than 60% in 2021. Moreover, the platform has generated around 7.5 lakh jobs in the country.
In 2020, YouTube’s creator ecosystem contributed Rs 6,800 crore to India’s GDP.
During the lockdown, YouTube emerged as a source of employment. The platform has also become a medium of publicity for companies. Moreover, many sectors are getting direct benefits from this platform.
5 Sectors Benefitting From YouTube
- Education Sector
EdTech companies that offer curated classes for their students use YouTube to market their courses and reach a maximum number of students. They promote their products through demo classes. Moreover, many teachers offer online education through YouTube.
According to a report published in Amar Ujala, 83% of parents who use YouTube believe that the online platform makes learning more fun for their children and 76% of teachers agree that YouTube is helpful for online learning.
- Healthcare Sector
In a blog, YouTube said that in 2022, only videos related to health conditions were viewed more than 30 billion times. Given this, YouTube has decided to add healthcare institutes like Narayana Health, Manipal Hospital, Medanta and Multi-Specialty Hospitals to its platform this year. Through this, about 100 health conditions will be covered.
- Gaming Industry
According to the India Gaming Report FY22, the gaming market in India is expected to reach $8.6 billion by 2027 with a CAGR of 27%. It remained at $2.6 billion in the year 2022.
Moreover, in 2022, the number of gamers in India is more than 507 million, out of which one-fourth actively play games. YouTube has a separate gaming platform where only gaming-related videos are uploaded and viewed. Gaming channels were at the top of the most popular creators in the report released by YouTube in 2021.
- Media and Film Industry
The world’s biggest media houses use the YouTube partnership program to get their content out to as many people as possible. YouTube has given the media industry another means of making income. At the same time, YouTube has emerged as the most prominent medium for promoting films. From movie teasers to songs, they are first released on YouTube.
- Telecom Sector
According to Dainik Bhaskar, as of December 2020, YouTube had 425 million active users on android phones and tablets in India. Soon, it is expected to have 500 million users.
Internet users have exploded in India and have reached 600 million. Google, Facebook, Instagram and YouTube have played an essential role in boosting internet use and, in turn, the telecom sector.
What’s Next?
Companies and businesses have a healthy promotion and publicity option through YouTube. Moreover, YouTube as a platform is becoming a suitable medium of earnings for many in the country.
Over the years, YouTube has evolved with new features for viewers and creators.
We will see what the future holds for YouTube!
