Is Youtube an important source Income in Today’s world

by Subhechcha Ganguly

Considering becoming a YouTuber and starting to produce video for others to watch? However, it was forbidden by parents to pursue content production as a side business or search for a normal 9–5 job. The Oxford Economic report states that YouTube contributed 10,000Cr to the Indian GDP and produced 750,000 equivalent full-time employment in 2021, which is fantastic news for both aspiring and seasoned artists. From 2020, when YouTube contributed 6,800Cr to the Indian GDP and supplied 6,83,900 equivalent jobs, this number has significantly increased. According to Oxford Economics, they polled 4,021 YouTube viewers, 523 businesses, and 5,633 producers of all sizes for this year’s research.

“We are happy that YouTube’s creative environment continues to propel India’s creator economy, supporting new employment and opportunities across the length and width of the country,” said Ajay Vidyasagar, YouTube’s Director of South, Southeast Asia, and APAC Emerging Markets, in a statement. We’ve come a long way on this path, and we’re still devoted to giving creators fresh opportunities to interact with audiences across languages and increase their earnings.

The analysis covers YouTube’s direct and indirect effects, such as the direct monetization of the content through super-chat, paid collaborations, membership, etc., as well as the money that content creators spent on editing, producing, designing, writing, and other tasks. The survey also evaluated the earnings that creators derive from sources other than YouTube, such as product sales, commercial partnerships, or live performance engagements.In the research, it was said that “these off-platform revenues have a catalytic impact on the economy, driving further direct, indirect, and induced impact.”

YouTube plans to launch new monetization methods for creators next year via short-content monetization and ” courses ” where creators can teach topics and earn money. This comes as the competition among international tech giants and domestic Internet firms to attract creators to their respective platforms in the country heats up.

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