With 115 million daily active users, InMobi-owned Glance displaces Instagram to be the largest content consumption platform after Facebook and YouTube, according to a recent report.
The report, ‘What is Shaping India’s Digital Economy’ by Zinnov, a management consulting firm, revealed that while Facebook (175 million) and YouTube (135 million) are top destinations for content consumption, InMobi-owned lock screen-based content delivery platform Glance, is now the third largest with over 115 million daily active users (DAU).
Glance has surpassed Instagram, which has 36 million DAU, it added. Both Instagram and Glance did not comment on the story when Moneycontrol reached out.
The report was based on consumer research covering over 3000 respondents in over 30 Tier-1, 2, and 3 Indian cities and one-to-one interactions with stakeholders such as content platforms, and e-commerce players.
The study reveals, “Digital content forms are the biggest piece of India’s 500 million smartphone users’ daily Internet diet. This received a significant boost after COVID-induced lockdowns. Digital content is how brands are engaging with their users, driving large traffic to their sites.”
In this context, content creators and influencers are playing a key role as the boundary between content and commerce blur. The report backs this with data.
For instance, the report notes that 31 percent of the users see the videos posted by influencers as opposed to 24 percent who looked at reviews or demos or 24 percent who researched the brand or product seen in the video.
To tap into this growing market, e-commerce and payment platforms are also now embracing content in their quest for higher engagement. A prominent example is Flipkart launching ‘Ideas,’ ‘Videos,’ and ‘Games’.
Meanwhile, content players are moving towards converting consumer attention on their platforms into transactions. Case in point would be Instagram Shopping that lets creators and small businesses sell their merchandise within the app.
In India, a partnership with Reliance can potentially provide Instagram the capability to create an end-to-end play, across consumer-facing and supply side elements of building a commerce platform, the report added.
Homegrown apps like Roposo and Moj by ShareChat too have gained at the back of COVID-19 and also in part due to the TikTok ban.
TikTok was a key player in the social video engagement space and accounted for significant digital marketing spend. With its ban on June 2020, many new players have emerged overnight and the ensuing battle saw key players emerging in this space.Amid this, the report says, Roposo has managed to claim the lion’s share of the mega influencers from TikTok, and is likely to emerge as the go-to platform for influencer-led commerce in India. Glance owned entity Roposo has 106 million downloads, followed by Moj by ShareChat at 67 million downloads.
“With commerce models continuing the shift from search to discovery, local language and influencer-led video-first commerce is expected to see a hyperscale growth phase over the next few years,” Zinnov report said.Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.