Online video platform YouTube's ecosystem has contributed over Rs 10,000 crore to India's GDP and supported more than 7.5 lakh full-time equivalent jobs in the country, according to a report.
In India, over 4,500 channels had over 10 lakh subscribers and the number of YouTube channels in India making Rs 1 lakh or more in their annual revenue increased by over 60 per cent year-over-year in 2021, the YouTube Impact Report based on analysis by Oxford Economics said.
"YouTube's creative ecosystem contributed over Rs 10,000 crore and supported more than 7,50,000 full-time equivalent jobs in the Indian economy in 2021. That economic impact shows up in four ways, through direct, indirect, induced, and catalytic impacts," the report said.
YouTube recorded over 30 billion views in 2021 on just health condition videos and has decided to onboard healthcare institutions like Narayana Health, Manipal Hospitals, Medanta, and Shalby Multi-Specialty Hospitals to create and amplify credible content, covering more than 100 medical conditions, YouTube said in a blog.
Oxford Economics surveyed 4,021 YouTube users, 5,633 creators of all sizes, and 523 businesses to analyse the impact of YouTube in 2021.
According to the report, one of every two users currently working uses YouTube to help him or her develop skills to further their career and 45 per cent of users who are seeking a new job use YouTube to help them develop skills to get a job.
"As a global resource, educators, students, and parents are increasingly recognising YouTube as a beneficial supplement to traditional learning. 83 per cent of parents who use YouTube (or YouTube Kids for children under 13) agree that YouTube makes learning more fun for their children. 76 per cent of teachers who use YouTube agree that YouTube helps students learn," the report said.
The report said women often turn to YouTube to learn things that will enhance their everyday lives, whether it is practical skills like changing a tyre, concepts of personal finance, motivational advice, or helpful professional skills that will help them monetise their hobbies, pursue a career, or build a business.
It found that 77 per cent of female users agree that YouTube is a helpful platform for lifelong learning, 56 per cent of female users agree that YouTube helps them learn skills that help them in their everyday life, 90 per cent of female creators agree that YouTube helps them share their passions and ideas and 88 per cent of female creators agree that YouTube helps them be creative, according to the report.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
