More Indians are watching and creating short videos even without TikTok, which was banned last year in India due to national security issue.
And this is thanks to the many Indian platforms that are keeping users engaged.
In fact, new users in the short video space in India have grown by 20 percent post the TikTok ban, according to a report released by RedSeer on Wednesday.
Currently, at 240 million userbase, the number of users in the short video space is estimated to increase to 650 million by 2025 which will make the space second to television in terms of reach.
This growth is largely expected to be driven by the new 300 million internet users that will be added by 2025, said Ujjwal Chadhury, associate partner at RedSeer.
If we look at TikTok, India was its largest overseas market where its monthly userbase was estimated at 124.9 million. While TikTok claimed it had more than 200 million users in India, the number was based on total users who downloaded the app which will be larger than users who use the platform monthly.
At present, monthly active users (MAU) in the short form space is 1.2x compared to pre-Tik Tok ban and daily active users 1x compared to pre TikTok ban.
The top platforms in this space include Indian apps like MX Taka Tak which has so far has registered over 150 million MAUs, Moj has 120 million and Josh has around 85 million MAUs.
With more users coming on board, time spent on short video platforms is also increasing.
Indians are spending more time on short videos
From 9.3 trillion minutes last year, time spent has increased by 40 percent to 13 trillion minutes on short video platforms.
It is expected that short video space will become the second largest platform by time spent in one year and will take over video streaming platforms.
What is also interesting is the rise of many made in India short video sharing platforms that have given more opportunities to the content creator community in India.
More content creators than TikTok days
On the new platforms, short form content creators are 2x as compared to pre-TikTok ban.
From 20-25 million content creators in June 2020, the number of creators on short video platforms have grown to 40-45 million. And the growth is led by creators coming from smaller towns and cities.
"When it comes to content monetisation, creators are also getting paid a lot more than TikTok days because of the intense competition in the space. Aspiring creators with less than 500,000 followers we are seeing them making Rs 40,000 every month to elite creators making Rs one to Rs 1.5 lakh a month and super elite creators earning north of Rs five lakh a month. So, creator incomes have gone up significantly," said Abhishek Gupta, Engagement Manager at RedSeer.
The aspect that creator income has gone up doesn't come as a surprise because brands are also spending more these platforms and more brands are associating with short video platforms.
Brands are betting on short video space
Pepsi recently had a campaign on MX Taka Tak, Josh did an offline event for a brand, added Gupta.
Another short video platform Moj had partnered with Fanta during Holi festival this year for a week-long campaign.
As even traditional categories like food and beverage brands are taking note of the short video space, it is expected that Indian short-form sector can take up to 20 percent of the digital ad market share by 2025.