The Creator economy has become a new byword nowadays, and more start-ups are coming up for content creators. Creator economy platforms are the riskiest yet most desirable bet for every Entrepreneur right now!
It’s turning into a red ocean day by day as creators are facing hefty competition in every niche because of the advent of platforms like Facebook, Instagram, TikTok, etc.
These platforms do give creators a chance to showcase their skillset and advertise it in front of a selected demographic. However, now creators are demanding more than just the freedom to create content. Content creators now want to monetize their skillset and earn a stable income to convert this side hustle into a full-time career option.
So, let’s find out some mindboggling facts about creator economy platforms in India:
- The surge in data consumption and smartphones: According to a report, it has been noticed that there are 637 million smartphone users in India, which is estimated to reach 900 million by 2026. India ranks at the top of the chart in the world when it comes to data consumption. Currently, on average, 15.7 GB of data is being consumed every month, which is most likely to reach 37 GB per month.
Yes, of course, the creator economy is changing the landscape of the Indian market, and every kid these days either wants to become a successful YouTuber or wants to start a business. Normal corporate people have found a way to start a side hustle and earn some extra income using their inert skillset.
- Social media users in India: Presently, there are 448 million social media users on different social media platforms. It is expected to reach 660 million by the year 2026. With the rise in the number of people using social media, there would be an increase in the number of people consuming the content, and also, new users will find a way to earn a stable income by just sitting at home.
This will lead to a lot of development, especially in rural areas, because people just need a smartphone and a good internet connection to create compelling content and earn something out of it. Unlike any other industry, the creator economy is different. It will bring growth to a lot of areas, like video editing apps.
- A Surge in the number of creators: In the last seven years, YouTube channels with 1 million subscribers have increased by 7400%. Currently, there are 1200 YouTube channels with over 1 million subscribers.
Now think for a while; this is just the scenario of YouTube. What about other YouTube channels like Instagram?
There has been a surge in content creators, especially influencers in different domains, who are partnering with brands. Moreover, as discussed above, if the number of social media users rises, then we will experience a surge in the number of content creators. As more and more people today are looking for an alternative form of income because of the high standard of living and a transition from physical workplaces to virtual.
- Content Monetization: In India, currently, there are 1,50,000 or 150k content creators who are able to earn a stable income from the content they post. These creators are earning somewhere between $200k to $2.5k per month.
With the increase in the number of content creators and users consuming the content, creators are demanding platforms that offer them the entire share of their income.
- Monetization platforms receiving funds: Over the past four years, content monetization platforms have received $2 billion in VC funding. When we talk about monetization nearly $200 million, has been raised in funding by different platforms.
Even platforms like Snapchat, TikTok, YouTube, etc., have made their own creator-focused communities to retain the content creators.
So let’s introduce you to CallXP, the world’s first digital toll line!
CallXP is a virtual interaction and conferencing platform to monetize the skillset of content creator monetization. Creators like Educators, entertainers, and consultants can join CallXP and start earning a stable form of income in just 72 hours.
Moreover, creators need to purchase an annual license starting with INR 14,999, and after that, they will be provided with a customized website according to their target audience. Content creators will be given their own Digital visiting card, which is linked to their website.
The virtual conferencing platform of CallXP will help content creators engage with their clients and followers via the admin panel.
For instance, if you are an Educator who teaches physics, then you just have to update the timing, date, and topic of the class on the admin panel. The students can directly join the admin panel by paying the required amount of fees.
Our virtual conferencing platform contains all the necessary tools required for a content creator to take a workshop, webinar or any type of interaction with the audience.