In a world where the internet and social media have become integral parts of our daily lives, the concept of the creator economy has taken the world by storm. No longer are creators limited to traditional avenues. Instead, they now have the power to showcase their unique talents and passions and build a successful career on their own terms.
From influencing decision making on Instagram to voice narration on Spotify and Pocket FM, the opportunities for content creation are endless. In a world where the attention economy is at an all-time high, creators have the ability to capture the hearts and minds of millions of people with their unique art of storytelling and content presentation.
Thanks to the platforms that are boosting the creator economy in India. Here’s a list of the top five internet companies that are empowering the creator ecosystem in the country.
Pocket FM: Founded in 2018, Pocket FM is an audio series platform with its presence across 20+ countries including India and US. Being the only audio entertainment OTT specialises in audio series – a long-form serialised fictional storytelling, it has become the default destination for writers and voice artists to showcase storytelling skills. On an average, every audio series has 800+ episodes powered by its community of 500,000+ creators across the world. Pocket FM is committed to nurturing creative talents across the world and driving them toward a sustained creative economy, and is an open stage for every writer to explore the potential of its global exposure.
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Spotify: Spotify, one of the largest music streaming service providers has been tremendously focusing on the podcast market and growing its creators’ community worldwide. Through its initiative RADAR, they are deepening its commitment to emerging creators and strengthening their connection to audiences. With this program that has launched in 15 markets, they are highlighting over 30 creators around the world, including the U.S. and other countries where podcasting continues to expand—such as Brazil, Argentina, India, and the Philippines. With this initiative, every quarter, the app’s podcast editorial team selects three up-and-coming creators in each participating market to shine a light on.
YouTube: YouTube is quite popular among creators for its good returns and benefits. From time to time, the platform has been actively coming up with different features and initiatives for its creators. Recently, it announced its initiative to benefit shorts creators. It is all set to include new modules such as ‘Shorts Monetisation Module’, which allows creators to start making ad revenue on Shorts. Shorts-focused creators can apply to YPP by meeting the minimum requirement of 1,000 subscribers and 10 million Shorts views over 90 days. As quoted by the brand, over the last three years, YouTube has paid creators, artists, and media companies more than $50 billion dollars (through the YPP).
Instagram: Instagram is another well-known platform amid creators popular for its huge outreach and thus it has been attracting talent massively. Instagram has been at forefront to help creators get a better understanding of key posting best practices and processes. Last year, it started a new initiative dedicated to the growth of creators’ named Creator Lab, which hosts videos and insights from a range of successful creators on key elements. The platform also guides its users on channel growth tips, monetization, safety notes and more, all hosted by established Instagram stars.
Moj: Moj is a homegrown short-form video app owned by Share Chat with 12 million monthly active creators created over 750 million videos in 2022 on the platform. Launched in July 2020, Moj “witnesses 3 million content uploads every day that garner close to 6 billion views daily”. As per its year-end round-up, the platform created around 150K earning opportunities for Indian creators through challenges, collaborations and virtual gifting. Around 2 million ‘Moj LIVE’ streams have taken place since its launch in July 2022. For their imaginative and interesting material on Moj LIVE and short videos, Moj creators receive financial compensation in the form of Mints, the platform’s own currency. The platform also allows creators to exchange their Moj Mints for real money.
In conclusion, the rise of the creator ecosystem in the social media and entertainment landscape has revolutionized the way we consume content and has provided new opportunities for individuals to monetize their talents and passions. Whether it’s through showing skills on social media or making the world tuned into its voice, these creators are dominating the internet consumption across the world, thereby building a loyal community of followers and fans.
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