New Delhi, March 3 (SocialNews.XYZ) Indian short-form video market monetisation is at the cusp of a breakout and could potentially be an opportunity of $8-$12 billion by 2030, a report said on Friday.
Indian apps now compare well with global short-form apps and have a lead on content depth in three of the five top content genres, with significant differences in offerings around music/dance and dialogue/acting content, according to a report by Redseer Strategy Consultants.
The report projected the marketing spend on influencers to be worth $2.8-3.5 billion in 2028, from the current level of $0.35-0.4 billion.
"Currently, brands and influencers mostly engage via intermediary agencies - a model that is broken and lacks efficiency," said Mohit Rana, Partner, Redseer Strategy Consultants.
"There is a need for a tech-enabled, transparent and scalable solution. Creator marketplaces can bridge this gap", he added.
Globally, short-form video platforms and e-commerce platforms are increasingly focusing on video commerce to enhance customer engagement and boost sales.
In India, video commerce has just started, with short-form video platforms expected to capture 40 per cent of the $8-11 billion video commerce market in 2030.
Furthermore, the report showed that the preferred language for content consumption in metro and tier 1 cities is Hindi, followed by English and other regional languages.
It also observed that user-generated content (UGC) platforms are developing creator marketplaces that can become a centralised network for creators to connect with brands.
This can benefit both creators and brands, as it provides a platform for creators to showcase their work and for brands to find suitable creators to work with.
The report also highlighted that virtual gifting on short-form video platforms in India is expected to become $1.7 billion by 2030.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz