Since the last 15 years, Indian creators have used YouTube to showcase their talents and share their stories. Pushparani Sarkar is an 80-year old grandmother from West Bengal who shares her recipes on YouTube. She's preserving food, tradition and culture in the area. Santosh Jadhav and Akash Jhadhav, two farmers in Maharashtra, share their Agritech tips with other farmers. They are boosting productivity. Khwaja's Moinuddin videos on YouTube help feed hundreds of Hyderabad orphans.
Ishan Chatterjee from YouTube India, the director of the company, delivered a keynote speech at FICCI Frames, which is currently taking place. He gave an insightful overview of YouTube's impact on our lives. "Today, anyone who owns a mobile phone can not only create a video but also review it, recreate it in different formats and react to it. On YouTube, the line between a creator and a viewer of a video is blurring. YouTube helps to mainstream niches, from car enthusiasts in Kerala, who are interested in public transport, to artists such as the Tetseo Sisters, who sing in Chokri, a tribal language, to mental health groups, and even stay-at-home parents, who turn everyday chores into useful content. Our creators not only help millions of Indians learn about new topics, fuel their aspirations and discover new things but also make a living. Thanks to the YouTube Partnership Program, thousands of Indian creators continue to monetize knowledge, talent and expertise. This has a ripple affect on the economy. According to the Oxford Economic Study, YouTube's creator ecosystem will contribute more than 10,000 crores in 2021 to India's Gross Domestic Product (GDP) and support the equivalent of 75,000 full-time jobs. He told the audience that YouTube had paid out more than $50 billion in the past three years to creators, partners and other parties around the globe. In the calendar year from July 2021 to Juni 2022, YouTube paid over $6 billion in payments to the music industry. Over 30% of this came from user-generated content. In January 2023 the top 1000 videos on YouTube Shorts had more than 280 billion global views. In terms of commercial success, Indians' digital behavior continues to change. As more Indians engage in online commerce, there will be new business models.
YouTube will offer creators more ways to monetize content other than ads. This includes expanding subscriptions, investing in shopping, and expanding the fan-funded monetization options.