On-line video consumption has skyrocketed amid the coronavirus pandemic as ‘work-from-home’ turns into the norm. India’s on-line video consumer base has scaled to greater than 350 million individuals, rising 24% over 2018 to 2020.
Time spent on online videos per daily active user per day has increased by 60% to 70% over this period. Arpan Sheth, accomplice and world chief of Bain & Firm’s Vector Options Group, in a press release, mentioned,“India has a big digital neighborhood, with about 640 million Web customers and 550 million smartphone customers which is quickly rising and spending extra time on-line. Smartphone customers spend about 4.8 hours on their gadgets each day, of which a staggering one hour on common is spent consuming movies. Regardless of this fast growth, there exists large headroom for development—on-line video consumer penetration in India is almost 60% of Web customers, in contrast with greater than 90% in China.”
More than 200 million Indians watched SFVs at least once in 2020, with an active user spending up to 45 minutes a day on these platforms. By 2025, three in four internet users, or 600 million to 650 million Indians, will consume SFV, on average spending up to 55 to 60 minutes per day on SFV platforms. However, India’s short video user base has historically been largely men from Tier 2 and smaller towns, but this is evolving quickly, with the medium gaining traction in metros and amongst women.
TikTok became the first scale SFV platform in India, with more than 200 million users and 20 million content creators posting at least one video a month. This robust base of creators is key to attracting users. India has more than 50 million users who have created and posted at least one short video. Content creators are active on multiple platforms and are increasingly monetising their follower base through brand collaborations and commerce.
Rice short videos
The Indian SFV market is now occupied by a mix of specialist made-in-India short form video apps like Moj, Josh, MX TakaTak, Roposo, Zili. These apps have more than 100 million downloads each. Content creators are active on multiple platforms and are increasingly monetising their follower base through brand collaborations and commerce. All this is giving rise to a robust creator economy—an enabling ecosystem of players helping creators with content creation, monetisation, financing, and business management.