India to have largest content creator base
: India is set to have the largest base of social media content creators globally with the figure crossing 100 million this year, according to influencer marketing firm Zefmo. This follows venture capital firm Kalaari Capital stating in October that the country had at least 80 million creators in 2022.
Zefmo said, in a report on Sunday, that the organized influencer marketing sector is set to reach 3,000 crore in FY24, while the revenue share of micro-influencers will rise from 9% this fiscal to 14% in FY24. It also noted that payouts to influencers from brand campaigns is growing, as are the length of brand campaigns. Kalaari had said in a report that only about 150,000 of India’s creators were able to earn over $200 per month. Typically, a micro-influencer is someone who has between 1,000 and 100,000 followers.
Despite the rise of Indian short video platforms in the last two years, the Zefmo report found that YouTube and Instagram remained the top choices for social media influencers. While YouTube accounted for 38% of the market, Instagram made up 11%, followed by Twitter and Facebook at 6% and 9%, respectively. The report also found that 53% of brand campaigns on social media came from fast-moving consumer goods (FMCG) brands, while direct-to-consumer and electronic device firms comprised 14% and 9% of brand campaigns, respectively. Brands are tapping into hyperlocal micro influencers‘ to boost connection, especially through the short-video format, the report said.
Hindi remained the preferred language for brands, followed by English and other regional languages.
“These influencers are at the heart of the creators’ economy and will dictate the content creation trends in times to come," said Shudeep Majumdar, co-founder and chief executive officer at Zefmo.