As per a report released on Friday related to short form videos, there is a possibility that a market of $8–$12 billion by 2030 may exist in the Indian short-form video market monetisation.
As per a survey by Redseer Strategic Consultants, when it comes to the short form apps, Indian apps now stand tall with the international ones. Indian apps also lead in terms of content depth in three of the top five content genres, with notable variations in offers around music/dance and dialogue/acting content.
Increased Short form Video Expenditures
The present level of expenditures on marketing influencers currently is $0.35 to $0.4 billion, this might rise to $2.8 to 3.5 billion in 2028 as per the analysis.
Mohit Rana, Partner, Redseer Strategy Consultants said that “Currently, brands and influencers mostly engage via intermediary agencies — a model that is broken and lacks efficiency”.
He added that “There is a need for a tech-enabled, transparent and scalable solution. Creator marketplaces can bridge this gap”.
He said that in order to improve the customer engagement and increase sales, short-form video platforms and e-commerce platforms throughout the world are putting more and more emphasis on video commerce.
Rise of Short Video in Video Commerce Pie
By 2030, the Indian market for the short-form video platforms is estimated to account for 40 percent of the $8–11 billion industry for video commerce.
Also moving a further deep into the languages. Then the survey revealed that Hindi, English, and other regional languages are the most frequently used languages for content consumption in metro and tier 1 cities.
It has also been observed that the user-generated content (UGC) platforms are developing creator marketplaces that can become a centralised network for creators to connect with brands.
Since this provides the platform for creators to showcase their work and brands to find a suitable creator to work with, this platform is a win win for both of them.
One more interesting highlight of the survey was the prediction that by 2030, the virtual gifting on short-form video platforms in India is expected to become $1.7 billion.
