According to a study by Oxford Economics, the creator economy of the video-sharing website YouTube contributed Rs 10,000 crore to India’s GDP in 2021. During the same time span, it supported more than 750,000 full-time equivalent jobs across the nation.
According to reports, in 2020, creators on the Google-owned platform supported 683,900 jobs and added Rs 6,800 million to the nation’s GDP.
Details about YouTube creators added Rs 10000 crore to India’s GDP in 2021
The study, which was released on Monday at the Google for India event, polled 4,021 individuals, 523 businesses from a variety of industries, as well as 5,633 YouTube creators of various sizes.
In India, YouTube is an integral part of daily life. Ajay Vidyasagar, YouTube’s Director of South, South East Asia, and APAC Emerging Markets, stated, “We are thrilled that YouTube’s creative ecosystem continues to propel India’s creator economy, supporting new jobs, and possibilities across the length and width of the country.
At the event, Google and YouTube introduced new products with an emphasis on AI and machine learning (AI/ML).
While Google claimed it was making significant changes to its text as well as voice search services, YouTube introduced two new features to expand learning and healthcare content on its platform.
Aloud, an AI/ML-enabled technology being tested by YouTube can subtitle and translate films into a variety of regional languages at no extra cost. Only a select few healthcare professionals can now access the feature.
We aim to truly democratize access to critical health information. Additionally, we are still committed to collaborating closely with healthcare professionals and investing in the technology that will allow them to produce multilingual content effectively and reach a large audience, according to Chatterjee.
In order to produce reputable material covering more than 100 conditions in languages like Hindi, Marathi, Tamil, Telugu, Kannada, Gujarati, Bengali, and English, YouTube said it will collaborate with more healthcare organizations, including Narayana, Manipal, Medanta, and Shalby.
The corporation said that the final translations are checked for accuracy by both the author and partner teams.
YouTube unveiled a new learning-focused feature called “Courses,” which enables producers to provide viewers with multi-session video lectures for certain topics and augment their video content with additional learning resources like PDF files.
According to YouTube, there are eight different ways for content producers to make money, and Courses will be an extra tool. Next year, certified artists in India will be able to provide viewers with either free or paid courses. India, South Korea, and the US will be the first countries where the feature is made available as a beta test.
Additionally, Google showcased some fresh voice search options. Project Relate, a new Android software that recognizes and interprets non-standard speech and enables people with speech difficulties to interact with Google Assistant, is one of the more significant advancements.
The Relate app’s Listen feature allows users to copy and paste the text into other applications while simultaneously transcribing their speech to text in real-time. With the use of a clear, artificial voice, the Repeat feature enables users to restate their sentences. The pilot-stage app also enables users to converse directly with Google Assistant. Services in Hindi and other regional languages will be offered in subsequent pilot phases.
According to Elizabeth Reid, Google’s Vice President of Engineering (Search), India will be the first country to provide the app service.
A user’s Lens-based visual query can be further honed using textual key terms with Google’s new multi-search functionality. Therefore, if you’re looking for a dress with a specific design, you may further hone your vision of the pattern by using keywords for the color, brand, or style of the garment you’re looking for.