By 2025, 67% Indians Will Have a Short Video App on Their Phones

TikTok has long gone from the Indian market, but the seed it sowed for the short video in the Indian market is all set to transform into a colossal tree. According to the report released by RedSeer in July, the short video market is expected to provide a monetization opportunity of more than $19 billion to the Indian economy by 2030. Currently, 300 million people are using the short video platform apps in the country, which is expected to increase to 600 million in the next 3-4 years. 

COVID pandemic has played a significant role in boosting the craze for short video apps among the population. Due to the same, the consumer’s attention spans have become significantly shorter. Netflix and Amazon Prime are premium content platforms and thus have to charge their users for the services and content they provide. So, it can never match the business model of short video platforms in which the content is anonymous,  easy to make, and available entirely free of cost. 

Another significant difference observed in the popularity of short video platforms is that most of its user base comes from rural areas.

As of the current statistics, 35% of the total users come from rural areas. 30% belong to non-metro urban areas while only 19% come from metro cities. 

Further, the reports said that 1% of digital advertising is spent on short video platforms. This percentage might rise to 10-20 by 2030. From a total of proposed $19 billion, advertising alone may account for the advertising in short video platforms by 2030. 

Short form video content apps may garner the interest of advertisers for raising awareness on new product/service and offers, especially for those brands that wish to cater to the Tier-II and tier-III audiences. 

Raja Lahiri, partner and TMT leader at Grant Thornton Bharat

So, the short video platforms and market is experiencing surging growth, and becoming a part of this industry can be a profitable step. If you also have an idea to develop a similar app and witness professional growth, Emizentech can help in this journey of yours. Get in touch with us for a free consultation.