In the backdrop of World Social Media Day, Shashank Shekhar, Senior Director, Content Strategy & Operations, ShareChat and Moj, gets in conversation with Social Samosa. Shekhar shares how the Indian creator economy has expanded to an INR 900-crore business, how short-form videos are performing well, and the increase in content consumption in Indic languages.
Edited Excerpts:
As World Social Media Day approaches, how do you think the role of social media has changed in the Indian users’ lives? Especially in the Tier II & III cities?
There has been a fundamental shift in the media consumption habits of Indian consumers as they are looking for variety, contextual relevance, and quick delivery of content. The pandemic has acted as a further catalyst in this shift. Social media has become a critical platform for consuming content for users across various geographies and demographics in our country. With the increasing internet penetration and access to language-enabled devices and platforms, more Indians are online, and content creation has become more democratic.
The Indian creator economy has expanded to an INR 900-crore business. By 2025, it is expected to grow to INR 2,200 crore – a whopping CAGR of 25%, according to GroupM INCA’s India Influencer Marketing Report.
Content creation is no longer just a hobby, it’s a sustainable career option for the talented youth of our country. Gen Z is internet savvy, active on social media platforms, and a key participant in the creator ecosystem. With a pivotal shift in consumer behaviour, brands are also rapidly adapting to this change. When brands face the uphill task of forging a loyal bond with their customers, creators manage effortlessly through their content’s authenticity and relatability. Social media influencers and creators are increasingly being factored into the marketing mix and sometimes taking the lead in brand campaigns.
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