Chingari Vs. YouTube: The Monetization Battle?

Chingari trying to one up YouTube in Creator Payouts???

Have you heard of the “Prior Idiots Phenomenon”? Coined and conceptualized by Bobby Ghoshal (Co-founder, Carrot) and Nick Stamas (Ex-WeWork), this phenomena talks about new employees joining an organization and instantly dubbing currently placed processes as, well-“idiotic.”?? They do not take the time to understand why those processes were integral to the system and instead think that the previous employee did not do things the right way and was probably not good at what they do.

But how could this possibly be related to Chingari???

India’s short video platform- Chingari? , powered by GARI, introduced a novel monetization plan for creators. While we have an array of varied content present on the internet that is produced with utmost effort to create value or entertain, monetization opportunities remain restricted. GARI’s initiative allows users to avail a subscription for as low 20 rupees!??

But, what makes them stand out?

The Gari mining program will facilitate creators and users to earn via crypto currency?? that can be claimed in their wallets! The native crypto token-GARI will be rewarded for carrying out activities like uploading, sharing and engaging with content on the platform. ????Sumit Ghosh (CEO and Co-Founder, Chingari) was of the belief that these subscription plans are a giant leap forward for creators who toil to monetize their work.

YouTube was the first to bring about the business model of monetizing short-form content by running ads in between them, in the form of Shorts. ??Additionally, since music plays an important role in providing an all-rounded experience, the YouTube Partner Program went one step ahead and simplified music licensing for creators as well.??

Based on the total number of views on their Shorts videos and the total revenue generated from ads, YouTube claimed that they will receive a large share- 45% of the returns. Chingari, on the other hand, is set to claim only 5% for every transaction on the platform using GARI tokens as a part of its revenue.??

Coming back to the “Prior Idiots Phenomenon,” we come to realize that things are set to be a certain way because they work better then. In the case of YouTube and Chingari, there has been a reversal of “Prior Idiots Phenomenon”. Chingari, being the newer platform, has taken time to understand this fantastic business model and the very integral processes we spoke about and made it better.??

As much as doing things the “right way” is objective, what is right for each of us will always remain subjective. In a constantly growing space like that of the creator economy, each win comes with learning from one another and getting better at being enablers, each day.??

Have you ever witnessed a “Prior Idiots” moment? Let us know in the comments below!??