Impact of IPL on the 'Digital Creator Economy'
Hey there, folks!?It's your friend from the media world, Vipul, back again with another edition of Leeds1888. This week, we're diving deep into the world of the Indian digital creator economy and the impact of one of the most beloved sporting events in the country - the Indian Premier League (IPL). Whether you're a die-hard cricket fan or just curious about the business side of content creation, you're in for a treat. So grab a cup of coffee and let's get into it!
The Indian Premier League, or IPL, is not just a cricket tournament, it's a cultural phenomenon for us Indians. Every year, millions of?fans tune in to watch their favourite teams battle it out on the cricket field. But the impact of the IPL extends far beyond just the world of sports. It has had a profound effect on the digital creator economy in India, creating new opportunities for content creators and generating significant revenue streams. In this article, we'll explore the monetary impact of the IPL on the Indian digital creator economy.
One of the most significant impacts of the IPL on the digital creator economy in India is the creation of new content opportunities. With millions of Indians watching the IPL, content creators have an enormous potential audience. From pre-match analysis to post-match reports, memes, music, vlogs and more,?there's a wealth of content that creators can produce around the IPL. This content can take many forms, from written articles to videos, podcasts, and social media posts.
So, I took a deep dive into the wild world of social media especially Youtube and Instagram during the 2022 season of IPL. Specifically, I checked out all the cool stuff that creators on YouTube and Instagram were churning out, and tried to put a value on it all. But, before we jump into the IPL content rabbit hole, let me give you a quick crash course on the Indian Creator scene.
Hold on to your hats, folks, 'cause this one's a doozy! According to a report by?Kalari Capital, there are a whopping 80 million content creators in India! But sadly, out of all those creators, only a teeny-tiny 150k are actually able to make some moolah off their content.
There are approximately 8,700 creators on YouTube and a staggering 140k on Instagram who have a following of 10,000 or more who can monetise their content.?
Top Content Genre on Youtube?
Top Content Genre on Instagram?
The Indian Premier League (IPL) is a treasure trove for content creators who specialise in Entertainment, Vlogs, News & Analysis, and Product Review categories. I like to call this squad the EVNR gang, and let me tell you, they have a field day during the IPL season!
During the 2022 season of IPL, I dug deep into the content of the top 100 creators on YouTube and Instagram, and here's what I found: Nearly 60% of the EVNR crew (that's the Entertainment, Vlogs, News & Analysis, and Product Review gang) were churning out regular content centred around cricket, teams, and players. And guess what? Their content was getting a whopping 30% more views and engagement during the IPL season! Talk about a grand slam!
Out of the 8,400 YouTubers who have a follower base of 10,000 or more, a whopping 70%, or approximately 5,880, are part of the EVNR squad. On Instagram, a whopping 45%, or 63,000 creators, are part of the EVNR category. These guys and gals are killing it on the 'gram!
According to the?Kalari report, the YouTubers and Instagram influencers who are able to monetise their content,?rake in an average of $200 USD per creator per month. Now, brace yourselves, because if we crunch some numbers, we can estimate that during the IPL season around 5,880 YouTubers and 63,000 Instagram creators create 60% of their monthly content around IPL, which garners a whopping 30% more views. This translates to a mind-blowing income of $10.75 million per month!
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And that's not all, folks! IPL seasons\ last between 60 to 75 days, or 2 to 2.5 months, which means that creators are able to use IPL to create content that's worth more than $25 million or 200 crores! Talk about hitting it out of the park!
Let me clarify that I've only taken into account individual creators and haven't factored in professional channels or studios who run various social media platforms. And let's not forget, during IPL season, these professionally run channels also churn out a ton of IPL-centric content and monetise it like there's no tomorrow!
Just to be on the safe side, I've used a baseline earning of $200 USD per creator per month. But wait, there's more! Take Bhuvan Bam, for instance, a YouTuber who creates comedic videos around the IPL and has over 22 million subscribers. This guy is raking in an estimated $120,000 per month from YouTube alone! Mind-blowing, right?!
When it comes to the IPL, one type of content that has really taken off is memes. In India, memes have become a cultural phenomenon and the IPL is no exception. Social media platforms like Twitter, Facebook, and Instagram are flooded with memes about the players, teams, and games during the tournament. For creators, this presents a unique opportunity to connect with their audiences on a deeper level and showcase their skills.
But memes aren't the only thing that's popular during the IPL. Music and songs have also become a huge part of the experience. In addition to the tournament's official anthem, many creators have produced their own songs about the IPL, often incorporating IPL-specific lyrics into popular Bollywood tunes. These songs are widely shared on social media and many creators have been able to monetise them through streaming services like Spotify and YouTube.
According to a report by?Zinnov, the Indian digital creator economy is expected to reach $1.2 billion by 2025. The IPL is playing a significant role in driving this growth, and we can confidently say that the creator economy around the IPL is worth around 200-500 crore (in Indian rupees) and growing !
I hope you enjoyed reading this analysis on how IPL is impacting the rapidly expanding creator economy. Though $20-50 million may seem like a modest figure, it won't be long before it skyrockets into the hundreds of millions of dollars in the years to come.
Pearls from the Past
Did you know that the world’s first televised sports event was the?Berlin Olympics?in 1936. It was a 72-hour long, live coverage that saw American Jesse Owens win the 100-meter final race!?
With this fascinating piece of information, I bring today's newsletter to a close and promise to bring another exciting topic next Friday. Until then, keep reading.
Cheers,
Vipul