BENGALURU: With an endless feed of videos to scroll through, Indian short-video platforms are attracting new users, as a new study suggests that over 50 million users in the country have posted at least one short video.
Thanks to the Indian short-form videos (SFV) market as it is dominated by Moj, Josh, Roposo and Zili, among other players, apart from Instagram and Facebook Reels and YouTube Shorts. Before the ban, TikTok used to be the largest player in the short-form video market in India. Many SFVs in India accelerated their growth after the TikTok ban.
A recent report by Bain & Company says that over 200 million Indians watched short-form videos at least once in 2020. Top brands too have started using short-video platforms to reach out to their customers. Flipkart recently announced its association with Moj, which has monthly active user base of over 160 million members.
One of the main aims of this collaboration is to provide users with a seamless content and commerce experience on Moj as they can buy tagged Flipkart marketplace products directly from the video screen.
Manohar Singh Charan, Chief Financial Officer, Mohalla Tech, the parent company of Moj, said the creator economy-led revenue streams are globally seeing a massive upsurge. "With the explosive growth our app has had since its launch, Moj has become home to the zeitgeist of the Indian youth," he said.
Bain & Company report says that daily active users spend up to 45 minutes a day on these platforms, and by 2025, 650 million Indians will consume short-form videos. The SFV market in the country has grown 3.5 times in user base and 12 times in total time spent by all users on SFV platforms.
Augmented Reality based social media network Flam Founder Shourya Agarwal said, "The world will never go back to pictures and text the same way, as short videos are already a thing of masses with hundreds of millions of creators and consumers. Going forward, people will move out of smartphones and move to more immersive 3D content with camera-first interfaces."
The future of SFV market will be dominated by tech-enabled hyper-personalisation and social-led engagement, a monetisation boom, innovations to onboard the next wave of users, emergence of a robust creator ecosystem, and birth of niche platforms within short video ecosystems, adds the report.
Streaming on screen
650 million Indians are expected to consume short-form videos by 2025
200 million Indians watched short-form videos at least once in 2020
Daily active users spend up to 45 minutes a day on short-video platforms
SFV market in India has grown 3.5 times in user base and 12 times in total time spent
Instagram, Facebook Reels, YouTube Shorts
Moj, Josh, Roposo, Zili