Indian shortform apps are catching up to global players in popularity and usage. In recent years, several homegrown short-form video platforms such as Moj, Josh, and Chingari have gained popularity in the country’s growing creator ecosystem, with global players such as YouTube Shorts and Instagram Reels only broadening the growth of the ecosystem.
Moreover, with the ban on TikTok, many Indian shortform apps have emerged as alternatives, attracting millions of users. This has led to intense competition among these platforms, resulting in the development of innovative features and better user experience. Further, our report suggests that Indian short-form video (SFV) market monetisation is at the cusp of a breakout and could potentially be an opportunity of $8-12 billion by 2030, owing to an increase in the adoption and usage of smartphones. The report also observed that user-generated content (UGC) platforms are developing creator marketplaces that can become a centralized network for creators to connect with brands. This can benefit both creators and brands, as it provides a platform for creators to showcase their work and for brands to find suitable creators to work with.
The report also projects virtual gifting on short-form video platforms in India to become $1.7 billion by 2030.