The ecosystem around YouTube boosts India’s GDP by Rs 10,000 billion.
According to research, the ecosystem of the online video Youtube Platform has supported over 7.5 lakh equal full-time employment in India and added more than 10,000 crore rupees to the GDP. According to the YouTube Impact Report, which was based on research by Oxford Economics, over 4,500 channels in India had more than 10 lakh viewers, and the number of channels earning Rs 1 lakh or more per year climbed by more than 60% in 2021.
“In 2021, the creative ecosystem of YouTube supported over 7,50,000 full-time equivalent employment and provided over Rs 10,000 crore to the Indian economy. According to the paper, economic influence manifests itself in four ways: directly, indirectly, induced, and catalytically.
YouTube said in a blog post that it has chosen to partner with healthcare organizations like Narayana Health, Manipal Hospitals, Medanta, and Shalby Multi-Specialty Hospitals to produce and promote reliable content covering more than 100 medical conditions. In 2021, YouTube recorded over 30 billion views on health condition videos.
In order to analyze YouTube’s influence in 2021, Oxford Economics polled 4,021 YouTube subscribers, 5,633 producers of various sizes, and 523 enterprises. One in two presently employed users uses YouTube to assist them in acquiring skills to advance their careers. In contrast, 45% of people looking for new employment use YouTube to assist them in developing skills to find employment.
“Teachers, students, and families are rapidly realizing the value of YouTube as a worldwide resource to complement classroom instruction. 83% of families who use YouTube (or YouTube Kids for kids under 13) concur that it increases their kids’ enjoyment of learning. 76% of educators who utilize YouTube concur that it aids students’ learning “says the research.
According to the report, women frequently use YouTube to learn skills that will improve their daily lives, whether it’s practical knowledge like how to change a tire, personal finance concepts, inspirational guidance, or useful professional information that will assist them in monetizing their hobbies, a career, or start a business.
Aloud, an AI/ML-enabled technology being tested by YouTube, can subtitle and translate films into a variety of regional dialects at no extra cost. Only a select few healthcare professionals may now access the functionality.
They aim to democratize access to critical health information fully. Additionally, according to Chatterjee, we are still dedicated to collaborating with healthcare professionals and investing in the technology that will allow them to produce multilingual content effectively and reach a large audience.
In order to provide reputable material covering more than 100 ailments in languages like Hindi, Marathi, Tamil, Telugu, Kannada, Gujarati, Bengali, and English, YouTube said it would collaborate with more healthcare organizations, including Narayana, Manipal, Medanta, and Shalby.
The corporation said that the completed translations are checked for correctness by both the author and partner teams.
YouTube unveiled a new learning-focused feature called “Courses,” which enables producers to provide viewers with multi-session video lectures for specific topics and augment their video content with additional learning resources like PDF files.
According to YouTube, there are eight ways for video producers to make money, and Classes will be an extra tool. Next year, certified artists in India will be able to provide viewers with either free or paid courses.
India, South Korea, and the United States will be the first countries where the functionality is available as a beta test.
Additionally, Google showcased some new voice search options. Project Relate, a new Android software that recognizes and interprets non-standard speech and enables individuals with speech difficulties to engage with Google Assistant, is one of the more significant advancements.
The Relate app’s Listen function allows users to copy and paste the text into other applications while simultaneously transcribing their speech into texts in real-time. With the use of a clear, artificial voice, the Repeat function enables users to reiterate their phrases.
The pilot-stage software also enables users to converse directly with Google Assistant. Service in Hindi and other regional languages will be offered in subsequent pilot phases.
According to Elizabeth Reid, Google’s Vice President of Technical (Search), India will be the first country to provide the app service.
A user’s Lens-based visual query may be further honed using textual key phrases with Google’s new multi-search functionality. Therefore, if you’re looking for a gown with a specific design, you may further hone your vision of the pattern by using keywords for the color, brand, or type of garment you’re looking for.
To analyze YouTube’s influence in 2021, Oxford Economics polled 4,021 YouTube subscribers, 5,633 producers of various sizes, and 523 enterprises. One in two users who are presently employed use YouTube to assist them in acquiring skills to advance their careers. In contrast, 45% of people who are searching for new employment use YouTube to assist them in developing skills to find work.
Since YouTube is an advert media platform, various types of companies thrive there, especially small enterprises. “With regard to creative achievement and gender diversity, all of the major Indian languages are well-represented on our platform. They have capabilities that assist maintain the platform as a secure and welcoming environment for both content producers and viewers, “The Chief Product Officer of YouTube remarked.
According to the report, it was discovered that 77% of female users concur that YouTube is a valuable platform for lifelong learning, 56% agree that YouTube enables them to acquire skills that are useful in their daily lives, 90% of female creators concur that YouTube helps them start sharing their passions and ideas, and 88% agree that YouTube tends to help them be creative.
Edited by Prakriti Arora