Boom times for India’s influencer community | WARC | The Feed
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Boom times for India’s influencer community
The number and influence of India’s content creators continues to grow post-pandemic and they are attracting brands which see a way to engage with new audiences at relatively little cost.
Why it matters
Brands in India continue to make heavy use of celebrity endorsements. A study ranking the brand value of Indian celebrities, by valuation advisory firm Kroll, estimates that the overall value of the top 25 in 2022 was US$1.6bn, up 29% on the previous year (the figures are derived from brand endorsement portfolios and relative social media presence). The report also noted the rise of South Indian movie stars and sports celebrities.
But such big stars tend not to attract significant engagement rates on social media, unlike nano-influencers and micro-influencers. A separate Kroll study, cited in Quartz India, suggests that many brands are now turning to this level of influencer ahead of the top tier as they get a higher return on investment.
- There are around 80 million content creators in India – including video streamers, influencers, and bloggers – and the creator industry is forecast to grow 25% to reach $290m by 2025.
- More than a third of Indian brands have doubled their budget for social media influencers over the past year, according to Kroll.
- Marketers are diverting digital spending into regional language campaigns with micro-influencers.
- In one survey (by digital marketing agency iCubesWire), the buying decisions of a third of respondents were driven by influencer posts, reels, and videos on popular social media platforms.
“Influencers will need to self-regulate and participate in policymaking to ensure a positive impact on the industry. More types of content creators will enter the space and the number of influencers will spike in 2023” – Vijay Subramaniam, CEO and founder of talent management company Collective Artists Network.
Sourced from Quartz India, e4m
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