The rise of Indian short video apps
Indian short form apps have been able to retain over 65-70 percent of TikTok users, adding 30-35 percent of new users in the past year.
Last year, when the Indian government banned Chinese apps, including the popular short video app TikTok, there was a need for a similar platform. This led to the rise of homegrown platforms like Chingari, Josh, Roposo, Moj, MX Takatak, and more.
In its latest report 'The Rise of Made In India in Digital Content', RedSeer finds out that the short-form video user base is back to nearly 100 percent of where it was before the TikTok ban, with strong loyalty towards Indian apps.
Indian short form apps have been able to retain over 65-70 percent of TikTok users, adding 30-35 percent of new users in the past year.
Moreover, most of these new users hail from Tier-II cities and beyond, positioning Bharat as a driving force for Indian short video apps.
Ujjwal Chaudhry, Associate Partner at RedSeer Consulting, says,
"This shows how platforms were able to design the product, execute their plans and market it aggressively in a very short period of time. This is a strong indicator of how the Indian digital ecosystem has matured in the last few years.”
Additionally, riding on the digital wave, strong network effects have been fuelling ecosystem growth, leading to large monetisation potential for both influencers and platforms.
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News & Updates
- The Tata Group said it is importing 24 cryogenic containers to transport liquid oxygen to ease the shortage in India amidst the second wave of the COVID-19 pandemic. Meanwhile, Mukesh Ambani's Reliance Industries Ltd has tweaked manufacturing at its Jamnagar oil refineries to produce over 700 tons a day of medical-grade oxygen.
- Bharat Biotech said Covaxin shows the efficacy of 78 percent against mild, moderate, and severe cases of COVID-19 as per Phase III interim analysis results. The indigenously developed COVID-19 vaccine also neutralises multiple variants of SARS-CoV-2 virus and effectively works against the double-mutant strain as well, ICMR said.
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- In its first 2021 virtual "Spring Loaded" event, Apple unveiled an all-new stunning purple finish for iPhone 12 and iPhone 12 mini, besides a bunch of other new products, including iPad Pro 2021, a new iMac, Apple TV, and AirTags.
- Two former Google employees Sujith Narayanan and Sumit Gwalani launched Fi — a neobank targeted at the salaried millennial customer base to help them understand money, save more, and spend intelligently.
Before you go, stay inspired with…
“India is leading with the next billion users, so when you build for India, you build for the world.”
— Caesar Sengupta, Vice President, Payments and NBU, Google
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