The rise of Indian short video apps
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.
Data and Image: RedSeer Analysis, Consumer Surveys
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.
The Indian startup ecosystem, including large consumer brands and corporates, have begun to leverage the depth of Indian culture and heritage. Sanjay Anandram, Co-founder of NICE (Network of Indian Cultural Enterprises) talks about the importance of cultural entrepreneurship and how India's cultural roots can inspire the ecosystem as a whole.
Editor’s Pick: 100x Entrepreneur
In 2002, Abhishek Goyal worked as a programmer with Yahoo, and later joined Accel as an investor. Realising the potential of the emerging Indian startup ecosystem and wanting to be a part of the journey, he soon teamed up with Neha Singh to launch Traxcn, which aims to become the largest platform tracking innovative startups, private companies, and emerging sectors across the world. Read more.
While 2020 was the year of edtech for India, many people are unable to upskill themselves due to the language barrier as most of the content is in English. Realising the issue, Joseph George launched vernacular language upskilling platform Avodha in 2020. It currently offers 17 upskilling courses such as coding, mobile mechanics, marketing, and accounting among others in Tamil and Malayalam. Read more.
Illustration: YS Design
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.
- IIT Kharagpur has successfully commercialised its flagship healthcare product COVIRAP, the novel diagnostic technology to zero on infectious diseases, including COVID-19.
- 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…
Caesar Sengupta. Pic credit: Linkedin
“India is leading with the next billion users, so when you build for India, you build for the world.”