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Updated December 27th, 2023 at 14:58 IST

Infopreneurs propel India's creator economy to surpass $100 billion mark: Report

Creators' constant virtual engagement, commercial viability skills playing major role.

Sankunni K
Classplus Report Unveils Creator Trends 2023
Classplus Report Unveils Creator Trends 2023 | Image:Freepik
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The evolving eco-system of a creator economy and the rise of "infopreneurs", coupled with the dominance of Tier-2+ cities has played a major role in shaping the industry, reveals a report prepared by education technology platform "Classplus". The report has taken into consideration, the creator economy's $100 billion value, while highlighting several key trends, which reshape the virtual engagement of creators to monetise their skills.

Rise of infopreneurs

The report highlights a significant shift in the creator landscape, with a surge in "infopreneurs" leading the way. Education and knowledge-sharing have become dominant sectors, witnessing a shift towards sustainable business ownership. Books and podcasts, focusing on personal development, health, fitness, and personal finance, have experienced substantial year-on-year growth, indicating a robust demand for creator-led educational content.

Growth in e-learning

The e-learning industry is projected to exceed $460 billion by 2026, presenting a vast opportunity for creators in the educational space. On Classplus alone, non-academic creators have seen their earnings mark a 2.5X increase from the previous year. The platform has also witnessed a remarkable 300 per cent growth in the number of creators since 2021.

Shift from social media to digital learning

Creators are diversifying income streams, moving away from the unpredictability of ad revenue and seasonal brand deals on social media. Entrepreneurship and digital learning products are becoming primary sources of sustainable revenue. Algorithm changes on social media platforms have driven 77 per cent of creators to explore alternative income streams.

Rise of finfluencers

The report highlights the emergence of "finfluencers" in 2023, aligning with the increase in financial awareness among retail investors. Trading and investment education on Classplus have become major categories, with a significant increase in the number of creators monetising financial content.

The report highlights the emergence of "finfluencers" in 2023, aligning with the increase in financial awareness among retail investors. Trading and investment education on Classplus have become major categories, with a significant increase in the number of creators monetising financial content.

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Upskilling for professional growth

Creator-led courses are gaining popularity as alternatives to traditional education, offering flexibility and accessibility. The demand for online creator-led courses in coding, digital marketing, and personality development is soaring. Over the last three years, more than 5 million learners have upskilled themselves on Classplus-powered apps.

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Boom in new categories of infopreneurs

Social media has become a platform for successful business owners to share expertise, empowering individuals, especially women in Tier II+ India. Around 70 per cent of the audience accessing courses on Classplus is from Tier II+ cities. New categories gaining momentum include Organic Farming, Makeup Art, Jewelry Designing, Cooking & Catering, and Tailoring.

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Increasing focus on health and well-being

The report highlights a growing focus on health and well-being, with 94 per cent of Indians expressing concerns about their family's health. This has led to increased spending on gym memberships, yoga classes, and curated diet plans.

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As the creator economy continues to evolve, Classplus's report provides valuable insights into the emerging trends shaping the industry, with a particular emphasis on education, entrepreneurship, and the empowerment of individuals in non-metro cities.

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Published December 26th, 2023 at 13:44 IST

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