Short-form video apps likely to capture 40% of video commerce market, reveals a Redseer report which also predicts Creator economy will double in five years
Industry experts say there has been a tectonic shift of preference towards short-form videos in comparison to other entertainment platforms, including OTTs
The report also stated that there is a mismatch between ad spend and time spent. Though 7% of time is spent on short form video, less than 1% of ad dollars is spent on these platforms
Rishi Pratim Mukherjee, Co-founder & COO at ScoopWhoop Media, says data enables them to figure out what topics are trending on the search and social media
Saregama will license its large catalogue to both platforms allowing for the large community of ShareChat and Moj members to create their own short video content using the Saregama library
As part of the initiative, a video has been released by the app where seven Likee creators from different parts of the country came together to talk about their mothers
As part of the partnership, Applause Entertainment will develop ambient content around existing shows and IPs, original content in short format for Firework
By embracing TikTok wholeheartedly, the Indian audience has also declared its love for short form video formats, pushing others to venture into the space. But can the market accommodate more players?