Short Videos To Revolutionise Digital Content Consumption: Sumit Ghosh, Chingari
Until a few years back, YouTube was considered the only digital video content platform in India. With millions of masthead advertisement clicks, the platform was able to provide a plethora of monetisation opportunities to content creators, which further fostered this growth. However, with the influx of Short Video-making Apps, it pulled the audience's attention to crisp content that was quick to absorb and, at the same time, entertaining and intriguing.
Chingari, our very own homegrown app, was quick to milk the many benefits of this situation and made inroads into the smartphone app world officially in November 2018. Its CEO & Co-founder, Sumit Ghosh accepts how this sudden shift in content creation & consumption patterns, proved an effective monetisation tool for creators while exploring new paradigms of creativity.
Excepts:
1. How do you see the short-video app ecosystem grow or change in the post-pandemic scenario?
As of 2019, the Indian digital media market was valued at over 220Bn Indian rupees and was estimated to almost double by 2022. This huge potential of the Indian digital market is what opened new avenues for the creator community. Then there was lockdown, which proved a positive time to further boost the creator base in the country.
This was due to two primary factors - (A) Phycological instinct that motivated people to create content on digital and online platforms with the realisation of their skills and expertise and also in the quest of gaining followers and success. (B) The high internet consuming population in the country, which stands at second number in the world after China. This led to a chain of influencer evolution, leading to new faces emerging as content creators.
This has enabled new engagement-cum-consumption segments of entertainment to grow rapidly. The concept of nano & micro-influencers came into existence and saw creative minds pursue their passion and open their pandora of talents to the world. The past couple of years have experienced new brands looking at establishing themselves to tap this raw talent.
2. With plenty of players blooming in the digital video sector, what kind of challenges and opportunities lie ahead of them?
When many players want to play the same game like yours, be assured that the category is lucrative. So, you are headed in the right direction. Being a relatively new category, the prospect of growth is immense, especially with such great talent that's found at every nook & corner of our country. This also outlines that the market for digital content consumption is huge and is a high-revenue segment that will help brands like Chingari to contribute to the Indian economy and create a more self-empowered nation.
This is also a reflection of the idea that digital content is the new career option for the youth of the country with minimal investment. One key challenge is the filtration of content for the viewers. As the digital video industry expands, the regulations and content filtration on various platforms will be a necessity. At Chingari, a dedicated team of professionals monitors every video on the platform to maintain the authenticity, trust and value of the platform. This content filtration will grow manifold in the coming years.
Additionally, when you are at the top of business, the biggest challenge that lies ahead of you is to keep the momentum going while being socially responsible. A key here is to have a strong gatekeeping mechanism in place, which maintains the core strength of the platform. To mitigate these challenges, Chingari is well-equipped with the best-in-class, be it innovative campaigns, robust strategies, and tech excellence. A multi-talented team that comes with its strengths of working across diverse sectors, is capable of disrupting the market by storm.
3. Talking genre-wise, which segments have garnered the maximum inclination and why?
Dance & music have been top spots generating maximum viewer traffic. This is followed by contest participation, lip-sync videos and transformation videos. These are entertaining mediums just like films. Films were developed to help humans relieve themselves of the daily monotony and stress and to send a social message amongst the masses. The same strength is reflected by the genre of music, dance and interesting videos, which are the core of entertainment and social understanding for the viewers.
4. User-generated content remains to be core to your business. How do you monitor and ensure that the UGC guidelines are followed?
A dedicated team of experts monitors every video before it gets uploaded on the Chingari app. Additionally, there are constant interactive sessions with creators to better the output of their video. They are told about the Do’s and Don’ts and all ASCI guidelines are communicated and followed on the platform.
5. Given the sheer room for growth for digital video content in India, and the consequent impact on the increase in online users, the market is still at its nascent stage. Do you agree?
There is immense growth potential and hence it would be right to say that digital video content in India has just begun to explore the avenues for content research and creation. If ‘Digital’ revolutionised overall entertainment consumption, Short Videos are certain to revolutionise digital content consumption. And Chingari is leading by a yardstick.
