Since the banning of the very popular Chinese owned short video sharing app TikTok in India in June last year, about 97 per cent of the app’s user base in the country have been brought onto their platforms by Indian short-video making apps such as Josh, Moj, MX Takatak and Roposo. A report noted that most of the users were from small cities and towns.
According to the latest report by Bengaluru-based RedSeer Consulting, increased supplier push and aggressive marketing by platforms were the reasons behind this success of Indian apps.
“Daily active users (DAUs) increased upto 97 per cent of June 2020 levels as a result of aggressive marketing and user acquisition by platforms. However, the time spent on the other hand has gradually increased, reaching 55 per cent of June 2020 levels,” the report mentioned.
Strong performance in the Hindi belt and Tier-2+ cities had pushed Josh to lead both on influencer and user-end aspects. A strong gainer in consumer and business metrics has been Moj when compared to the last quarter.
“On the other hand, Roposo has shown strong performance in Tier-1 cities compared to the smaller ones,” said the report.
In the metric of the net promoter score (NPS) in the metro cities, MX Takatak led the lot. In order to gain market share, challenges and hashtag events similar to TikTok had been held by the platform.
On the over all. tier 2+ cities accounts for about 60-62 per cent of the shortform users of the apps.
There is a wide scope for improving their content quality and product experience for the Indian [platforms even though they have come a long way in the last few months.
The survey report indicated that almost three fourths of the current users of the short-form video platforms are more likely to re3mian with the domestic Indian apps and not switch to the Chinese owned up even if the ban was to be lifted by the Indian government.
“In less than one year post-Tik Tok ban, Indian platforms have shown a strong V-shaped recovery, bouncing back to 100 per cent of pre ban daily user base,” said Ujjwal Chadhury, associate partner at RedSeer Consulting.
But the job is far from done.
“The players still have to reach the global and cross sector benchmarks on engagement and retention- which will further grow the monetisation potential for the entire ecosystem,” Chadhury added.
There is large monetisation potential for both influencers and platforms because of strong network effects which is resulting in the user base growing fast and causing the ecosystem to also grow at the same time.
A monthly earning of around $20,000-40,000 is available for the elite influencers with more than 10 million followers.
“Influencers with 1 million followers can earn upto $1000-2.500 while budding creators with less than 1 million followers can earn $40-200,” the report said.
(Adapted from BusinessInsider.in)