Short-form video platforms betting on 5G for ‘dawn’ of ‘best times’

With the advent of the 5G network, the Indian short-form video (SFV) industry is expected to boom. From 200 million users currently, the SFV industry may grow to 650 million by 2025, and it may reach a billion with the help of 5G, industry experts told Business Standard.

“5G will provide more ways to reach a wider audience and learn about their preferences. 5G will allow more individuals to access the internet at higher speeds and low latency.” Ian Goh, chief executive officer (CEO) of short-form video platform Tiki, said, “The advent of 5G will be a digital reset.”

Much of the SFV platforms’ growth has occurred in the last two years.

“The Covid-19-induced lockdown accelerated the growth of short video apps across the globe,” Goh said.

“The growth of Reels in small town India, combined with the growth of regional content and regional trends has been particularly pronounced in the past two years,” Manish Chopra, director and head of partnerships at Facebook India (Meta), added.

A report by RedSeer released in July stated that the SFV market may provide a $19 billion monetisation opportunity in India by 2030.

From rewarding performance by the creators to providing campaigning opportunities to brands, SFV companies are introducing additional monetisation opportunities.

“We are running several tests in various parts of the world,” Chopra said, “These include advertising-supported revenue opportunities, direct fan-based subscriptions, commerce-based opportunities.”

On the other hand, Indian telecom companies have announced ambitious plans to launch their 5G services. At the annual general meeting (AGM) of Reliance Industries (RIL) organised on August 29, Mukesh Ambani announced that Jio would launch 5G services in metro cities by Diwali.

Bharti Airtel has laid out similar plans. Airtel’s CEO Gopal Vittal told the media that the telco will launch the 5G services “within a month.”

“With the help of 5G it will truly be the dawn of the best of times for the creator economy,” Goh said.

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Originally appeared on: TheSpuzz