Riding the Audio Wave: How Indian Entrepreneurs are Transforming Digital Content Consumption

In the realm of digital content creation, Yogendra Saini, also known as ‘Technical Yogi,’ found his stride on YouTube, specializing in gadget reviews, tech news, and tips tailored for small-town India. His journey took a significant turn in 2017 when he received his first YouTube paycheck of Rs 8,300. This financial milestone served as the catalyst for Saini to transition from a journalism career to a full-time content creator.

Based in Alwar, Rajasthan, Saini faced a challenge when people, particularly women from smaller towns and villages, approached him for guidance on launching digital channels. Many lacked the necessary resources, be it smartphones with quality cameras, video editing skills, or the confidence to face the camera. In 2018, Saini discovered Khabri, a non-music audio platform, and saw an opportunity to extend his reach and empower those who couldn’t create videos.

The power of voice-based content became apparent when Saini conducted his first audio live on Khabri. With over 1,000 people joining within minutes, he realized the potential of audio platforms. Despite having a two-year headstart in video content with a million subscribers on YouTube, Saini believes that voice-based content is the future. His podcast channel, while smaller in followers, signifies the growing trend of audio consumption in India. The COVID-19 pandemic has significantly accelerated digital consumption across various media formats, fostering a heightened demand for audio content. Khabri, a non-music audio platform, has experienced remarkable growth, claiming a 350 percent month-on-month increase since the lockdown in March. Monthly active users surged from 200,000 to over 700,000, with content creators on the platform increasing from 15,000 to more than 45,000 in the last six months.

Global developments, including Spotify’s substantial investments in non-music audio, are reshaping the landscape. Spotify’s acquisitions of podcast networks like Anchor and Gimlet demonstrate a shift in focus. In China, audio streaming startup Ximalaya FM, valued at over $1 billion, engages users for up to two hours daily. Major players like Microsoft, Apple, and Google are also investing in podcasting platforms, indicating a growing tech war over voice.

According to the Global Entertainment & Media Outlook, 2020-2024, by PwC, India boasts the third-largest listener base for podcasts globally, following the US and China. The report predicts a compound annual growth rate (CAGR) of 30.4 percent in monthly listeners, projecting an increase from 57.6 million in 2019 to over 200 million by 2024. The music, radio, and podcast industry in India is anticipated to generate nearly $1.7 billion in revenue by 2024, with a CAGR of 13.5 percent.

Entrepreneurs like Technical Yogi and platforms like Khabri are at the forefront of the audio revolution in India. As the nation embraces new technologies and witnesses a surge in digital consumption, voice-based content emerges as a cost-effective and convenient alternative. The growing listener base, coupled with strategic investments by global tech giants, suggests that the future of content creation might echo with the resonance of audio. Sandeep Singh, Aankit Roy, Dushyant Kohli, and Pulkit Sharma are among the visionaries driving this audio transformation, steering India towards a sound future in the digital content landscape.