Content economy

Social media platforms that were once seen as an entertainment option have finally succeeded in creating economic value. In a recently released report, for example, YouTube has announced that in the year 2024 so far, the number of Pakistani creators earning more than Rs10 million annually has gone up by 25 per cent. It also says that the total hours of content uploaded by local creators surged by 60 per cent in the past year, with over 65 per cent of watch time on Pakistani content coming from global viewers. Independent analysts estimate that the digital economy in Pakistan can contribute up to $60 billion by 2030. In recent years, given the country’s high unemployment rate (currently at 6.3 per cent), many people in Pakistan have shifted to YouTube and other social media channels to earn a living. While other tech giants like Meta and ByteDance, which owns TikTok, have not yet released data on how much their creators earn directly and indirectly, the financial independence that these platforms have brought to many people across Pakistan is undeniable. This includes vulnerable groups that have usually had a hard time in the traditional economy. After the Covid-19 pandemic, more women started making content for digital platforms, helping them attain a better work-life balance.

Similarly, as production costs skyrocketed and audiences around the globe lost patience with long-form content on TV or other digital platforms, most creators have started creating short funny ‘reels’ or ‘shorts’ to provide some ‘comfort content’ to an entertainment-starved nation that is usually overwhelmed with bad news everywhere. Pakistani content has also gained quite a lot of popularity globally, despite the country’s late start when it comes to social media adoption and monetisation. Pakistan spent its late 2000s and early 2010s struggling to clear the mess caused by the ‘war on terror’. A ban on social media platforms in the early 2010s kept many creators away from this lucrative medium. While Pakistan’s openness towards adopting digital channels for generating income has been slow, its creators have quickly understood how to make their presence felt in the saturated digital landscape.

Although our local creators are seemingly heading in the right direction, there is always room for government support. This means that the state should ensure that creators have access to uninterrupted internet; that smartphone devices available here are not extraordinarily pricey; and that there are incubation centres or other such places where creators can edit their videos before uploading them on their channels. Such support will go a long way in making creators financially strong. In Sindh, the governor has started an initiative that provides free IT courses to young people. The provincial government has also collaborated with engineering universities to provide similar courses to students so that they can add an extra skill to their resume without having to worry about the financial burden. If there is one thing the 21st century has taught us, it is that we have to keep adapting to new mediums of information delivery and exchange and the fact that content itself is now akin to a commodity. The digital economy is here to stay and it is time we did everything possible to strengthen our internet infrastructure and empower Pakistani content creators.