Video Live Streaming has been a global revolution in the form of new social media that has empowered content creators to monetise their content directly through their engaged fans. In India, while everyone had been talking about short videos post the ban on Chinese applications and how brand partnerships and shopping affiliate revenue for creator monetisation; very few focused on the amalgamation of video live streaming, gamification consumer transactions as the mode to democratize monetisation for content creators in India.
India is still to see the explosive growth of video live streaming, but the leaders in the space have started to emerge with strong growth not only in active user base but also in paying user base and thus the monetisation volume for content creators. Bolo Live is one such platform from India which has established itself as a leader in video live streaming platform, with annualized gross transaction value of close to 5.5 mn USD already, and having its content creators earn close to 600K USD per month already.
Catering primarily to Tier 2 and 3 audiences of Bharat, Bolo Live has also broken the myth that Indians do not spend on content. Seeing the platform it seems that it is more about grasping the attention span of users with relatable content that is actively engaging could trigger the notion to spend for content, which ultimately creates value for content creators.
With most of its content creators coming from the age group of 23 – 28 years, 78% from Tier 2 cities, the earning potential from the platform has started to become the primary source of income for its content creators, creating a significant impact in the lives of thousands of creators in a short span of 21 months.
Let’s take a look at how this is done!
Sashi Sethi, who is into the toy packaging business in Kolkata and a full-time entertainer, keeps viewers glued to his live streams through his spectacular dance moves. Coming from a humble background, Sashi is 39 years old from Howrah in Kolkata and a father of two children. After a hectic day, the dancer admits to looking forward to catch up with his fans on Bolo Live every day. Funky outfit, smart sunglasses, and a wide smile, Sashi starts his broadcast with “What song should I dance to first?” and, messages with suggestions and virtual gifts pop up almost instantly.
“Bolo Live contributes to 35% of my total earning, and that money makes a lot of difference in my life. I use that larger chunk of these earnings for paying my credit card bills and children’s school fees” said Sashi Sethi.
“Besides this, Bolo Live is a great app for someone who wants to showcase their talent and meanwhile earn from it. I have achieved so much from this app in a very short span of time, from earnings to friendships.” he added.
Bolo Live provides mentorship and guidance to the early-stage content creators to be able to trigger financial gratification at multiple touchpoints within the product while interacting with their audience. It helps content creators not just become famous but also earn an income.
Bolo Live provides mentorship and guidance to the early-stage content creators to be able to trigger financial gratification at multiple touchpoints within the product while interacting with their audience. It helps content creators not just become famous but also earn an income.
The Bolo Live streamer Anamika could barely react. Why? Because she had just redeemed her beans (Bolo Live currency) into more than INR 1 lakh to her Paytm account. The beans she earned during her live sessions. This is a story of Anamika, a broadcaster from the ‘City of Joy’ Kolkata and a professional singer. ‘I used to love singing but I barely have any time these days’ said Anamika during one of her live sessions while chit chatting with her viewers. After the COVID-19 pandemic, the financial burden had largely fallen on Anamika as she is a single mother. One of her friends told her about the Bolo Live app and her life never remained the same. Capitalizing on the stay-at-home orders during the COVID-19 pandemic, Anamika used to spend most of her time on Bolo Live as a host which also helped her in earning a living. In fact, Anamika is now one of the top broadcasters and a golden tick holder with 27.1K followers. She spends a chunk of her earnings through the app in paying house loan EMIs and school fees for her children.
Anamika mentioned “Bolo Live is not just an application but now has become a part of my life, the platform has helped me in getting financially independent in no time. Today, I earn close to 2 lakhs per month out of which 70% of my total earnings comes from streaming live on Bolo Live. I also get to earn extra money through Live contests, interesting live games etc.”
This is the social media ‘creator economy’ in action – and it simply would not have happened without one thing: video and live streaming.
Another, one of the most loved streamers is Divya Singh who keeps the audience glued to her LIVE through her excellent content of beauty & fashion, lifestyle and travel. Divya started her journey with Bolo Live when she lost her father in an accident and now she is the sole bread-earner of her family. Bolo Live contributes to 25% of her total monthly income which she uses for paying her house EMIs.
Sushmita from West Bengal also made her way to Bolo Live as a full time streamer to support her family financially and emotionally. She has earned more than 2 lakhs in her initial 4 months on the app. “Bolo Live has empowered me not only financially but also blessed me with a community which is no less than a family” Sushmita said.