Cosmofeed Empowers Over 5,000 Indian Creators to Earn INR 100 Crore in FY23
- ByStartupStory | May 30, 2023
Cosmofeed, India’s leading platform for creators and micro-entrepreneurs, announced that it has facilitated earnings exceeding INR 100 crore for more than 5,000 creators in the financial year 2023. The platform, founded by Vivek Yadav and Vishnu Pathak in September 2021, offers a range of tools and features designed to help creators build communities, host events, and monetize their offerings effectively.
The growth of the creator economy in India has been remarkable, with over eight crore professionals and creators. However, only a small fraction, less than 0.2%, are able to monetize their content effectively. Recognizing this gap, Cosmofeed has tailored its platform to support professionals in creating and enhancing their earning avenues.
“We’re thrilled to have contributed to the growth of these creators and their businesses. Today, India’s creator economy is booming, and our platform is designed to empower professionals to monetize their content and improve their earning potential,” said Vivek Yadav, Co-founder of Cosmofeed.
Cosmofeed offers a variety of content monetization tools to Indian creators, including subscriptions from communities, live sessions through events, and the creation and sale of content repositories through Courses. In the financial year 2023, over 5,000 creators utilized these tools, collectively earning a consolidated amount of INR 100 crore. The median earning for these creators was approximately INR 20,000, with 40% of them hailing from tier 2 and 3 cities.
The creators on the Cosmofeed platform, with an average age of 25, demonstrated the potential of first-time creators and a new asset class being developed. The platform attracted creators from over 120 unique cities, with a significant increase in regional creators launching their services.
“While established and macro influencers have opportunities to monetize their content, nano and micro-influencers lack awareness and tools. Cosmofeed aims to bridge this gap by providing a platform for individuals and businesses to sell their products or services online without the need for a dedicated website or payment gateways,” Yadav explained.
Cosmofeed has not only provided creators with the means to monetize their communities and generate recurring revenue but also streamlined the organization and management of both offline and online events through its Events feature.
Since its inception, Cosmofeed has garnered a membership base of over one million, with over 10,000 creators currently utilizing the platform. Approximately 50% of these creators have successfully monetized their content and products.
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