Meta’s director of media partnerships, Paras Sharma, spoke at the India Mobile Congress, that video has become a priority for the company due to the fact that it is one of the fastest growing mediums today. India’s content industry is no doubt undergoing a transformation, with video arguably the fastest growing medium with more than 70-80 percent of data consumption being video. Therefore, we consider it to be our number one priority,” Paras Sharma, director, media partnerships, Meta (formerly known as Facebook), told the audience at the India Mobile Congress on Thursday.
According to him, the trend of short-form video is a significant one in the OTT content industry, which has made it easier for people to create and, at the same time, it challenges traditional narrative storytelling. Watch on Facebook has more than 1.25 billion daily visitors, with India ranking among the leading markets for the service. ‘We are committed to growing the creator ecosystem by creating sustainable economic value for them,’ Sharma added. We align with India’s biggest passions, including cricket, movies, music, TV, and news.
The short Instagram format was first introduced to the world by Instagram in India. “Creators and publishers have embraced Reels like ducks to water,” he said. It’s because Reels transforms social network conversations and connections into a video creation and consumption flywheel. How? By democratizing creativity like never before. According to him, Facebook Watch is personalized, socially powered, and effortless entertainment.
“India is indeed transforming the digital landscape with new innovations, social commerce, digital entertainment, education, and healthcare,” he said. The country has nearly 700 million internet users. During the past year, our family of apps has been downloaded more than 3.5 billion times, driving business and community impact,” he said. Meta says that more than 200 million companies use its platforms to communicate with their businesses.
India is indeed transforming the digital landscape with new innovations, social commerce, digital entertainment, education, and healthcare
Paras Sharma, Director – Media Partnerships, Meta
The number of Facebook video publishers and creators monetizing Facebook videos in India has grown by 35 percent year-over-year, according to Meta. In terms of revenue, these Indian video publishers and creators are generating 160 percent more than they did a year ago, According Sharma.