Oxford Economics, a global advisory firm, released a report about ‘YouTube’s Impact in Australia in 2022‘, finding that YouTube’s creative ecosystem contributed over A$890 million to Australia’s GDP in 2022. It is more than 15,000 full-time equivalent jobs in the country.
The report prepared in collaboration with YouTube says that YouTube creators are the foundation of the creator economy, an economy that’s contributing directly to Australia’s GDP and creating thousands of full-time equivalent jobs.
In Australia, more than 25,000 creators and partners receive income linked to their YouTube presence. And the number of YouTube channels making AUD 100K or more in revenue is up 10%, year-over-year.
YouTube creators earn money from various sources like ad-revenue sharing from YouTube itself, fan funding, brand deals and sponsorships, affiliate marketing, sales through their own website or business, and many other ways.
According to the ‘YouTube’s Impact in Australia in 2022‘ report, over 3 in 10 creators in Australia who earn money from YouTube agree that YouTube is their primary source of revenue. Not only that, more than 5,000 creators employ other people to work on their YouTube channel, leading to job creation in the country.
YouTube as a platform has established itself as an important stakeholder in the creator economy. Every day, millions of people come to YouTube to inspire and be inspired. As a result, they create content, share skills, launch businesses, find community and ultimately positively impact the economy.
Here are some of the other findings from the research of Oxford Economics done in collaboration with YouTube.
- 64% of creators who earn money from YouTube agree that the revenue they receive from advertisements being placed on their YouTube content is an important source of income for them.
- 84% of creators who earn money from YouTube agree that YouTube helps them export their content to international audiences they wouldn’t otherwise have access to.
- 74% of SMBs with a YouTube channel agree that YouTube played a role in helping them grow their revenue.
- 91% of users report using YouTube to gather information and knowledge.
- 70% of music companies with a YouTube channel agree that YouTube helps them reach new audiences across the world.
- 88% of music companies with a YouTube channel agree that YouTube is critical to breaking new artists and/or music.
- 81% of users agree that with YouTube they can hear from diverse communities and/or cultures from around the world