For the first time, we have information about the impact of YouTube on the Spanish economy. The independent consultancy Oxford Economics, based in England with offices in Dublin and Milan, among other cities, has presented the report From opportunity to impact: evaluation of the economic, social and cultural benefits of YouTube in Spain.
One of the main findings of this study is that YouTube’s creative ecosystem has contributed nearly 313 million euros to gross domestic product (GDP) of Spain in 2020. Also, in Spain, 21,000 jobs (in full-time equivalent) are closely tied to the YouTube ecosystem.
YouTube creators, whether they are independent creative entrepreneurs, media companies or companies in the music sector, earn income directly generated through YouTube, for example, from advertising or licensing fees.
These payments not only represent an immediate benefit for creators, but also have a more far-reaching effect, since they allow creators to purchase the materials needed to produce their videos from local companies (such as ingredients, in the case of cooking videos) and even hire local talent for tasks like editing, producing, lighting or sounding your videos. Therefore, consumer spending by creators and employees in your supply chains has an additional impact on the economy and the community.
Platform for entrepreneurs
YouTube’s “creative entrepreneurs” take advantage of opportunities, both on and off the platform, to successfully develop their businesses in Spain. By the term “creative entrepreneur” we refer here to YouTube creators, whatever their gender identity, who have at least 10,000 subscribers on their largest channel, as well as creators with fewer subscribers, who earn income directly from YouTube or from other sources thanks to their YouTube videos, and / or that permanently employ other people to carry out their activities on YouTube.
Such “off-the-shelf” income has an additional economic effect. For example, Patry jordan, has invested in other projects, such as the publication of three books, with the income obtained thanks to YouTube and currently employs 10 people full time for its activities outside of YouTube.
- Two out of three creative entrepreneurs report that YouTube has contributed positively to their career goals.
- More than 70% of creative entrepreneurs say that YouTube gives them the opportunity to work in the way that best suits their needs.
A world showcase of Spanish culture
Giving a voice to local talent, locally promoting self-produced content and exporting Spanish to the entire world, YouTube has allowed Spanish creators to access a global audience of more than 2 billion people. For example, 80% of the gamer content creator’s audience Mikecrack He is in Latin America, where he collaborates with youtubers from Mexico, Ecuador or Colombia.
- 78% of creative entrepreneurs stated that YouTube helps them export their content to an international audience that they could not reach otherwise.
- More than 75% of the playback time of content produced by Spanish channels comes from outside of Spain.
- 65% of creators stated that access to an international audience is essential for their channels to survive.
