The Indian vernacular market is growing by leaps and bounds due to the rising internet and smartphone users in India. Most internet users hail from lower-tier II cities and prefer consuming content and news in their regional language. As a result, the vernacular news and the content market is growing at a CAGR of ~60% between 2017 and 2022.
1.The number of Indian languages internet users has grown from 42 million in 2011 to 234 million in 2016, marking the rise of the vernacular market in India
India is the highest populated country in the world with more than 22 official languages and 1600 dialects making India- the epitome of diversity. As a result, for any brand or platform to flourish in India, it is important to focus on other regional languages. It is not that English doesn’t work here but only 10% of the population uses it. This is why all major social media platforms have started supporting vernacular content to drive traffic. The Indian language internet user base has been expanding with no breaks. It has grown from 42 million in 2011 to 536 million in 2021. As per ken research findings, 9 out of every 10 new internet user is likely to be non-English user in India, explaining that the Indian language internet users are the present and the future of the vernacular news and content market.
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2.Marathi, Tamil, and Kannada have the highest proportion of users preferring their native language over English or Hindi to consume content online
In India, English is used by less than 1% of the population as their primary language and less than 10% as a second or third language, explaining the huge demand for content in non-English languages. The consumption of vernacular content rose after the reduction of mobile data charges which fueled the internet penetration rate in India speedily. Presently, the country has over 80 crore Internet users and the majority of the Internet users prefer their native language over English or Hindi which is the big reason behind the expansion of the vernacular industry in India.
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3.Growing popularity of the vernacular content has started the investment trend in the industry: more than $1 Bn raised by various vernacular players in India
The increasing preference for the Indic language content has boosted the growth of the vernacular news and content sector in India. This has made the market lucrative and attracted several potential investments to the industry led by Google, Krafton, and Y combinators among others. OneIndia has raised $2.2M, Vokal raised $10.6M over 5 rounds, and Dailyhunt raised $10 Mn from Eduardo Saverin-led B Capital. It also raised $805 Mn by CPPIB.
