A report by a strategy consulting firm has highlighted that India’s consumption of memes is on a spike. The report observed that Indians are spending 30 minutes of their day, on average, consuming memes on the internet. Moreover, last year, the report observed a whopping 80 per cent increase in the memes market on social media.
In the survey by Redseer, it was examined that most people use these memes as stress busters. Around 50 per cent of the respondents indicated that their meme consumption will surely soar in the coming months. Unveiling this report at a media conference, Mrigank Gutgutia, Partner at Redseer, said, “The shareability of the memes is what makes them popular. People with the same interest across the globe find such memes relatable.”
In the light of the shareability concept, it’s no surprise that the meme market in India will proliferate in the coming year. Redseer’s report also highlighted that youngsters are getting into this market because of the increase in media-driven platforms in the country. The report also stated that 90 per cent of the people are open to meme-creating opportunities. This indicates a large latent demand for meme creation in the Indian market.
Furthermore, the Redseer report mentioned that social media is the primary hub of memes. Thus, everyone is trying their hand at content creation these days. This development will surely pave the way for meme-making applications in the country.
Mrigank Gutgutia said that meme-making is also important for brand building and marketing in contemporary times. Talking about the same, Mrigank shared, “An important aspect that makes memes attain such huge popularity in a short period of time is that any individual can connect to them — and this works great for brand building and marketing.” He also stated, “Memes are now at the peak of the entertainment sector. To keep up with this rising demand, meme creation platforms are crowding the market, indicating that monumental growth is on the cards for this industry.”