YouTube contributed 190 million euros to Italy’s GDP in 2020. The figure was confirmed by an Oxford Economics survey and takes into account the direct earnings of video creators and the expenses incurred by them to hire professionals and agencies and to purchase new equipment needed to improve the quality of videos. According to the data collected, YouTube made it possible to create 15,000 new jobs in Italy during 2020.
The impact of YouTube on the economic system in Italy
YouTube is an increasingly important platform for the Italian economy. Data collected by Oxford Economics confirms the impact on GDP thanks to direct and indirect activities of the platform. In fact, video creators can earn with their content thanks to the platform’s program. At the same time, however, creators must improve the content offered to users by making investments that have a positive impact on the Italian economy. For video creators, in fact, there is a need to rely on qualified professionals for the creation of increasingly interested videos. At the same time it is necessary to hire collaborators and purchase new equipment. The effects of YouTube on the economy in Italy are, therefore, both direct and indirect.
The company comment
In a note released by the press, YouTube comments on the survey results on the impact of his service in Italy: “Whether they are creative entrepreneurs, media companies or record labels, content creators benefit from revenues that are generated directly through the platform but also have wider effects. To make the videos, in fact, products and services are purchased from Italian companies and retailers and, in many cases, the creators hire qualified people, such as assembly, production, sound and light technicians. The expenditure incurred therefore has a further impact on the economy “