YouTube provided €50M to economy in 2020 with 3,900 related jobs
The American platform contributed €50 million to the Portuguese economy in 2020, with around 3,900 jobs associated with its activity.
YouTube contributed €50 million to the Portuguese economy in 2020, with around 3,900 jobs associated with its activity, according to a study by consultancy Oxford Economics.
According to a post by Francesca Mortari, director of YouTube Southern Europe, one of the study’s main conclusions “points to YouTube’s creative ecosystem having contributed around €50 million to Portugal’s gross domestic product (GDP) in 2020”, and that, “in addition to the financial contribution, 3,900 jobs in Portugal (full-time equivalent) are linked to the YouTube ecosystem”.
The same source mentioned that “the study also reinforces YouTube’s role in the internationalisation of Portuguese content: 72% of creators manage to export content to international audiences that they would otherwise not be able to reach”.
“With nearly one billion hours of video viewed on YouTube every day, worldwide, these views generate substantial revenues for YouTube creators and other businesses that, in turn, generate economic activity and jobs in their value chains and in the wider economy,” reads the same note, according to which “57% of Portuguese creators interviewed say that YouTube provides them with the opportunity to create content and earn money that they could not get from traditional media.”
According to the study, “in Portugal, 80% of content creators agree that access to audiences outside Portugal is essential for the sustainability of their channel because 50% of viewing time of content produced by channels in Portugal comes from audiences outside” the country.
Furthermore, indicated the same note, “83% of teachers who use YouTube say they use YouTube content in their classes and 78% of users with children under 13 (who use YouTube Kids in classes and for tasks) agree that YouTube Kids makes learning more fun”. “DIY videos are also very popular on YouTube with 62% of users saying they regularly watch this type of video on the platform, which shows that educational channels can have a great impact”.
The same source assured that “the platform continues to grow in Portugal counting today more than 700 channels with more than 100,000 subscribers and more than 60 channels with more than one million subscribers – and both growing 15% per year”.
For this study, “Oxford Economics used published survey results and data to estimate YouTube’s contribution to popular economic metrics such as GDP and employment”, having conducted “an anonymous survey of 2,000 users in Portugal” and polled “500 southern European businesses and over 1,460 southern European content creators, of which 180 in Portugal”.