Cosmofeed, a platform that helps creators and small-scale entrepreneurs earn money from their offerings and services, has revealed that it facilitated earnings of over Rs 100 crore for more than 5000 creators in FY 2023.

Established in September 2021 by Vivek Yadav and Vishnu Pathak, Cosmofeed aims to assist creators, micro-entrepreneurs, and solo entrepreneurs in creating communities, organizing events, and enhancing their income prospects.

According to Cosmofeed, nearly 30% of the creators using the platform made their first earnings in FY23.

"We are so excited to have our contribution to the growth of these creators and their businesses. India's creator economy is thriving, with over eight crore creators and professionals. However, less than 0.2% of them are effectively able to monetize their content. Our platform is specifically designed to help these professionals enhance their earning potential," said Vivek Yadav, co-founder of Cosmofeed.

Cosmofeed offers a range of options for Indian content creators to monetize their content, such as earning through community subscriptions, conducting live sessions and events, and creating and selling courses.

The platform reported that the median earnings of these creators were around Rs 20,000, with 40% of them residing in tier 2 and 3 cities. The creators, on average, were approximately 25 years old, with many of them being in their early 20s, indicating the potential for new creators and a growing asset class.

Cosmofeed also observed a significant increase in regional creators launching their services.

"While established and popular influencers have decent opportunities to monetize their content, smaller-scale influencers lack the awareness and tools. One of the main concerns was enabling individuals and businesses to sell their products or services online without the need for a dedicated website or payment gateways," explained Yadav.

Cosmofeed Helped Over 5000 Creators Earn More Than Rs. 100 Crore In FY 2023