Indian short-video platforms that are looking beyond Tier-I India for the next set of users appear to be in a race to buy out Instagram influencers for exclusive content. Influencers with 100,000 to 500,000 followers may earn up to Rs 25 lakh per year on apps like MX TakaTak, Chingari, and Moj, which swiftly filled the void left by TikTok’s exit from India in June last year.
“They have roped in multiple third-party agencies to do this,” said Praanesh Bhuvaneswar, founder and chief executive of influencer marketing platform Qoruz. “They’re trying to buy out influencers via deals that comprise fixed payouts and performance variables. They are okay (in fact, push) if the influencers post on Instagram, but agreements would bar the creators from posting on other rival Indian social media platforms that are trying to tap Tier-II, Tier-III markets. Instagram is their primary fishing ground,” he added.
Homegrown short-video apps are looking for Instagram influencers to continue making Reels, which is what made them successful in the first place. Instagram did not reply to questions about whether its Indian competitor’s MX TakaTak, Chingari, and Moj are pursuing influencers on its platform. The photo and video sharing platform is growing its user base in India faster than parent company Facebook Inc., owing to the success of Instagram Reels, which was launched in India following the TikTok ban.