At Goafest 2023, Utsav Chaudhuri, head of marketing, YME (youth music and English entertainment), Viacom18, delved into youth trends, shedding light on consumption patterns and the impact of technology.
Chaudhuri shared that there is an an increased desire of young Indians who want to monetise their side hustles, transforming their hobbies into viable income streams.
"Passion, interest, and hobbies are on the rise amongst young India as they are into monetising content. There is an increase in desire to monetise one's hobbies after the pandemic. Recently, the youth has showcased their entrepreneurial spirit and we are witnessing growing importance of financial independence among them,” expressed Chaudhuri.
One of the key findings presented by Chaudhuri was the overwhelming interest of young Indians in building communities on social media platforms to nurture their hobbies.
According to the data, 69% of youngsters expressed a strong inclination to leverage social media to connect with like-minded individuals and refine their skills.
Chaudhuri remarked, “This trend reflects the desire for creative self-expression and the aspiration to find communities that resonate with their interests and passions.”
The session also explored the concept of multiple personas that young Indians adopt in their digital lives.
Chaudhuri highlighted, “There is a dichotomy between the personas the youth projects online and their real-life identities. With the advent of social media platforms and the ability to curate one's online presence, young Indians are exploring different aspects of their personalities, blurring the lines between their offline and online selves.”
Chaudhuri also touched upon the impact of technology on relationships.
He shared, “Relationships in the digital age have become akin to WhatsApp forwards, disposable and transient. The pervasive influence of social media has transformed the dynamics of modern relationships, making them more fragmented and ephemeral. There is a need to navigate the challenges posed by technology and foster meaningful connections in an increasingly digital world.”
Mental health was also discussed during the talk.
Chaudhuri emphasised, “There is a heightened importance of mental well-being among young Indians. While social media has provided a platform for self-expression and connection, it has also given rise to new religions, in a metaphorical sense. Virtual communities centred around shared interests and beliefs have become a source of solace and support for individuals grappling with mental health issues. The need to acknowledge and address this aspect of young India's lives.
In his concluding remarks, Chaudhuri said, “There is significance in gaining a deeper understanding of the hopes, dreams, and values that drive this generation. As the future of society, young India represents an incredible force that can shape the trajectory of the nation. Industry professionals should challenge preconceived notions and embark on a journey of collaboration with the youth, recognising their potential and creating an environment that nurtures their aspirations.”