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Cryptocurrency 15 hours ago (Oct 19, 2022 12:30PM ET)
© Reuters AI Translation Could Open New Markets for Crypto YouTube Content Creators
When it comes to grabbing attention, video is the dominant format. It’s no secret that the biggest video platforms primarily cater to English content. For example, 66% of YouTube’s content is produced in English.
While English is the most popular spoken language globally, with an estimated 1.5 billion speakers, most of the global population doesn’t speak or understand the language. Only around 20 % of the global population speaks it.
The English-language crypto segment is most competitive on social media platforms like YouTube or TikTok. However, even though English is the most competitive language segment, the number of crypto enthusiasts speaking languages other than English is significant.
For example, YouTube, the world’s biggest video streaming platform, has over 460 million users from India – almost twice as many users as any other country worldwide. Further, after the US with 247 million users, Indonesia has 139 million, and Brazil has 138 million.
And with 15-20 million crypto investors in India alone, it is easy to see that content localized for these large segments could open the world of crypto up to even more people around the globe.
Video creators that solely produce digital content for English-speaking viewers miss out on prospective viewers and face more challenges in building and maintaining audiences they can reach. Automating translations could be the key to tackling non-English speaking audiences and improving video content accessibility.
Expanding the audience
There are a couple of reasons why video translations can help to target new crypto audiences. Firstly, translation improves organic reach. Traffic through organic search still generates more leads than any other source.
All creators, the crypto segment included, can typically expect that approximately 53% of all visitors will typically come from organic searches. Translation of videos increases the likelihood that the content will appear more often on Google (NASDAQ:) search results since people are searching for content in their own languages.
Secondly, video translations increase the audience’s engagement. According to research, the viewing time goes up by 40% with the inclusion of subtitles.
Creating crypto-themed videos in multiple languages is usually time-consuming and expensive. Voice-over translations are often not a viable choice for most content creators since it is costly. But the availability of automated speech translations and AI-generated voice-overs could be a game changer for the global crypto world.
Currently, there are several machine translators in the market, starting from big tech company products, such as Google Translate and Microsoft’s Bing, to European providers, such as the German translator Deepl and the Swiss platform Vidby.
In the non-crypto space, AIR Media-Tech, a company that manages portfolios for digital creators, including 3,800 YouTubers, has announced that they will begin working with Vidby in hopes of multiple language content expanding the audiences because they see how impactful those audiences could be.
On the Flipside
- Crypto content on social media platforms is controversial because some influencers are earning money from crypto promotional videos they make. Regulators have found multiple cases where influencers have promoted scammy crypto projects. In some cases, influencers failed to disclose the facts about sponsorship, potentially putting their followers at risk of a dodgy investment, most notably Kim Kardashian who was fined 1.26 million for promoting EthereumMax.
Why You Should Care
Cryptocurrencies are gaining traction in developing countries, as they provide accessibility, fast transactions at a low cost, and counterweight weak national currencies and corruption. By using more languages than English, crypto content creators can gain access to new audiences in the fastest-growing crypto markets.
Read more about crypto influencers worth following in 2022:
Top 10 Crypto Influencers to Follow in 2022
Read more about the close bonds between crypto industry and influencers:
Can the Crypto Industry Survive Without Celebrities and Influencers?
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