You’ve probably seen the ads—short clips of young streamers lit up in neon hues, inviting viewers to join them “live.” They pop up on social media platforms, in mobile games, and even when scrolling through news sites. They’re unimpressive enough to swipe past without a second thought—just another video chat app, you’d think. But behind those flashy promos and blinking livestream links is a paradigm shift in how India’s youth consumes—and increasingly pays for—digital content.

Take Tango Live, for instance. The US-based livestreaming app once seemed like a fringe platform in a crowded market. But today, it’s pulling in over Rs 100 crore (roughly $12 million) every month from Indian users alone, mostly through virtual gifting and in-app purchases. That’s more than what many domestic social media giants make, despite their supposedly larger user bases. The CapTable has reviewed an investor presentation from December 2024 that confirms these figures.

For example, Google-backed ShareChat reported a consolidated operating revenue of around Rs 720 crore in FY24, including earnings from its flagship app that's been active since 2015. This translates to an average monthly revenue of Rs 60 crore—significantly lower than Tango, which achieves higher figures with just a single offering.