From Moye Moye to marketing gold: How memes are shaping India’s creator economy | Mint

A Serbian song hinting at despair and nightmares has found an unexpected second life in India. While the lyrics of Moye Moye may evoke anguish, in Indian short-form content, the tune fuels humour and joy, sparking a meme phenomenon. 

With over 4.5 billion views on YouTube videos featuring the catchy track, according to the platform’s 2024 End of Year trending list, the meme has seamlessly woven itself into everyday conversations. In stark contrast, the original song garnered 100 million views on YouTube.

Far from being mere entertainment, memes like Moye Moye have become integral to India’s pop culture and creator economy, reshaping how brands connect with audiences and driving the rapid growth of meme-driven commerce.

“Trends on YouTube influences we communicate…Moye Moye exemplifies this in quite an extraordinary manner,” said Ajay Vidyasagar, regional director, APAC, YouTube. According to Vidyasagar, the meme has evolved from a viral sound into a recognized form of expression, driven by contributions from both viewers and creators.

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Creators have leaned into this unpredictability, with Binod being another notable example. What began as a random YouTube comment on a video by entertainment duo Slayy Point turned into a viral sensation. 

“Memes are very unpredictable, you never know what can become a meme. Even now, we are unable to comprehend how Binod became viral,” said Abhyudaya Mohan of Slayy Point.

“Memes and creators are an interdependent ecosystem. While creators become memes and viral content, they also feed off the viral memes and make content around it,” said Gautami Kawale, Mohan’s co-creator.

Kawale highlighted two key factors that fuel viral moments: relatability and relevance. Kawale pointed to two key factors behind viral moments: relatability and relevance. Memes like Moye Moye resonate because they’re highly relatable, while others, such as cricket memes during the World Cup or IPL, thrive on cultural relevance.

YouTube’s team noted that memes take on diverse interpretations, reflecting moments of joy, loss, or creativity. For instance, Moye Moye might symbolize a missed cricket catch for some or a dance trend for others. These cultural moments are shaping not only vocabulary but also the economy.

From meme stardom to brand marketing

The economic potential of memes is becoming increasingly apparent as India’s social commerce market embraces this cultural shift.

Consider Ganji Chudail, a green, bald witch character created by YouTube channel Majedar Kahani. The character quickly became a favourite influencer for brands like Nykaa, Swiggy, and Netflix.

In October, Mint reported how the character has transcended screens to become a marketing icon. Recently, veteran actress Neena Gupta embodied a “Gen Z Chudail” in YouTube’s latest advertisement campaign.

Meme marketing is projected to become a ₹3,000 crore ($360 million) industry by 2025, according to equity advisory firm Equentis. Brands, particularly emerging ones, are leaning on meme-driven campaigns to grab attention and build relevance.

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“For brands, the real opportunity lies in leveraging this cultural currency thoughtfully,” said Manish Solanki, COO and co-founder of influencer marketing agency TheSmallBigIdea. “Done right, memes can capture attention quickly, especially for new brands looking to make a splash and leave a lasting impression. It’s not about jumping on every trend but striking the right balance between humour and relevance.”