YouTube: “We’re still kings of the world!”
YouTube, the video site, is celebrating the third anniversary since it was bought by Google with news that it now serves more than a billion views a day to users around the world.
In a blog by YouTube CEO and co-founder Chad Hurley, he reminisces about how he and co-founder/former CTO Steve Chen made a fun video declaring themselves the “burger kings of media”. How sweet.
But on the serious side of the media equation Hurley has some important points about the fast changing world of online video (You could also call it the ‘why we won’ manifesto).
- Speed matters: Videos should load and play back quickly
- Clip culture is here to stay: Short clips are voraciously consumed and perfect for watching a wide variety of content
- Open platforms open up possibility: Content creation isn’t our business; it’s yours. We wanted to create a place where anyone with a video camera, a computer, and an Internet connection can share their life, art, and voice with the world, and in many cases they can make a living from doing so
Questions remain about the business model of YouTube, which is being built around the fledgling online video advertising sector. The company is yet to declare a profit. Yet with 40 percent of all online video viewing in the US, according to comScore, YouTube will have a lot of say in writing and re-writing the rules for Web video ads.
On a Credit Suisse call with investors this morning, some online advertising experts questioned whether YouTube has improved materially in their advertising mix though they acknowledged the hard work of the YouTube team to improve the advertising environment. One advertising executive on the call said YouTube has “improved year over year”.