YouTube says TV is passe; announces 1 bn unique visitors per month

MUMBAI: For long, traditional linear TV professionals have been kind of pooh-poohing the emergence of YouTube as a challenge to their traditional business model and as the destination for video consumption. Google executive chairman Eric Schmidt however cautions TV executives that the TV vs YouTube - if ever there was one - is over and has conclusively swung in favour of the online streaming portal.

Speaking to advertisers in New York on Wednesday night at an initiative titled NewFronts (digital media‘s version of the TV tradition of promoting programming and selling ads); he disclosed that YouTube was now crossing a billion visitors a month. Last month‘s figures from YouTube claimed that almost one of every two people on the World Wide Web now uses the video streaming site, making it the third largest country in the world behind China and India.

Google executives at the event said that visitors are watching more than six billion hours of video content on YouTube every month. That‘s a humungous number, which equals to one hour a month for every human on earth. Just three months ago, the figure was four billion. Schmidt expects the figure to go up soon and told attendees to wait "till the numbers rise to six to seven billion. The future is now for YouTube," he said.

Executives point out that a good proportion of the visitors are those under forty - the connected to the internet generation; and that there is no better medium to reach out to them than YouTube.

"I thought that YouTube was like TV, but it isn‘t. I was wrong," said YouTube‘s global head of content Robert Kyncl, "TV is one-way. YouTube talks back. TV means reach. YouTube means engagement." He further added.

Schmidt explained that YouTube is not a replacement for something we know. "It‘s a new thing that we have to think about, to program, to curate and build new platforms," he pointed out.

DreamWorks CEO Jeffrey Katzenberg made an appearance at the event to announce that his company had earlier in the day signed a deal to acquire AwesomenessTV, a popular teen focused YouTube network, for $33 million.

YouTube meanwhile brought in its troops to coax brands to snap up media on the site, put in sponsorship dollars behind it and build channels. They cited a study saying that brands "that invest about 10 per cent to 15 per cent of their media budget on YouTube post a one per cent to three per cent sales rise.

Latest Reads
Highly-beneficial interactions take place at Broadcast India '16

The 26th Broadcast India Show concluded over the weekend in Mumbai, and was easily the most exciting Broadcast India Show yet. With thousands of eager, high-quality trade visitors swarming the show floor, a sentiment signalling highly-beneficial exchanges and interactions echoed through the halls...

Technology Software Applications
India, China to propel APAC, beat CAS Europe market share

APAC is expected to overtake the market share of Europe in future due to an increasing demand for digital TV set-up boxes in countries such as China and India. North America and Europe dominated the global CAS market in 2015. APAC region is estimated to mark a growth rate of 12.0 per cent CAGR...

Technology Hardware Set-top Boxes
India lucrative market for 4K UHD STBs: Grand View Research

Here’s a view on the demand for 4K or ultra high definition (UHD) set-top boxes (STBs) in India.

Technology Hardware Set-top Boxes
Infor appoints Dass as south Asian subcontinent V-P

Infor, a leading provider of business applications specialized by industry and built for the cloud, has appointed Ashish Dass as the vice president and managing director for the south Asian subcontinent. Infor software helps eliminate the need for costly customization through embedded deep...

Technology Software Applications
Siti & DishTV opt for Conax conditional access

The Essel group has been using Conax’s tech for sometime now for its Siti Network (earlier known as Siti Cable). Now the group has extended that partnership for another product for both Siti Network and DTH operator Dish TV India. This time it is for the cardless set top boxes that the two are...

Technology Hardware Set-top Boxes
Imagine Communications extends functionality of Selenio One unified transcoding platform to OTT

MUMBAI: Imagine Communications, empowering the media and entertainment industry through transformative innovation, today introduced a high-density adaptive bitrate (ABR) transcoding product built on Selenio One™, the company’s software-defined linear transcoding platform. Selenio One is designed...

Technology Hardware Components
DJI Makes Your Smartphone Smarter with the New Osmo Mobile

DJI, the world leader in creative camera technology, Thursday launched the Osmo Mobile, an extension for smartphones that turns them into intelligent, precision camera systems.

Technology Hardware Components
Prime Focus Tech gets funding from PE firm Ambit Pragma

MUMBAI: Prime Focus Technologies (PFT) – the technology offshoot of media services company Prime Focus - informed the Bombay stock exchange today that it had received its first round of funding from growth capital private equity fund Ambit Pragma.

Technology Software Applications
Three new products developed by C-DOT launched on its Foundation Day

Communications Minister Manoj Sinha today expressed the hope that 100,000 Gram Panchayats (GPs) will be connected through Optical Fibre Cable (OFC) by March next to set up a network infrastructure to serve the rural masses.

Technology Hardware Distribution

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories