YouTube has become an unavoidable platform of the web. One billion hours of videos viewed by the users is the total consumption per day. It has become a popular platform in deed.
If a single user tries to watch on a nonstop basis the same amount of videos of the total consumption per day executed by the entire users of the globe, it will take him one hundred thousand hours to accomplish this consumption. This reflects the importance of this website.
One hundred thousand videos watched per day
In fact, YouTube did not focus on the “number of views” to emphasize on its growth but on the “number of hours”. In other terms, these videos have been watch till the end and haven’t been abandoned or click by mistake.
Despite these phenomenal and promising numbers, YouTube has to be careful, now that the competition is increasing and has become much ruder than a couple of years ago.
Many emergent firms base their strategy on videos, knowing that this type of display is the most promising in terms of sales and engagement toward the community to engage.
On first thoughts, we think of Facebook which is a hug competitor to Google either in terms of video hosting or in terms of advertising incomes. It is YouTube’s direct competitor to threaten to “nibble” the market shares month after month.
Nevertheless, YouTube is still in a great position in the market. In fact, despite all the competition that is around, the firm will concur new “niches” by re-targeting new markets and new type of users especially millennials, reason why YouTube created – for instance- “YouTube Kids”.
To conclude, the competition might be tight but at the end of the day YouTube will always be the reference in terms of online videos.