According to YouTube, advertisers must have YouTube as part of their marketing strategy if they want the attention and a loyal following among those in the 18-34 age bracket.
“If you want to win with that under 40 generation, you’ve got to be on YouTube,” Margo Georgiadis, president of the Americas for YouTube, said during Digital NewFronts.
While it is still second to Facebook in terms of advertising budget share, about a hundred brands all over the world are already spending to advertise with YouTube. However, YouTube did not announce any new partnership or any major project during the said event.
“We find ourselves in the middle of an incredible momentum,” said global head of content Robert Kyncl, “and we believe the momentum will continue. Why? There’s an insatiable appetite for online video, and that appetite is our opportunity.”
YouTube does indeed have the numbers to back up their boast. Just last March more than a billion unique users visited the online platform. The current tally of watched videos for both unique and regular visitors also averaged six billion hours of video for that month alone. This is up from January’s estimated tally of four billion hours.
Most of the viewers belong to the generation that grew up with the Internet.
While advertising saw its heyday on television, Google Executive Chairman George Schmidt said television is no longer a threat and that Internet video has lorded it over TV for a while.
“The future is already here. Video is becoming the global shared experience,” he said during the opening of Digital NewFronts, digital marketing’s version of the event where TV networks promotes programming and sell ad spots to their own advertisers.
The comparison between Youtube and TV did not end with the opening remarks either.
“I thought that YouTube was like TV, but it isn’t. I was wrong,” Kyncl continued, “TV is one-way. YouTube talks back… TV means reach, YouTube means engagement.”
Some netizens were quick to comment.
“I agree that TV is over. I haven’t watched TV regularly for over six years. There isn’t even one in my home. However… I did watch about six hours of YouTube the weekend just gone. That says it for me,” Sigourney Juneau said over Stuff.
“The death of broadcast television is coming. It’s only a matter of time now,” said Scott Wilson over CNet.
“I love YouTube and use it all the time. Who wouldn’t? I love watching TV shows and watching bootleg concert videos for free. It’s ‘wicked’. Thanks Google!” another user commented.
YouTube is now actively moving to make more revenue from just mobile marketing. Just last month it announced it was offering paid subscription for some channels; a move that has yet to be determined if it is a good one or not.
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