Google Inc (GOOGL)’s YouTube CEO Susan Wojcicki Is Happy And Does Not Fear Facebook Inc (FB)
Google Inc (NASDAQ:GOOG)(NASDAQ:GOOGL)’s YouTube CEO, Susan Wojcicki, is not at all worried over Facebook Inc (NASDAQ:FB)’s growth in the video segment. She appeared to be more focused on the company’s growth, as well as, its intentions of a grand collection of the online video’s brightest stars in the world. She was speaking at the annual VidCon conference held in Southern California.
Selfies With Favorite Stars
Reports indicated that a big number of teenagers were in line for hours to get selfies with their most preferred Google Inc (NASDAQ:GOOGL)’s YouTube stars. The fans screamed on sighting one after another celebrity as the CEO prepared her opening address. She said that the company had its best year and provided supporting numbers to strengthen her statement.
Wojcicki said that there are over a billion users globally and that the online video reached more millennials than the cable network. She said that the average viewing of YouTube witnessed 60% uptick from the last year. The members of YouTube also uploaded over 400 hours of video per minute on average. The revenue paid by the video library platform has also witnessed over 50% growth. Also, the number of people watching the YouTube jumped 40% YOY.
The growing competition from Facebook Inc (NASDAQ:FB) appears to be not having a significant impact as YouTube continued its uptick. The social networking site disclosed that its video viewing jumped to four billion videos a day from three billion in the first four months of the current year. That means its growth rate was 33.33%, which was slower than the search engine giant’s video library platform.
However, Wojcicki admitted that the competition is heating up. However, there was no need to ring the alarm bell. She said that it was a complementary to its business since it was one of the ways to grow. She is confident that the creators would be back to the place where they had the most success.
One of the advantages that video creators enjoyed is the sharing of ad revenue by Google Inc (NASDAQ:GOOGL)’s YouTube. However, Facebook Inc (NASDAQ:FB) has also adopted this practice now to wean away the video creators and will commence later this summer. Now, both have a similar percentage of revenue sharing method. Obviously, this has worried the management as the CEO returned to the conference this year.
The purpose of Wojcicki appeared to have been clear. That is to convince content creators on Google Inc (NASDAQ:GOOGL)’s YouTube that they could continue to find audiences and make money. It has been close to nine years since the company was acquired by the search engine giant. It has been the undisputed leader in the video segment for the most part of the five years. In any case, more competition could be seen in the coming months.
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