Online video is the next revolution
YouTube formally began in February 2005. In the internet age, it's a mature medium. But mature doesn't been stagnant.
With 400 hours of video uploaded on the site every minute, YouTube is primed for staggering growth.
In The Australian's The Deal published in March 2016, writer Helen Trinca provided insight into YouTube CEO Susan Wojcicki.
This post summarises the key points from the printed article, "YouTube, her way."
1. It's doubled
Google doesn't break out figures for YouTube but growth of the once-anarchic platform is phenomenal, thanks in large part to smartphones.
The number of hours spent watching on mobiles has doubled in the past year.
2. TV advertisers will migrate
"TV ads need to move. The users have moved, the users are moving very quickly but the advertisers also need to move. It just takes time."
Robert Kyncl, the chief business officer of YouTube adds:
"Imagine you have 50 million or 100 million people following everything that you do. Imagine the business model you will have."
"You are going to see real strong content creators who will ascend to new heights we haven't really seen in the way they will be able to expand their business, because once you have that power, you take that brand and expand horizontally into virtually anything you want."
3. In teen land, YouTube is influential
Wojcicki cites a recent Variety poll that last year showed eight out of the top 10 stars in terms of teenage influence are YouTube creators, overwhelming traditional TV and music stars with their popularity.
4. YouTube is reinventing TV
"We see an opportunity for TV to be remade. We see TV declining and people moving to online video. We think TV is being reinvented (and) the service that we offer has a lot of components that are going to be really important in the next generation of video viewing - having everything on demand, having the ability for it to be social in some way and to build communities around it, and the ability for it to be global so you have access not just to specific creators, but a global community," says Wojcicki.
5. On-demand content from anywhere
"There is a lot of really great content available on traditional networks, on cable, but I think users will now expect to see it on demand and also cross-device. They are going to want to see it not just in their living room...but also on their phone, in their bedroom, at their friend's house, on the train station," says Wojcicki.
Kyncl says that in five years or so we will find it "weird" if we can't search, share, interact and comment as we watch television or video sites.
"Storytelling where people can become part of the story...(where) you can comment and share and interact, hasn't been here, and it is arriving very quickly," he says.
6. More live video
Kyncl predicts a world far from conventional viewing, includes far greater use of live streaming as the infrastructure of the internet keeps improving.