According to Google, Youtube’s success has surpassed their wildest dreams and, more importantly, most major cable TV networks. The announcement was made during Google’s last earnings call by lead business officer Omid Kordestani.
He claims that during last year Youtube has seen an unprecedented surge in popularity. Views on the website have tripled while the total time spent by a single user in one session has increased by more than 50%. Kordestani also claims that the time spent on videos is also continuously increasing.
He then revealed that Youtube now attracts significantly more people aged 18-49 than any other television network. The 18-49 is the most sought after demographic by advertisers since most people with disposable income are found in it. This means that the video-sharing platform has effectively the lion’s share of the market.
According to Google, the reason for this massive increase in viewings is mostly owed to mobile devices. Youtube is easily accessible from most modern phones wherever an internet connection is available. Apparently the average viewing session from a mobile device has reached 40 minutes, plenty of time for each user to be exposed to around two ads.
Traditional television is no longer attractive to the younger generations. Even though there are ample recording possibilities on most modern cable offers, many people prefer to have access to content whenever they like in an easy to access format. A recent study has shown that children consider having their smartphones or tablets taken away and being left to watch only TV akin to punishment.
Other video-streaming services are also gaining larger audiences in this market. Some cable companies like HBO have realized that the online medium can no longer be ignored and launched their own streaming services (HBO Go).
Even those that prefer to still watch television do so increasingly more using mobile devices. A study released by Deloitte in April this year has revealed that nearly a half of the American households have some form of a video-streaming device.
Older audiences still prefer traditional cable options, but that demographic is not the most profitable. It remains to be seen if services like Youtube and Netflix will eventually make cable TV unprofitable, but Google has high expectations for the platform it acquired in 2006. Kordestani claims that new features such as auto-play and suggestions of videos have also been responsible for this increase in views.
Image Source: www.baaghi.tv