Entertainment has always been an integral part of our life and in this era of digitalization and technology online video sharing platforms have been a hit among the youths, and the market leader in the online video sharing segment has been YouTube for a long time. YouTube has more than 10 billion downloads on Android which makes it the most popular app in the world. Now one would think if the world’s total population is 7.9 billion how can YouTube be downloaded by 10 billion people, it’s not that 10 billion people use YouTube, but it has 10 billion downloads which means someone can be using multiple devices like laptops, tablet, and smartphone while someone would switch smartphones and download YouTube in their new smartphone so it’s like that. Let us know more about that the YouTube Public Company-Know More.
Now let’s get into some facts and figures about YouTube
- YouTube was launched on 14 Feb 2005 by Steve Chen, Chad Hurley, and Jawed Karim.
- YouTube’s current parent organization is Google.
- YouTube is the second most visited website after Google.
- YouTube is headquartered in San Bruno, California.
- YouTube’s current CEO is Susan Wojcicki
- YouTube generated $28.8 billion in revenue in 2021, a 46% growth rate year on year.
- YouTube currently has nearly 3 billion active users.
- Most Subscribed channel on YouTube currently is T-Series with 218 million subscribers.
- There are currently more than 800 million videos on YouTube
- Annual cost of running and maintaining YouTube is $6,350,000,000
Some huge figures there right,
Now let’s take a look at the history of YouTube or the story of YouTube
What’s the most common thing between every big IT company in the world? The sacred Garage, the garage of fortunes
Tech giants like Google, Amazon, and Microsoft all started in a garage and YouTube was also initially started in a garage.
YouTube was founded on valentine’s day in 2005 by three friends Steve Chen, Chad Hurley, and Jawed Karim. Their main purpose was to create a platform where everyone can share videos and view content without any restrictions.
The Idea of YouTube came into their minds at a birthday party when they realized how difficult it is to share videos online, “people were collecting videos on cell phones…..but there was no easy way to share it” Chad Hurley said in an early interview.
Recognizing the potential of YouTube as an online video-sharing platform Google acquired it In October 2006 for $1.65 billion
How does YouTube make money?
For any company to be successful it has to generate revenue no matter how much the traffic is, luckily for YouTube when Google acquired it, YouTube got the mammoth traffic from google and it helped in making YouTube what it is.
Today YouTube generates more than $20 billion annually of which a big portion is from ad revenue. YouTube accounts for almost 11% of total Google’s net ad revenue in the US
YouTube earns $1.8 billion every month through a revenue and subscription model.
We can say that YouTube earns mainly from the ads that they show before starting a video, though it is transforming to a subscription-based model slowly through YouTube premium it’s still far from being the primary source of revenue. YouTube further earns from landing page banner ads and channel membership; channel membership is a service by which subscribers get access to exclusive content from the creator by paying a nominal amount.
Another main source of YouTube’s revenue in the US is YouTube Tv, it is a live tv streaming service expanding at a great pace and offers channels like ABC, NBC, FOX, ESPN, Disney, and more on YouTube. It already has more than a billion users and the cost of YouTube tv is $49.99/month.
Future of YouTube
The future for YouTube looks very bright, it is the most popular app on the internet, and every minute hundreds of thousands of people are consuming content on YouTube.
In today’s world, YouTube has connected people across the globe of various cultures, races, and countries through its content. It has become an essential part of our lives billions of users use YouTube daily. According to their needs some use it for entertainment, some use it for studying while some use it as a means to earn and make a career out of it.
The most earning man on YouTube is Mr. Beast, he has earned $54 million in 2021.
In the coming future, YouTube will surely make it difficult for the TV industry to survive as it is rapidly expanding towards providing on-demand entertainment on its YouTube TV platform.
We cannot deny that YouTube is a one in a thousand times wonder, it introduced and revolutionized the online video sharing platform and made it easier for people to share videos anytime anywhere to the whole world.
