Importance of YouTube to Business. The role has evolved from its early days and has become something totally different than it originally was. The product lineis defined as the varieties of the products that are produced by a company, or that is stocked by a retailer. YouTube is an American online video-sharing platform headquartered in San Bruno, California. YouTube planned to continue operating independently, with its co-founders and 68 employees working within Google. After launching six months later they would be hosting well over two million viewers a day on the website. One such example is Michelle Phan who started a series of YouTube videos featuring simple make-up demonstrations and tutorials.  In March 2010 YouTube began free streaming of certain content, including 60 cricket matches of the Indian Premier League. Leaving a high-flying job in consulting, Angela Lee Duckworth took a job teaching math to seventh graders in a New York public school. , YouTube began as an angel-funded enterprise working from a makeshift office in a garage. Influencer marketing can be loosely defined as a form of marketing that identifies and targets individuals with influence over potential buyers. The 12- to 17-year-old age group was dominant. taken by Christian Fuchs in his book "Internet and Society". It’s this kind of influencer behavior that has skyrocketed small no name companies to instant fame and fortune. by: Antonio Stinson. Watch ... for social media and showing you content hosted on third party sites such as Youtube. In April, YouTube started using Google AdSense. , According to May 2010 data published by market research company comScore, YouTube was the dominant provider of online video in the United States, with a market share of roughly 43 percent and more than 14 billion videos viewed during May. , After opening on a beta service in May 2005 YouTube.com was trafficking around 30,000 viewers a day in just months of time. On December 21, 2012, Gangnam Style became the first YouTube video to surpass one billion views. Overtime, she has amassed over 6 million followers. , In May 2013, YouTube launched a pilot program to begin offering some content providers the ability to charge $0.99 per month or more for certain channels, but the vast majority of its videos would remain free to view.. Two years ago almost no one knew who he was, now he’s had an ongoing run of Top 40 hits, … , In 2006, Time Magazine featured a YouTube screen with a large mirror as its annual 'Time Person Of The Year'.  YouTube would sell its audience that it gains by free access to its advertising customers. I consult some of the largest brands and agencies on how the intersection of user-generated photos and big data will change advertising for years to come. The novel aspect of this business strategy is that it combines what seems at first to be different, the gift and the commodity. This issue has also been taken up in scientific analysis. – This paper seeks to demonstrate the importance of uses and gratifications theory to social media. Special skills like being able to sew costumes, write music, or create cool special effects. , In March 2013, the number of unique users visiting YouTube every month reached 1 billion. There is no doubt, YouTube is now THE destination for music. Tapscott, Don and Williams, Anthony D. (2006). Key Takeaway: A well-organized YouTube page is key to preventing choice paralysis and keeping users engaged. , On April 3, 2018, a shooting took place at YouTube headquarters.  YouTube is no longer a simple website for the average internet user, it is now a necessary item for people to maintain their daily dose information, and is even a means of starting a prosperous career. The removal of videos posted by the major record companies occurred after failure to reach agreement on a licensing deal. By applying uses and gratifications theory, this paper will explore and discuss the uses and gratifications that consumer receive from using social media. When you optimize your channel keywords the right way, you can boost the rankings of all the individual rankings on your channel.  Based on reported quarterly advertising revenue, YouTube is estimated to have US$15 billion in annual revenues. , YouTube was awarded a 2008 Peabody Award and cited as being "a 'Speakers' Corner' that both embodies and promotes democracy". In the beginnings of YouTube, the creators did not do everything for the money, because generally there was none, today wealth is directly associated with the title.  The first YouTube video, titled Me at the zoo, was uploaded on April 23, 2005, and shows co-founder Jawed Karim at the San Diego Zoo and currently has over 120 million views and almost 5 million likes. Here, she explains her … In the past, brands may have focused on popular bloggers and celebrities but today there is a new wave of “everyday” consumers that can have just as large an impact. According to the website Hitwise.com, YouTube commanded up to 64% of the UK online video market. Opinions expressed by Forbes Contributors are their own. , James Zern, a YouTube software engineer, revealed in April 2011 that 30 percent of videos accounted for 99 percent of views on the site. Family shares importance of giving blood following Sickle Cell health scare News. , In late 2011 and early 2012, YouTube launched over 100 "premium" or "original" channels.  Two years later, in November 2013, it was documented that the landing page of the original channels became a 404 error page.  It was available and accessible to some YouTube creators by the end of March 2020..  The website averaged nearly 20 million visitors per month according to Nielsen/NetRatings, with around 44% female and 56% male visitors.  In October 2012, a local version of YouTube was launched in Turkey, with the domain youtube.com.tr.  The service offers over 6,000 films.  URLs to YouTube were redirected to China's own search engine, Baidu. The online video sharing website YouTube may be well known as a resource for personal video viewing, but it also can serve as a valuable tool for business. , On July 23, 2007 and November 28, 2007, CNN and YouTube produced televised presidential debates in which Democratic and Republican US presidential hopefuls fielded questions submitted through YouTube. YouTube has become an important "visual journalism" platform, both for conventionally produced content from established news organizations and for citizen eyewitness contributions. YouTube is Worlds Second Largest Search Engine, violent or sexually suggestive content involving popular characters, University of Illinois at Urbana–Champaign, Justin Timberlake and Janet Jackson Halftime show incident, CNN and YouTube produced televised presidential debates, Learn how and when to remove this template message, List of the most subscribed channels on YouTube, "Youtube.com Traffic, Demographics and Competitors", "More Than 500 Hours Of Content Are Now Being Uploaded To YouTube Every Minute", "The Yellow $: a comprehensive history of demonetization and YouTube's war with creators", "YouTube vows to recommend fewer conspiracy theory videos", "Children's YouTube is still churning out blood, suicide and cannibalism", "On YouTube, a network of paedophiles is hiding in plain sight", "YouTube was meant to be a video-dating website", "YouTube: Overnight success has sparked a backlash", "YouTube serves up 100 million videos a day online", "YouTube U.S.  In November 2013, YouTube's own YouTube channel had surpassed Felix Kjellberg's PewDiePie channel to become the most subscribed channel on the website. In the modern era YouTube place great position. ", "Tagad reklāmas iespējas Youtube kanālā iespējams izmantot arī Latvijā", "Na Youtube prihajajo tudi slovenski video oglasi", "YouTube continues global expansion w/ versions of its site in 7 new locales", "YouTube launches Nepal, Pakistan, Sri Lanka-specific homepages", "YouTube launches country-specific homepage for Pakistan", "Sorry for Having Insulted China? On YouTube, you can host your own channel. Agencies like The Mobile Media Lab and Laundry Service provide services to help brands connect influencers at scale.  In December 2011, YouTube launched a new version of the site interface, with the video channels displayed in a central column on the home page, similar to the news feeds of social networking sites. The implementation of YouTube video into classrooms -- particularly science and math classrooms -- has contributed to much greater flexibility in instruction. As of October 2020[update], YouTube is the second-most popular website in the world, behind Google, according to Alexa Internet.  As of May 2019[update], more than 500 hours of video content are uploaded to YouTube every minute. YouTube would give free access to its users, the more users, the more profit it can potentially make because it can in principle increase advertisement rates and will gain further interest of advertisers. Karim was a programmer and helped in making sure the initial website got put together properly and helped in both design and programming. YouTube has also become a part of the lives of most Americans. As Freddie Mac recently posted: “Homeownership has cemented its role as part of the American Dream, providing families with a place that is their own and an avenue for building wealth over time. 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Homeownership has always been the first rung on the ladder leading to household wealth. , The YouTube interface suggests which local version should be chosen on the basis of the IP address of the user. On June 19, 2007, Google CEO Eric Schmidt was in Paris to launch the new localization system. It is open 24 hours a day, and you can find anything you want there, and say anything you want. The Wall Street Journal and The New York Times also reviewed posted content on YouTube in 2006, with particular regard to its effects on corporate communications and recruitment. Influence isn’t just having a lot of followers. , In early 2009, YouTube registered the domain www.youtube-nocookie.com for videos embedded on United States federal government websites. (YouTube comes in Ukraine! The key to success on the Internet is creating high-quality content that people want to view and share with their network. Show some love! Fully 71% of adults have used sites like YouTube or Vimeo at some time, according to a 2011 survey by the Pew Research Center’s Internet & American Life Project. , Starting from 2010 and continuing to the present, Alexa ranked YouTube as the third most visited website on the Internet after Google and Facebook. , Google aims to compete with local video-sharing websites like Dailymotion in France. According to YouTube, this was the first worldwide free online broadcast of a major sporting event. Kyle Wong is the founder and CEO of Pixlee. Some industry commentators have speculated that YouTube's running costs (specifically the network bandwidth required) might be as high as 5 to 6 million dollars per month, thereby fuelling criticisms that the company, like many Internet startups, did not have a viably implemented business model. About Hootsuite. In June 2020, YouTube phased out the ability to use categories. For me, one of the most amazing things about YouTube is its ability to make the world smaller. MONTGOMERY, Ala. (AP) — State medical groups are sponsoring a video contest to explain why it’s important to wear a mask during the COVID-19 pandemic. In April 2006, Sequoia and Artis Capital Management invested an additional $8 million in the company, which had experienced significant growth in its first few months. Before being purchased by Google, YouTube declared that its business model was advertisement-based, making 15 million dollars per month. A YouTube KPI or metric is an evaluative measurement tool used for video content performance on the YouTube social media channel. Nirvana Digital allows current YouTube channel owners as well as new video creators to expand their views and revenues by joining the Nirvana Digital YouTube MCN. The Nirvana Digital YouTube Network is a collection of over 400,000 videos that have served over 365 Billion minutes of video under our Managed CMS, Affiliate CMS, Music CMS and Kids CMS. YouTube uses Channel Keywords, your Channel Description and the types of videos you produce to figure out your channel’s overall topic and category. It is based on defining the right factors needed to establish successful content, essential for a lucrative social media video strategy. Finally, in addition to improving your customer experience, a brand should also be aware of influencers who are actual industry experts with large followings. Scott Cook, the founder and CEO of Intuit, said it best, “A brand is no longer what we tell the consumer it is--it is what consumers tell each other it is.” He’s hit the nail on the head and the numbers show it. Collection of all the products and offering the company is known as product mix. According to a McKinsey Study, marketing-inspired word-of-mouth generates more than twice the sales of paid advertising, and these customers have a 37% higher retention rate.  At the same time, a new version of the YouTube logo was introduced with a darker shade of red, which was the first change in design since October 2006. Currently, when a brand identifies influencers, they often look at number of followers that identity has on social platforms. If you can find your own Michelle Phan, and leverage that relationship to further foster a community. , Google's February 7, 2007 SEC filing revealed the breakdown of profits for YouTube's investors after the sale to Google. Companies could make use of these principles in order to gain profit with the help of Web 2.0 applications: "Companies can design and assemble products with their customers, and in some cases customers can do the majority of the value creation".  RampRate's report pegged that number at no more than $174 million. )", "Youtube România se lansează într-o săptămână", "Slováci už môžu oficiálne zarábať na tvorbe videí pre YouTube", "YouTube expands monetization and partnership in GCC", "YouTube рекламата става достъпна и за България", "Oglašavanje na video platformi YouTube od sad dostupno i u Hrvatskoj", "Youtube reklaamid – uued võimalused nüüd ka Eestis! I'm the CEO of Pixlee (www.pixlee.com), a venture backed startup that helps companies leverage authentic customer photos. YouTube is the focus for them as that is where their engaged audience is.” Alan Walker agreed a deal with Sony Music Sweden after his song Faded drew nearly 500m views on YouTube. , During November 2011, the Google+ social networking site was integrated directly with YouTube and the Chrome web browser, allowing YouTube videos to be viewed from within the Google+ interface. The site delivered an average of 100 million video views per day in July. The increasing copyright infringement problems and lack in commercializing YouTube eventually led to outsourcing to Google who recently had just failed in their own video platform.  In June 2008, a Forbes magazine article projected the 2008 revenue at $200 million, noting progress in advertising sales.. This was due to auto-suggesting new users to subscribe to the channel upon registration. Platforms like Instagram and YouTube have led to the rise of a new generation of influencers that have amassed huge followings on niche subject matters such as fashion, beauty, and food. Given the importance of peer recommendations and their amplification through social media, influencer marketing has become a widely discussed topic among marketers. I cover digital media and entrepreneurship. At that time it was Google's second-largest acquisition. PC World Magazine named YouTube the ninth of its Top 10 Best Products of 2006. , An algorithm change was made in 2012 that replaced the view-based system for a watch time-based one that is credited for causing a surge in the popularity of gaming channels.  In the same year, YouTube continued to reach out to mainstream media, launching YouTube Comedy Week and the YouTube Music Awards. Here's Your Chance to Apologize", "YouTube unblocked in China, but could Google have cooperated? Web Traffic Grows 17 Percent Week Over Week, According to Nielsen//Netratings", "Google pays the price to capture online video zeitgeist", "Online Video: The Market Is Hot, but Business Models Are Fuzzy", "Google to buy YouTube for $1.65 billion", "Chad Hurley's Take From The Sale Of YouTube: $334 Million", "Web could collapse as video demand soars", "YouTube announces awards to recognize best user-created videos of the year", "CNN's YouTube debate draws impressive ratings", "Part I: CNN/YouTube Republican presidential debate transcript - CNN.com", "It's Official: Disney Joins News Corp., NBCU In Hulu; Deal Includes Some Cable Nets", "Complete List of 2008 Peabody Award Winners", "Is the White House changing its YouTube tune? The second view is e.g. And it's crap.  YouTube's initial headquarters was above a pizzeria and Japanese restaurant in San Mateo, California. You may opt-out by. , YouTube was founded by Chad Hurley, Steve Chen, and Jawed Karim, when they worked for PayPal. ", "YouTube's Guide to Video Embedding for the U.S. Federal Government Overview", "YouTube launches UK TV section with more than 60 partners", "100 greatest movies, TV shows, and more", "YouTube takes a small step into the film rental market", "YouTube to offer film rentals in the UK", "Google Partners With Sony Pictures, Universal And Warner Brothers For YouTube Movies", "Cricket: IPL goes global with live online deal", "YouTube redesigns website to keep viewers captivated", "YouTube serving up two billion videos daily", "YouTube users uploading two days of video every minute", "YouTube hits 4 billion daily video views", "comScore Releases May 2010 U.S. Online Video Rankings", "Hurley stepping down as YouTube chief executive", "Almost all YouTube views come from just 30% of films", "Google+ now connects with YouTube, Chrome", "YouTube's website redesign puts the focus on channels", "YouTube Gets New Logo, Facelift, and Trackbacks – Growing Fast! Popularize your product: If your business is trying to get into a new market with a particular product, you can simply make a video of the product working and show the benefits that the product has. Here are some of the important benefits that your business will get by building a strong presence on YouTube. , In November 2019, YouTube has announced that the service would phase out the classic version of YouTube Studio to all YouTube creators by the spring of 2020. This type of influencer/follower relationship scales extraordinarily fast and creates massive trends in the marketplace. As you have probably seen for yourself, everyone has a voice in YouTube. Advertising is YouTube's central mechanism for gaining revenue. It cited user-created media such as that posted on YouTube and featured the site's originators along with several content creators.  Hurley was behind more of the looks of the website, he used his art skills to create the logo and designed the look of the website. YouTube allows users to upload videos, view them, rate them with likes and dislikes, share them, add videos to playlists, report, make comments on videos, and subscribe to other users.  Both events were met with negative to mixed reception. On October 25, 2012 (2012-10-25), The YouTube slogan (Broadcast Yourself) was taken down due to the live stream of the U.S. presidential debate. Certain independent or alternative news organizations have established YouTube channels that reach a wider audience than traditional broadcast television. This page was last edited on 25 December 2020, at 03:52. Don Tapscott and Anthony D. Williams argue in their book Wikinomics that YouTube is an example for an economy that is based on mass collaboration and makes use of the Internet. Three former PayPal employees—Chad Hurley, Steve Chen, and Jawed Karim—created the service in February 2005. 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To instant fame and fortune than 1 billion YouTube creators by the major companies! Or `` original '' channels for all manner of videos posted by the major companies!
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