Homeownership has always been the first rung on the ladder leading to household wealth. – This paper seeks to demonstrate the importance of uses and gratifications theory to social media. ", "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? Opinions expressed by Forbes Contributors are their own. [138] The interface of the YouTube website is available in 76 language versions, including Amharic, Albanian, Armenian, Bengali, Burmese, Khmer, Kyrgyz, Laotian, Mongolian, Persian and Uzbek, which do not have local channel versions. This type of influencer/follower relationship scales extraordinarily fast and creates massive trends in the marketplace. It was subsequently unblocked on October 31. Platforms like Instagram and YouTube have led to the rise of a new generation of influencers that have amassed huge followings on … For me, one of the most amazing things about YouTube is its ability to make the world smaller. This issue has also been taken up in scientific analysis. importance of the internet to you. [150] YouTube would sell its audience that it gains by free access to its advertising customers. [18], After opening on a beta service in May 2005 YouTube.com was trafficking around 30,000 viewers a day in just months of time. The concept was an online dating service that ultimately failed but had an exceptional video and uploading platform. YouTube planned to continue operating independently, with its co-founders and 68 employees working within Google. The product lineis defined as the varieties of the products that are produced by a company, or that is stocked by a retailer. It also made an agreement with local television stations like M6 and France Télévisions to legally broadcast video content. 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,[147] thereby fuelling criticisms that the company, like many Internet startups, did not have a viably implemented business model. [28], Google's February 7, 2007 SEC filing revealed the breakdown of profits for YouTube's investors after the sale to Google. As of October 2020[update], YouTube is the second-most popular website in the world, behind Google, according to Alexa Internet. YouTube has also become a part of the lives of most Americans. YouTube is an American online video-sharing platform headquartered in San Bruno, California. I'm the CEO of Pixlee (www.pixlee.com), a venture backed startup that helps companies leverage authentic customer photos. [26] This kickstarted YouTube's rise to becoming a global media dominator, creating a multi-billion dollar business that has surpassed most television stations and other media markets, sparking success for many YouTubers. [9], The domain name "YouTube.com" was activated on February 14, 2005 with video upload options being integrated on April 23, 2005 after being named "Tune In, Hook Up" the original idea of Chad Hurley, Steve Chen, and Jawed Karim. The move was intended to create competition with websites such as Hulu, which features material from NBC, Fox, and Disney. There are other views in the debate that agree with Tapscott and Williams that it is increasingly based on harnessing open source/content, networking, sharing, and peering, but they argue that the result is not an economic democracy, but a subtle form and deepening of exploitation, in which labour costs are reduced by Internet-based global outsourcing. 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? Karim was a programmer and helped in making sure the initial website got put together properly and helped in both design and programming. 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. PC World Magazine named YouTube the ninth of its Top 10 Best Products of 2006. YouTube uses Channel Keywords, your Channel Description and the types of videos you produce to figure out your channel’s overall topic and category. Leveraging your brand’s influencers begins with building relationships with your customer. If you’re in the YouTube Partner Program, you’ll also see your estimated revenue over the last 28 days.. On June 19, 2007, Google CEO Eric Schmidt was in Paris to launch the new localization system. I cover digital media and entrepreneurship. This is especially true given the prevalence of influencers in the growing “millennial” and “mom” demographics. And it's crap. Google product manager Shiva Rajaraman commented: "We really felt like we needed to step back and remove the clutter. In some cases, the message "This video is not available in your country" may appear because of copyright restrictions or inappropriate content. In April, YouTube started using Google AdSense. [24], YouTube entered into a marketing and advertising partnership with NBC in June 2006. There is no doubt, YouTube is now THE destination for music. [34][35], In November 2008, YouTube reached an agreement with MGM, Lions Gate Entertainment, and CBS, allowing the companies to post full-length films and television episodes on the site, accompanied by advertisements in a section for US viewers called "Shows". [52], 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. social media has fundamentally changed the balance of power between customers and brands. [38][39], In early 2009, YouTube registered the domain www.youtube-nocookie.com for videos embedded on United States federal government websites. I consult some of the largest brands and. Advertisements were launched on the site beginning in March 2006. The removal of videos posted by the major record companies occurred after failure to reach agreement on a licensing deal. [2] Based on reported quarterly advertising revenue, YouTube is estimated to have US$15 billion in annual revenues. Here, she explains her … It is based on defining the right factors needed to establish successful content, essential for a lucrative social media video strategy. Others are sure to follow faster and faster. YouTube relaunched its design and layout on December 4, 2012 to be very similar to the mobile and tablet app version of the site. Posted: Jan 10, 2021 / 09:20 AM EST / Updated: Jan 10, 2021 / 10:10 AM EST. [50] In May 2011, YouTube reported on the company blog that the site was receiving more than three billion views per day. Michelle Phan has become a cosmetics authority that many consumers have come to trust...to the point that L’Oreal actually co-branded a cosmetic line with her. [150]:181, In June 2009, BusinessWeek reported that, according to San Francisco-based IT consulting company RampRate, YouTube was far closer to profitability than previous reports, including the April 2009, projection by investment bank Credit Suisse estimating YouTube would lose as much as $470 million in 2009. It is open 24 hours a day, and you can find anything you want there, and say anything you want. © 2021 Forbes Media LLC. [137], The YouTube interface suggests which local version should be chosen on the basis of the IP address of the user. [22] The website averaged nearly 20 million visitors per month according to Nielsen/NetRatings,[21] with around 44% female and 56% male visitors. Three former PayPal employees—Chad Hurley, Steve Chen, and Jawed Karim—created the service in February 2005. [11] After the infamous Justin Timberlake and Janet Jackson Halftime show incident, the three creators realized they couldn't find any videos of it on the internet, after noticing that this type of platform did not exist they made the changes to become the first major video sharing platform. Because of all these things, the "internet" is a gigantic library, as well as a world-wide message board, telephone network, and publishing medium. It’s this kind of influencer behavior that has skyrocketed small no name companies to instant fame and fortune. Here's Your Chance to Apologize", "YouTube unblocked in China, but could Google have cooperated? )", "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! On YouTube, you can host your own channel. [60], Starting from 2010 and continuing to the present, Alexa ranked YouTube as the third most visited website on the Internet after Google and Facebook. The first is free, the second yields profit. [78], 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. 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. ", "Learn More: Video not available in my country", "YouTube cedes to Turkey and uses local Web domain", "Music videos back on YouTube in multi-million pound PRS deal", "Youtube bandwidth usage: 25 Petabytes per month", Analyst: YouTube Could Lose $470M This Year, "Maybe Google Isn't Losing Big Bucks on YouTube After All", "YouTube launches pay-to-watch subscription channels", "YouTube providers could begin charging fees this week", Google purchases YouTube for $1.65 billion, https://en.wikipedia.org/w/index.php?title=History_of_YouTube&oldid=996205981, History of mass media in the United States, History of companies of the United States, Pages with non-numeric formatnum arguments, Articles with dead external links from July 2014, Articles with dead external links from March 2017, Articles with permanently dead external links, Short description is different from Wikidata, Wikipedia indefinitely semi-protected pages, Wikipedia articles in need of updating from October 2018, All Wikipedia articles in need of updating, Articles containing potentially dated statements from February 2017, All articles containing potentially dated statements, Articles containing potentially dated statements from October 2020, Articles containing potentially dated statements from May 2019, Articles with unsourced statements from April 2019, Articles with unsourced statements from November 2016, Creative Commons Attribution-ShareAlike License. [85], Google aims to compete with local video-sharing websites like Dailymotion in France. The main graph shows watch time, views, and subscribers. [81] The earliest pioneers of YouTube, many of whom have now fizzled out, were Ray William Johnson, FRED, Smosh, NigaHiga, Mail Order Comedy, BroadCity and too many more to list. In November 2005, venture firm Sequoia Capital invested an initial $3.5 million,[17] and Roelof Botha (a partner of the firm and former CFO of PayPal) joined the YouTube board of directors. [53], In October 2010, Hurley announced that he would be stepping down as the chief executive officer of YouTube to take an advisory role, with Salar Kamangar taking over as the head of the company. Available content includes video clips, TV show clips, music videos, short and documentary films, audio recordings, movie trailers, live streams, and other content such as video blogging, short original videos, and educational videos. [32], Originating in 2007, the YouTube Awards are annual awards given out in recognition of the best YouTube videos of the preceding year as voted by the YouTube community. Using YouTube for your business can be a cost-effective way to grow it, if used regularly as part of your marketing strategy. The role has evolved from its early days and has become something totally different than it originally was. YouTube's Steve Chen said its next target will be Taiwan. That is up from 66% in 2010. If you want to know more about these cookies, go to our cookie policy. In this tab you’ll also see 4 reports: Top videos: Your videos ranked by views. 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. [67], In October 2012, for the first-time ever, YouTube offered a live stream of the U.S. presidential debate and partnered with ABC News to do so.[68]. [54], James Zern, a YouTube software engineer, revealed in April 2011 that 30 percent of videos accounted for 99 percent of views on the site. [29], In 2006, Time Magazine featured a YouTube screen with a large mirror as its annual 'Time Person Of The Year'. The Overview tab shows you key metrics for your channel. 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. However, in his famous book “The Tipping Point” Malcolm Gladwell calls out mavens (as he calls influencers) as people who also have a lot of knowledge about a topic. While most brands aren’t on Walmart or Red Bull’s level, the 6 takeaways included in this post can help businesses of any size grow their YouTube presence through better channels, videos, and online content across multiple platforms. More important than her follower count is the personal brand she has been able to build. 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". I'm the CEO of Pixlee (www.pixlee.com), a venture backed startup that helps companies leverage authentic customer photos. [16] Chen made sure the page actually worked and that there would be no issues with the uploading and playback process. [19] During the summer of 2006, YouTube was one of the fastest growing sites on the World Wide Web,[20] hosting more than 65,000 new video uploads. YouTube is an excellent platform for personal use such as sharing videos with friends & family, It’s not intended to sell the products and the services, It is a popular video-sharing website that open to the public, YouTube videos will appear in both YouTube & Google search engines, You can get your brand that gets to millions of views, you can introduce your company & the benefits of your … [140][141] In October 2012, a local version of YouTube was launched in Turkey, with the domain youtube.com.tr. "[43], In January 2010,[44] YouTube introduced an online film rentals service which is currently available only to users in the US, Canada and the UK. See YouTube localisation list on the bottom of YouTube website. [8] YouTube's initial headquarters was above a pizzeria and Japanese restaurant in San Mateo, California. [73][74][75][76] In November 2013, YouTube's own YouTube channel had surpassed Felix Kjellberg's PewDiePie channel to become the most subscribed channel on the website. Hootsuite is the most widely used social media management platform, trusted by more than 16 million people and employees at 80% of the Fortune 1000. [42], Entertainment Weekly placed YouTube on its end-of-the-decade "best-of" list In December 2009, describing it as: "Providing a safe home for piano-playing cats, celeb goof-ups, and overzealous lip-synchers since 2005. [12] The idea of the new company was for non-computer experts to be able to use a simple interface that allowed the user to publish, upload and view streaming videos through standard web browsers and modern internet speeds. Influencer marketing can be loosely defined as a form of marketing that identifies and targets individuals with influence over potential buyers. By applying uses and gratifications theory, this paper will explore and discuss the uses and gratifications that consumer receive from using social media. The Rising Importance of YouTube for Musicians YouTube is key to music promotion so engage your fanbase with lyric videos, music videos and live videos. This allows you to centralize an online location for all manner of videos related to the product or service that you are marketing. [134][135], YouTube was blocked from Mainland China from October 18 due to the censorship of the Taiwanese flag. [47] 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. Follower count is the basic element of any and every organization world smaller [ citation needed,. 46 ] the service in February 2005 its next target will be Taiwan 326.... Defining the right way, you ’ ll also see your estimated revenue the. 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