We all are familiar with the term “The Paypal Mafia”, term used for extraordinary ex-employees of Paypal who started their own innovative startups and turned those startups into Silicon Valley giants. Few of the examples are Tesla, SpaceX, Yelp.com, Yammer and YouTube.
One of the gift that modern society received from ex-employees of Paypal, Chad Hurley, Steve Chen, and Jawed Karim is YouTube. YouTube went live with their domain on 14th February, 2005 and it got its first video uploaded on 23rd April, 2005 by co-founder Jawed Karim titled “Me at the zoo”, which was 18 second video shot at San Diego Zoo.
YouTube is today second largest search engine and second most visited website after its acquirer Google with 1.9 Billion users. Google acquired YouTube in 2006 at staggering valuation of $1.65 Billion. Some of the additional facts about YouTube which can make marketers look into developing appropriate marketing communication strategy are:
- 400 hours of video are uploaded daily
- 70% viewership comes from mobile
- Average mobile session is of 40 minutes
- Average 1,000,000,000 mobile video views per day
- Users watch more than 180 million hours of content on TV screens every day.
- The time people spend watching YouTube on their TV has more than doubled in the last year.
- Luis Fonsi’s “Despacito” featuring Daddy Yankee is the most-watched video on YouTube with 5.96 billion views in two years.
- Half of YouTube users use the site to work out how to do things they’ve not done before
- 9% of small US bases businesses use YouTube
- The number of channels earning six figures each year on YouTube has increased by 40% year on year
- YouTube reaches more adults aged 18-49 during prime time than any cable network does in an average week.
- 75% of adults are being reported watching YouTube on their mobile devices.
- YouTube mobile ads are 84% more likely to hold attention than TV ads.
- 46% of millennials and 59% of Generation Z have increased their YouTube usage since last year.
- 70% of millennial YouTube users watched a YouTube video to learn how to do something new
- YouTube is available in 91+ countries and more than 80 languages.
- 68% of YouTube users who watched a video to help them make a purchase decision
- Relaxing” and “feeling entertained” are the top two reasons viewers watch YouTube.
- Comedy, music, entertainment/pop culture, and “how to” are the four most popular content categories on YouTube.
More facts and figures are available online to understand the impact YouTube has created in the life of the people across geographies and how it has turned itself as an integral part of user’s life. Marketers have identified the potential YouTube could deliver in their quest but still a good set of people still recuse themselves from exploring YouTube options.