Popular video streaming site YouTube has announced that more than 1 billion people are now frequenting the site each month. The milestone was announced last Wednesday at an event clad with advertisers and featured performances in Santa Monica. Some of the site’s biggest stars, such as CDZA and Monsters Calling Home were there.
This is a huge step for the company, considering they were a small start-up in 2005. YouTube has turned into one of the most influential forces in media, even effecting where songs will be placed on the Billboard charts depending on how many YouTube views they have.
According to the Detroit Free Press, YouTube crossed the 1 billion threshold five months after Facebook Inc. said its online social network had reached that figure for the first time. In October 2011, YouTube had around 800 million monthly visitors.
YouTube’s ability to capture a vast audience allows the site to be an outlet for a number of various selling ads beyond just one key demographic.
Google purchased YouTube in 2006 for $1.76 billion, when the site had around 50 million users. Wedensday’s party was also an announcement about how YouTube is refocusing their channel-funding strategy. Previously, Robert Kyncl, vice president and global head of content partnerships, acknowledged to reporters that the channel funding strategy had not worked as well as hoped.
When asked if the channel funding investment had paid off, Kyncl said, “Every year we reserve the right to get smarter.”
According to the Detroit Free Press, Kyncl continued to say that while YouTube was committed to continuing to invest in content, he said more of such investment in the future would go to those channels that had already proven they can be successful at building an audience on their own.
“What we’re looking for is the acceleration of those who are figuring out how to retail their content,” he said.
Source: The Detroit Free Press