Back in the mid 2000s when the whole notion of Web 2.0 was gaining traction and becoming embraced by online users and webmasters, a small online video company named YouTube started. Looking back since 2005, and especially since the purchase of YouTube by Google in 2006, it’s almost impossible to imagine an internet without YouTube.
YouTube has allowed the social and community aspect of how the web has developed in the last decade to have a much stronger media focus. The site holds millions of videos and allows a wide range of interaction between users and other users, companies to consumers, and more. YouTube is beloved by people using the internet and that’s evident in the way that the platform has become vital for news, events, and personal stories to go viral online.
Now, however, Google is looking to bring YouTube to the table of one highly profitable realm of old technology: television. Google wants to turn YouTube into the main competition for TV. TV ads bring in a much higher price than internet video ads do, and Google and every other online advertiser knows it.
This end goal of competition with TV is easy for Google to talk about, but how will they get YouTube to the point where it will take from TVs advertising dollars? There are a few ideas out there as to how Google can go about turning YouTube into a true competitor to TV advertising.
Many think that YouTube will begin to produce its own professional-level content. Google is late to this party, as Amazon and especially Netflix have taken this idea and very successfully implemented it. But there’s no reason YouTube couldn’t be another source of high-quality content. Another idea is that Google and YouTube may start to pursue contracts and exclusive deals with other content producers, especially in the sports world.
As YouTube gets a new executive to run the site in the coming weeks, be sure to keep an eye on what the company plans to do about competing for TV’s advertising dollars.