YouTube Growth is Almost Shocking
YouTube, the leader in Internet video search, said on Sunday viewers have are now watching more than 100 million videos per day on its site, marking the surge in demand for its “snack-sized” video fare.
Since springing from out of nowhere late last year, YouTube has come to hold the leading position in online video with 29 percent of the U.S. multimedia entertainment market, according to the latest weekly data from Web measurement site Hitwise.
YouTube videos account for 60 percent of all videos watched online, the company said. Videos are delivered free on YouTube and the company is still working on developing advertising and other means of generating revenue to support the business.
And what about this: YouTube had 58,000 visitors in August, 2005; how many does it get on a monthly basis today? The site has 20 million uniques. That’s less than a year later.
The site has started showing banner ads and has struck a deal with NBC, with suggestions of other such deals in the works. Even though the site has limited revenues, it would probably now fetch an astronomically high purchase price given its growth and growing brand equity.
Greg Sterling is the founding principal of Sterling Market Intelligence, a consulting and research firm focused on online consumer and advertiser behavior and the relationship between the Internet and traditional media, with an emphasis on the local marketplace.