YouTube was initiated in 2005 with the sole purpose of video streaming. It has evolved into a powerful marketing platform with over 1 billion active users. Handling 15% of global video traffic alone, it has become the second largest search engine of the world with increasing numbers of users day-to-day.
In this digital era where video content is the medium of choice for learning as well as entertainment, YouTube offers businesses a perfect opportunity to get on the bandwagon of marketing. This explains why a clear majority of marketers set their sights on tapping on the global reach the platform offers.
YouTube allows businesses to peddle their goods in two simple ways. One by allowing them to create their own YouTube channel to execute their marketing strategies second by letting them advertise their products on the videos streamed on the platform.
Nonetheless, the path to success in YouTube marketing has been blocked by numerous hurdles in the past few years, with more than 50 million content creators keeping YouTube uncluttered with their jaw-dropping content.
Even getting your content recognized on this global platform is burdensome. Every minute people around the globe upload more than 300 hours’ worth of video footage on this platform just within a minute.
These videos cover a vast area of topics from day-to-day challenges to the topic anyone cares to upload. Moreover, these videos are readily share-able on different social media, emails, and different websites.
YouTube pays a creator for the skills after a certain period and some conditions. Creators try their best to get their channel monetized by YouTube for the sake of making their lives a lot easier. YouTube pays creators to appreciate their efforts, subject to the fulfillment of certain conditions, such as having at least 1000 subscribers and 4000 hours of watch time per year.
Earning through your channel can be easy but using YouTube ad revenue to score high can be hard. Enabling ads on your YouTube videos requires you to comply with Google’s ad revenue share for YouTube.
There is a 45-to-55 split for all content creators, so Google keeps 45 percent of all YouTube videos.
Individuals artists make millions of dollars through You tube’s advertising but those millions come with great risks as it is controlled by a Third Party, leaving their income vulnerable as even a minor changes in the algorithm could break the video traffic, causing digital panic around the globe.
Creators try their level best to produce something which meets the eye of viewers. Being an inspiration to all those who wander YouTube is also kingpin of the new Trends.
Not only this, but YouTube is also the hub of the greatest music of all time. According to Mandur Thakur, the CEO of Times Music:
“Digital music consumption evolved fast from a piecemeal consumption model in the form of ring-tones and ring backs onto downloads, and now onto streaming and subscription – reflecting today’s consumer reality that rental of music via streaming/subscriptions trumps the ownership of music v/s downloads.”
As evident from the global markets, digital is the future of the music industry. Currently, the music industry is undergoing an evolution toward digital delivery platforms and digital consumption habits. While the music industry in India only has grown to ` 10.7 billion in 2014 24 at a CAGR of 5.5% only over the past four years, it is expected to grow at a CAGR of more than 24% till 2017 mostly driven by the digital music segment.
The digital on-demand content market is still evolving and the creators are experimenting with multiple monetization models, the most popular ones being subscription-based and advertisement based models.
Currently, consumer willingness to pay for content is hindered by rampant content piracy, however, a shift has been observed in the consumer attitude in recent times. This has been due to the various innovative products and strategies adopted by the creators.
Every year YouTube’s content diverges and takes new forms to meet the audience’s demand. In recent years, your tube’s timeline has been filled with controversial leitmotif and politics. Individuals have been seen to show a keen interest in mainstream speeches and thoughts shared by the officials.
It seems to be that YouTube is going to be the graphic version of Twitter. People love to share their opinions and thoughts the same as twitter but now they can share its canned version using the platform. With more and more content to watch YouTube is ranked as the most pre-eminent search engine so far.