Long gone are the days of flipping through a handful of network channels on a television set (heaven forbid without a remote!) to find something to watch on the tube. Never mind the endless reruns! Very few new or exciting offerings ever came on the air.
Think about it. Even now when friends or family gather around the screen, not everyone gets to watch what they want. For this reason, they would rather look at their phone and browse either Facebook or YouTube. This makes one wonder — how much longer will regular network TV even be around?
Social media and online media services (such as YouTube) have taken center stage as they prove over and over again to be a tremendous power in the media business. There are viewers of all ages enjoying YouTube every single day. While millions of views are significant in the television and movie worlds, they simply pale in comparison to the billions of views that YouTube gets on a daily basis.
Companies have seen the impact YouTube has on consumers and are investing large amounts of money on advertising distributed throughout the site, including targeted videos. This means that YouTube has become an important advertising tool for companies wanting to extend their brand reach and reputation. It has even been stated that if your company does not advertise on YouTube, it is likely to be losing customers. YouTube is aware of this, now making advertisers pay for extended reach and the frequency with which their ads are played with certain videos.
YouTube also noticed that users will pay to avoid having to watch advertisements and has implemented a system called “YouTube Red.” This is unique in that it allows viewers to gain access to interesting features, such as playing videos while phones are in sleep mode or bypassing advertisements. Much like Netflix, subscribers to this service must pay a monthly fee to avoid ads.
From a small site for sharing homemade videos, YouTube has grown into a giant in the advertising and media distribution arenas. YouTube knows it’s a gigantic force to reckoned with. At the same time, it is not only a beneficial force for its company, but also for its advertisers.
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