Google Buys YouTube

Since buying my mini camcorder I’ve been interested in finding ways to market using online video. YouTube has the largest online video collection on the Net. This is mainly due to allowing anyone to upload an amateur video to their site for free. You can then create a link to the video from your site. You don’t have to use your own bandwidth.

Oct 10th, 2006 Google purchased YouTube for $1.65 billion. That’s a substantial amount of money to earn for the 2 young owners who launched YouTube only 19 months ago from their garage. The sale made them instant multimillionaires.

YouTube has become one of the most popular video-sharing sites on the web. 100 million video clips are viewed every day by approximately 100 million users. The video clips include sports events, music samples, political speeches and TV shows.

Benefits for YouTube

Extend their global reach
Provide a more comprehensive entertainment experience

Benefits for Google

Increase number of video streams
Create advertising revenue

Benefits for You

YouTube users could be paid for their video clips Those who upload clips could get a piece of advertising revenue from pages containing their videos.

Looking into the Future

Online video is relatively new as of this date (Oct 10, 2006), however the fact that YouTube grew so quickly within 2 years shows how popular online videos have become. I think this can mainly be attributed to the fact that people have found an outlet to express their individuality or can easily market their products without even having a web site. They can just upload it to YouTube!

I predict online video sharing will grow very rapidly especially with high speed internet becoming available and affordable to almost everyone.

Just look at how much CNN is using video for viewing news clips.

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