We live in a world where the work environment for ordinary people is tiring and gruesome. Life gets pale without any sort of entertainment. If you are lucky enough to make more than an average monthly income, then spending money on entertainment and infotainment is a cakewalk. If you live in New York, broadways are the kind of entertainment you have access to, while the rest of the world is bored to death, or is it? YouTube has made ordinary people’s lives colorful and has given a good life to hardworking creators.
Today, no matter where you live globally, a good internet connection gets rid of boredom. There are around 37 million channels on YouTube of a plethora of genres. Getting bored on YouTube is highly unlikely.
YouTube was first launched in the year 2005, and in just two years, 700 billion users signed into a YouTube account. The platform has been changing ever since, which includes updating norms on monetization and content curation. One should be aware that the growth is expected to grow even further as more and more people are investing in smartphones with YouTube downloaded in it as a default application.
YouTube has introduced the world to a new occupation which is a YouTuber. YouTuber as a profession is becoming popular. This is because it offers fame, money, and the opportunity to work at your own pace. At first, the traditional families were hesitant when it comes to blogging or starting a channel on YouTube. Today, the demand for choosing an occupation as a YouTuber has been increasing dramatically. With the updated norms and monetization methods, it has become challenging to rise on the top, but the demand for becoming a famous YouTuber has been sky-rocketing.
Major career choices from becoming a doctor, a lawyer have been dropping down, and the preferred option has become blogging. Who wouldn’t like to blog and travel for free? Who wouldn’t like to earn money by doing something they love? Who wouldn’t want to have a career without answering the boss?
Thus, one can clearly say that YouTube has changed the world with entertainment giving the world a chance of becoming something new. The narrative discussed opening a channel, but the popularity of YouTube as an entertainment platform is discussed in further chapters.
Popularity reasons for YouTube
As discussed previously, when the demand for opening a channel for YouTube has been increased, there is a vast range of choices available. The platform comprises a plethora of entertainment channels. These entertainment channels have attracted a vast audience worldwide. One of the reasons people use YouTube is the simplicity and ease of handling the user interface.
YouTube for Entertainment
There are many entertainment channels on YouTube. The genre of media includes comedy shows to conspiracy theories. There are many options to choose from; Dying from boredom is highly impossible when you have YouTube installed on your phone. For instance, if you are a massive fan of traveling, watching travel vlogs will keep you entertained. Places that are difficult or economically impossible for middle-income people can now visit by a simple user search on YouTube.
Places like North Korea, which many don’t know about, can also be found on YouTube. If you are interested in cooking, then there are many cooking channels to choose from with cuisines worldwide. Therefore, if you wish to make a Spanish dish such as Gazpacho or Tortilla, one can find instructional videos about it on YouTube.
These are just examples, but there are many other channel genres you could choose from. Students who find it challenging to catch up in class can easily cope by finding study material on different channels. Getting educated in various aspects and developing unique skills is possible with the help of channels on YouTube. Who wouldn’t want to have such a platform where your wishes are granted, like scratching out a genie from the bottle? It is obvious the deliverance offered by YouTube has made it popular even in 2021.
YouTube as a platform for Creators
As much as YouTube’s popularity credit should be given to the users watching different channels, the creators also deserve the credit. It would not be possible for YouTube alone to be able to form a diverse platform where one can achieve so much. The travel vlogs, or cooking channels that you like so much would not be possible if the creator or the YouTuber did not make the content. YouTube would be like a desert, with absolutely nothing in it.
The creators are the life of YouTube, and if new content is not available on the channel, people might switch to other entertainment options. Since there are many creators and new content daily, it is highly unlikely that YouTube will lose its fame in 2021. Hence, the growth of YouTube is inevitable.
YouTube as a platform for Business
YouTube has grown from various investors such as Sequoia Capital, Artis Capital Management, and Venture Capital. Each invested 3.5 million dollars, 8 million dollars, respectively. Google made a whopping 1.65-billion-dollar investment has been benefitted ever since. It is the best platform to offer sales pitches due to viewer ratings, comment features, live streaming platforms, and content algorithms. Creators do have an ulterior motive and, i.e., getting famous and wealthy.
As YouTube is like a slingshot that can instantly get you fame and success, more and more creators invest their time and money. Owners of YouTube channels have now made it a business turf. With added advertisements and product promotions, the creator can monetize their videos. The efforts of such popular creators are awarded handsomely.
YouTube has become a platform or Business. The motivation to be the best channel and prove the best channel is driven due to the Business aspect of YouTube. In a way, creators are employees of YouTube. YouTube has motivated them to be their best and, in return, a rewarding career. When such a notion is established chances of YouTube getting even more popular is indeed inevitable. It now becomes easier to estimate that people on YouTube are growing like stars in the sky.
Research done by Buffer in 2019 suggested that 62% of Businesses host content on this platform. It has also been observed that around 5-7% of small businesses in the US use YouTube as a channel. The Google subsidiary disclosed that the platform made more than 15 billion dollars in ad revenue in 2019, a 36% increment than the year 2018.
The YouTube market
YouTube is a growing market for a new era of sales and marketing strategies. Reviews on YouTube are highly trusted than any other blogging or review service. Give below are the statistical data providing insights into the growing market of YouTube.
Statistical data of the users
The video streaming platform currently has over 2.3 billion users. It has been ranked as the second most famous social media network worldwide. The number of users on YouTube has also made it possible to get a better reach, thus ensuring the best marketing strategies for using YouTube as a platform for Business.
A survey by Oberlo concluded that more than 75% of internet users possess an account on YouTube. It has become the user’s choice for entertainment as it a free streaming service, unlike Netflix. Today, getting a thing for free is a luxury that everyone chooses on this planet. Even though it offers free services, this subsidiary of Google makes more than a billion dollars each year.
Another survey by Oberlo based on video streaming time suggested that one billion views are obtained daily on an average. Due to this, the YouTube search engine has been ranked the second most powerful search engine. Thus, it makes complete sense as many instructional and educational videos are available by a basic search.
Two billion users are a considerable number making one-third of the internet population worldwide. Further research has suggested that in the US, YouTube can reach many households compared to Television networks like CW, CNN, ABC, and NBC. Over two billion views infer over two billion ad views which means that the revenue generated is over billions or trillions of dollars. Despite YouTube introducing advertisement services, the platform is booming.
Another reason for individuals choosing this streaming platform is that it has been localized in over a hundred countries and is available in 80 different international and regional languages. You will be shocked to know that majority of the videos posted are not in English. English videos only make up about 28% of the total videos posted.
The remaining 60-67% have a different language altogether. Understanding the market and making it your turf is what will help you grown on YouTube. The statistical data on the users, therefore, conclude that YouTube as a video-streaming service is growing.
Statistical data of the Creators
Creators are the central system and the lifeline of YouTube. Without creators, the platform would be null and void. Due to which its fame and popularity would decrease. Without creators, there would not be any content. YouTube is just a platform that allows creators to post their content. Thus, the relationship between YouTube and its content creators are unique and function as a symbiotic relationship.
Both gain advantages benefitted from a mutual interest. Currently, there are over 50 million creators on YouTube of different ethnic backgrounds. Initially, in 2005, the numbers were relatively low, but in 2021 it has sky-rocketed.
There are more than 1540 million smartphones sold each year that comes with a pre-installed YouTube application. The number of smartphones releasing each year with amazing video shooting specs has given rise to video creators. This is because it is easier to edit, shot 4K HD videos, slow-motion videos due to high-tech features. More creator is directly proportional to more content. More content helps achieve more views. Thus, the platform is growing.
Device preference for using YouTube
A survey conducted by YouTube has concluded that more than 70% of the users opt for Mobile devices instead of Desktops to stream videos. Mobile devices are highly preferred as it is the cheapest option. It is feasible and affordable for many. The majority of users (about 81%) belong to the Gen Z group. Gen Z refers to age groups between 15-20. Teenagers use mobile devices to a greater extent than laptops, tablets, or smart TVs.
Psychologically it is because mobile phones give them the comfort of privacy. At the same time, a bigger screen keeps them insecure. With the massive volume of smartphones being sold each year, it is safe to assume that many individuals watch videos on their mobile devices. Younger kids throw tantrums to get a smartphone from their parents, but very few do the same for desktops.
Video playback controls are sophisticated on the mobile app interface. Navigation options are highly advanced and smooth when it comes to using YouTube on mobile phones. Android, as well as iOS users, prefer using smaller high-definition screens than computers.
Furthermore, it has been observed that around 62% of smartphone users discover YouTube by a basic Google search. Using your fingerprint and unlocking your smartphone is faster as compared to starting your laptop. In situations of performing emergency tasks such as understanding concepts, finding project options; Mobile phones are easier to browse and surf.
Usage comparison between Netflix, Amazon Prime and YouTube
According to Statistica, when you search “Top video-streaming platforms in the world,” YouTube ranks at the top with around 163 million users in the US. This is because free content is available. Investing in entertainment might not seem like a good idea to many, especially for those who find it challenging to afford two meals a day.
Next in line comes Netflix, Hulu, and Amazon Prime. Netflix and Amazon prime have 46.5 million (Which is four times that of Netflix) users and 16.46 million users respectively in the US alone. Netflix offers diverse series and movies from various countries. Despite this fact, why does it have lower users than YouTube? The answer simply lies in the versatility of YouTube as a streaming platform.
It is easier to find Korean dramas, Hollywood hits on Netflix, but on YouTube, one finds interviews and talk shows for the actors who had been casted in those series or movies. Thus, users on Netflix are not restricted to Netflix as they use YouTube as well. Whereas users on YouTube do not use Netflix has it demand monthly subscriptions. The same applies to Amazon Prime, even though it offers a faster and free delivery service.
Teenagers often prefer YouTube over Netflix, which has been verified by a study conducted by Piper Jaffray Fall in 2019. The lead was just by 2%.
Paid version of YouTube
The argument made earlier referring to YouTube being popular due to free entertainment might not precisely accurate. Despite YouTube being a free streaming platform, in 2018, it offered premium services at a subscription cost. Yes! This is in reference to YouTube premium. The premium account includes ad-free streaming, TV shows, movies, and, most of all, proper background usage. YouTube premium received more than 20 million users signing up for a premium account.
The top-ranking video-streaming platform has now been introduced in the market of TV shows and movies. The premium version of YouTube is an attempt to take over Netflix and Amazon Prime.
Just like Netflix’s Original series, YouTube has also been launching TV shows which are gaining the pace of fame and glamour. It is now a very tight competition. But whether or not YouTube is successful in making YouTube premium a colossal gig, the growth of YouTube is inevitable because it a warehouse of knowledgeable and entertainment videos.
Popular niche on YouTube
The competition gets more manageable if you lie in genres that attract more attention. Major Traction from YouTube is expected from channels such as comedy skits, beauty, and cosmetics. With 50 million videos being posted every day, the competition is tough. Such kind of channels have billions of subscribers, helping them have a wider reach. There are over millions of such media from various parts of the world. Therefore, one can say that there are many users attracted to such channels. Next in line comes skill learning channels such as coding, animations, graphics, and DIY hacks.
The comedy entertainment channels alone attract 17 million to 20 million subscribers, which is evident by the track Jenna Marbles and Ryan Higa. Furthermore, travel channels attract on an average over five million views. For instance, Kara and Nate travel vlogs attract such a massive number of views. Beauty channels are gaining more attention thanks to the booking influencer market.
Beauty channels alone are capable of reaching a broader audience ad achieving over 8 million views. YouTube no longer requires promotions as the creators themselves are doing the hard work of reaching a wider audience. Therefore, channels promoting travel, beauty tips, hacks, fashion, gaming, techs, pranks, and health & fitness makes the life of this video-streaming service easier by attracting a large chunk of the internet population.
YouTube Kids a subsidiary of YouTube
Adult or misleading content on YouTube had been a growing concern of parents worldwide. This caused a dropped in parents allowing children to use YouTube for video streaming. YouTube came up with a brilliant solution for YouTube kids, which had been launched in February 2015. YouTube kids help curate content that is well suited for kids. This established trust between parents and the platform aiding in more people using YouTube in 2021.
Furthermore, animated content on YouTube kids is attracting many individuals accounting for billions of views daily. The YouTube kids’ app had been installed and used by 24.6 million users, close to numbers accounted for Netflix and Amazon Prime. Another subsidiary of YouTube called as YouTube Music has been gaining popularity which is a part of music premium.
Countries that use YouTube popularly
The country which has high YouTube usage is the United States which does not come as a surprise. Next in line is Brazil, Russia, Japan, India, and the United Kingdom. China and North Korea have completely banned their citizens from using YouTube.
Despite, China having the largest population in the world the ban does not completely reflect on YouTube’s performance. There will be a point in future where the Chinese will endorse YouTube and lift the ban. The advertisement revenue in the US is completely dependent on YouTube since major population of the US watch YouTube. Every year a 4% growth is expect to occur in US in the number of users signing up for a YouTube account.
The distribution of audience and their taste has made YouTube a diverse platform. It is not easier to get rid of YouTube once you get a hand over it. Ever since the initial launch of YouTube in 2005, the numbers are just increasing and not decreasing. Every year users are incrementing by 25%, which is a considerable number. Despite Netflix and Amazon Prime’s offers to attract Gen Z users, YouTube remains standing as tough as a mountain. The introduction of casting features has made YouTube an ideal choice. Since now, it is possible to ditch TV subscriptions and use YouTube on smart TVs.
Imagine 400 hours of videos are uploaded daily, which is more than enough to last years to come. Statistical has projected that YouTube will reach 1.86 billion users by the end of 2021. The pandemic has increased the pace even more as YouTube was a rescuer from boredom. YouTube is indeed the Entertainment industry’s future, and soon it will become the most powerful platform to express art and views. Consider opening a YouTube channel in 2021; fame and fortune are on your way.