Chad Hurley, Jawed Karim, and Steve Chen became mates when they worked for PayPal where Karim was one of the founders. In early 2005 they were at a party to which many folks had brought their video recorders. Conversation turned to how hard it was to share videos with others using the web. By February they were testing their system online and getting a great reply. The reply was strong enough that in November YouTube received $3.5 million in venture capital funding from Sequoia Capital. Many millions of people have been waiting for YouTube. When the site launched officially, in December 2005, it already had more than 1,000,000 short video clips.

By Apr 2006 users were watching 35 million videos a day on YouTube. The company received another round of funding from Sequoia Capital : $8 million to grow sales and promotional efforts and build-out the info centers. In October, Google agreed to buy YouTube for $1.65 bn. In Google stock. At about that point YouTube visitors were downloading over a hundred million videos a day. The acquisition was finished in February 2007. Talking at the Library of Congress in June 2008, Professor Michael Wesch of Kansas State College described the impact of YouTube. “YouTube produced more hours of video during the past half a year than the 3 major networks have produced since 1948. “.

Obviously , YouTube is a critical force online and in digital media but as Professor Wesch also mentioned the bulk of videos on YouTube today are short, beginner videos of 3 mins or less. YouTube today isn’t what YouTube will be in a year or three years. The changes are driven by some powerful trends and will follow obvious patterns ; Understanding them will help you to get out in front of the curve.

Promoters using YouTube benefit from the commercial substructure that is already in place online and the level to which people around the globe became used to shopping on the internet. According to Nielsen worldwide as of February 2008, 875 million people worldwide have bought something on the web. Purchasing is strong across many nations. When it comes down to direct purchasing influence, the numbers are lower but don’t forget we are considering the influence of a single site so the statistics info are electrifying. 35 p.c of YouTube users have purchased something online that they saw publicized on YouTube and thirty p.c have followed a YouTube link to make a purchase. These figures are actually depressed since users include a big proportion of kids who do not have a Credit card to make net purchases.

Generally, the buying demographics of YouTube follow those for the web in total. With the exception of youngsters, younger folks are much more likely to buy online than older folks. Men are more sure to get online than women. The commercial action on YouTube isn’t restricted to shoppers. Twenty-five percent of visitors to YouTube have employed the site for business. About half them do so continually or at a minimum sometimes. From our research we identify that YouTube’s commercial use breaks down into three main classes. Nearly half business users are trying to find more info about a subject which will help them commercially. 40 5 p.c are looking for information about goods and services to get and twenty-eight pc are checking out the competition. YouTube is a market you can exploit.

YouTube is one of the most powerful marketing platforms on the web right now. YouTubeReport.net gives you the latest YouTube user patterns that you can use to use YouTube to give you a competitive advantage over your competitors.

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