YouTube has long been the dominating force in video streaming services on the web, but they now face competition from Facebook who has already started hosting their own web videos. Despite the increase in competition, YouTube has still managed to post some impressive growth according to Ruth Porat, Google’s new CFO. Stats listed in the 2nd quarter earnings call today showcase just how much growth YouTube has obtained and how well the platform is doing, as Porat mentioned that YouTube watch time has seen a 60 percent increase compared to the same time in 2014. This is in addition to the growth YouTube has seen on mobile devices with the average user spending about 40 minutes watching videos, (whether it be a collection of videos or one long stream) a detail which has helped YouTube on mobile’s growth rate double compared to last year.
While Google was open about how much growth YouTube has seen, they still haven’t opened up about how much revenue YouTube actually brings in. This makes some sense as revenue information is something which Porat herself referred to as “competitively sensitive information.” We may never know how much YouTube makes for Google every year, but those details likely don’t matter to the user so long as YouTube continues to grow and offer compelling content and features, which has been the case so far since Google took over YouTube some years ago.
Part of these new features include YouTube and Google’s commitment to offering content which is categorized under a family and kid friendly tag through the launch of the new YouTube Kids app and service, as well as the upcoming YouTube Gaming service which is set to launch sometime soon to take on Twitch which is the current dominant entity in the space for game streaming. Once YouTube Gaming is in full swing, it’ll be interesting to see what YouTube’s growth is like next year. In addition to these two new offerings, Google is adding a slew of new content and changes to YouTube like the experimental web player redesign, 360 degree videos and support for 60fps second video streams, all which are things which should help boost YouTube’s engagement even more.