With the rise of video streaming since YouTube’s inception in 2005, we’ve seen a huge surge in the amount of users consuming online video content.
And with anything the first of its kind, competitors are bound to follow. Content streamers like Netflix were quick to follow suit, taking note of YouTube’s massive success for curated video content.
Netflix specifically posed a serious threat when it came out. The subscription-based TV/Film streaming service did what YouTube didn’t immediately capitalize on: making money off of its subscribers. Other video streaming services like Hulu, Amazon, and Shomi quickly followed suit, diversifying their content to accommodate Netflix’s library limitations.
As for mainstream television – be it cable or network – the study found that only 51% of teens and young adults (aged 13-24) preferred television (in comparison to YouTube’s 67%).
This percentage indicates one thing: YouTube is here to stay. The user-friendly site allows for its users to upload videos of pretty much anything. While it’s still unsure what this actually means for the future of content creation, it’s clear that both Millennials and Generation X’ers prefer to retain this virtual freedom.
What does this say about our culture? Are we a generation who prefers to push the envelope or are we really as narcissistic as they say? Forward-thinking companies would benefit from putting content in a public forum that is easily sharable to all. Even if this means enduring 30-second ads in the process.
YouTube is not only known for its easy-to-share interface but also for its sense of connection. YouTube has incorporated algorithms to make it easier for us to find content suited to our specific interests.
This is not to say that other forums have not tried to implement the same concept. Facebook recently introduced its own live streaming, allowing users to post video streams on their timelines.
We at Key West Video like to think that we are a generation who has a say in the content we consume. If you are a progressive company looking to reach a digital audience through video, contact us for a quote today!
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