YouTube
YouTube is an online video sharing platform owned by Google. YouTube was founded on February 14, 2005, by Steve Chen, Chad Hurley, and Jawed Karim, three former employees of PayPal. Headquartered in San Bruno, California, United States, it is the second-most visited website in the world, after Google Search. In January 2024, YouTube had more than 2.7 billion monthly active users, who collectively watched more than one billion hours of videos every day. As of May 2019, videos were being uploaded to the platform at a rate of more than 500 hours of content per minute, and as of 2021, there were approximately 14 billion videos in total.
On the 9th of October 2006, YouTube was purchased by Google for $1.65 billion (equivalent to $2.31 billion in 2023). Google expanded YouTube’s business model of generating revenue from advertisements alone, to offering paid content such as movies and exclusive content produced by and for YouTube. It also offers YouTube Premium, a paid subscription option for watching content without ads. YouTube incorporated Google’s AdSense program, generating more revenue for both YouTube and approved content creators. In 2022, YouTube’s annual advertising revenue increased to $29.2 billion, more than $9 billion higher than in 2020.
Since its purchase by Google, YouTube has expanded beyond the core website into mobile apps, network television, and the ability to link with other platforms. Video categories on YouTube include music videos, video clips, news, short and feature films, songs, documentaries, movie trailers, teasers and TV spots, live streams, vlogs, and more. Most content is generated by individuals, including collaborations between “YouTubers” and corporate sponsors. Established media, news, and entertainment corporations have also created and expanded their visibility to YouTube channels in order to reach greater audiences.
YouTube has had unprecedented social impact, influencing popular culture, internet trends, and creating multimillionaire celebrities. Despite its growth and success, the platform is sometimes criticized for facilitating the spread of misinformation and copyrighted content, routinely violating its users’ privacy, excessive censorship, endangering child safety and wellbeing, and for its inconsistent or incorrect implementation of platform guidelines.
