Friday, August 29, 2014

YouTube: Hollywood's Hit Factory for Teen Entertainment - Businessweek

An excerpt from the latest Bloomberg BusinessWeek cover story

"It’s perhaps inevitable that Hollywood eventually turned its tool kit to YouTube. The platform’s net global advertising revenue continues to grow, from $1.2 billion in 2012 to a projected $3.4 billion this year, according to estimates from EMarketer. Every month, 1 billion people around the planet go to YouTube, where they collectively consume some 6 billion hours of video. Every minute, 100 more hours of programming are added to the platform.


With summer TV ratings falling, the domestic movie box office down sharply, and upfront sales of TV advertising surprisingly weak, a slew of mergers, acquisitions, and investment has shaken the YouTube cosmos. Big media companies, which a few years ago were furiously filing copyright lawsuits against YouTube, are jostling for a piece of the action."
YouTube: Hollywood's Hit Factory for Teen Entertainment - Businessweek

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