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