Last decade, witnessed quite a steep progress of Video demand of video-on-demand uploaded on social and professional network such as LinkedIn, YouTube, Facebook, Instagram and Twitter. Out of all the video sharing and uploading websites Youtube is on the top of the chart with 31 million youtube channels created by its users who watch millions of hours of the video footage and gives billions of views to the website which generate billions of dollars through the advertising revenue through the video content by putting advert very strategically. This business model is called “Prosumer” business model where one active user could be “Producer” of the content and similarly becomes “Consumer” of the content as well.
According to statista, The most popular social media network, undoubtedly is Facebook which has almost 2.5 billion users by second quarter of the year 2019 and as you are reading this blog, users are continuously increasing minute by minute. Instagram is also doing amazingly well having more than 1 billion active users by the year 2019 and vast number of the users are below 35 years of age.
Twitter is also catching up with its 330 million users in 2019 but sadly not increasing with the pace of Facebook or Instagram.
If we talk about professional networking website, LinkedIn is an obvious choice of the masses, LinkedIn has 575 million users
The biggest video library youtube has nearly 2 billion users, acquired in the year 2006 by google with the costliest prise tag of 1.65 billion. However 79% of the Google users having their account on youtube but because of the google umbrella youtube flourished to an extent that today living without youtube has become just like a life but without any source of entertainment.
According to a research, almost 1,300,000,000 hrs of videos are being uploaded on YouTube every minute, yeah you read it right. Almost 5 billion videos are watched on Youtube every single day. well, after having states i was curious to know that, How much money does YouTube make? i tried google to find out the answer but i could not get to the relevant result rather google keeps on telling me how much money i could make through youtube… but i assure you that if we ever get to know the figure we would get a huge shocker of the life…
Facebook realised the importance/power of videos very late inspite of having ready to serve platform and billions of “Prosumers” ready to participate actively into video content process it failed to launched the monetised the audio-video format and lost billions of dollars. In the year 2017, it announced video-on-demand (VOD) to roll out across all the US with the name of “Facebook Watch”
Just like Youtube revenue model, Facebook also shares the advertising revenue with the unique content provider in video format, in this formulation, Facebook keeps 45% and give 55% to the content producer.
Industry insiders reckon that Facebook watch may over take Youtube in few years time because of the huge data base, and owning the two major video sharing platforms such as WhatsApp and Instagram. Collectively, they are a potential threat to the youtube platform which is ruling over the Video Industry from last 15 years.
Reference taken : d
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