A smartphone with a displayed YouTube logo is placed on a computer motherboard in this illustration taken February 23, 2023.
Photo Credit: REUTERS/Dado Ruvic/Illustration
With close to three billion active user base, YouTube is the second biggest search platform in the world.
It has everything from information on setting up a phone to fun prank videos, music, movies and several entertainment options to pass the time while on a long journey. In recent years, Shorts, small byte-sized fun videos have become a rage on the internet.
Thanks to YouTube's fair ad-revenue sharing initiative, both long-form and Shorts have become huge a source of income for millions of creators.
There are more than three million Channels under YouTube Partner Programme and the company has doled out $70 billion to creators and media houses in the last three years, making it the world's largest monetisation platform.
As we enter 2024, YouTube CEO is betting big on generative AI to make creators further blur the content quality difference between homemade and motion picture studios.
In late 2023, YouTube introduced Dream Track and Dream Screen which was rolled out to select registered content creators to deliver high-quality content. The feedback has been great and YouTube believes the two new-gen AI-powered tools to make YouTube a level-playing field for all.
"We’re leveling the playing field and developing AI tools that empower everyone. Our commitment to democratizing access to AI builds on the ways we’re enabling everyone to share fun videos right from their phones with Shorts. The next generation of storytellers has the power to create in the palm of their hands. Shorts is an easy way for anyone to get started, and AI innovation will make it possible for even more people to create. I love seeing how people use Shorts to participate in cultural moments," said Neal Mohan, Chief Executive Officer, YouTube.
And, the Alphabet-owned company has an ambitious aim to become the ultimate entertainment destination in the living room.
On average, viewers are consuming more than one billion hours per day on TVs around the world.
YouTube Music and Premium subscription has breached 100 million and the YouTube TV has managed to hook eight million subscribers.
Recently, it offered access to the first season of NFL Sunday Ticket on YouTube, and the response from the consumers has been great in the US.
YouTube will build on this to acquire more sports streaming rights worldwide soon.
Also, with more than 50 elections slated to happen world including in India and the US, the two oldest and largest democratic nations, YouTube promises to deliver genuine news reports from authentic news portals on its platform.
And, ensure all synthetically generated content has markers to help consumers differentiate them from original content.
"We are quick to evolve and adapt when new challenges emerge, and we’ll do so again as generative AI makes more sophisticated deepfakes possible and raises new questions. Not only do all of our existing policies apply to synthetically generated content, but we’ll also add new layers of transparency and protections. For example, in the coming months, we’ll introduce labels that inform viewers when the realistic content they’re seeing is synthetic," Mohan noted.
Also, YouTube will ensure content streamed on YouTube Kids offers value-addition to young children and teenagers to help them not just with tutorials to complete homework, but also for fun activities that can performed with loved ones at home.
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