Its official , on March the 20th 2013, YouTube reaches a new milestone of one billion users per Month. In other words, with this many unique people it could be the third largest country in the world after China and India. That represents nearly one out of every two people on the Internet that visits YouTube.
What is powering that growth?
The success of YouTube, as their company names indicates, is “You”. Or Generation C, the experts at Nielsen, a leading global information and measurement company, calls it.
Generation C is defined by four criteria: connection, creation, community and curation. Overall, They are connected to multiple screens and watch videos switching between devices. They also create content and upload videos on YouTube. They are always on the lookout for popular videos that they can share with their community. And they are sensitive to the quality of the video they watch.
“To be, or not to be, that is the question” Shakespeare
What would be the advantage of adopting such model?
First, it would simplify the job of advertisers and marketers and it will help them target their audience in a more effective way. With social platforms such as Facebook, Twitter and YouTube the relationship between the end-user and the manufacturer changed dramatically. Creating a paid subscription system will take this relationship to a higher level creating distinct niche markets.
Secondly, Gen C users (curation) want to watch quality content. This model, for a reasonable price between $1 and $5 a month, act as a content filter for all videos that are out there on the YouTube platform. Hence, it will bring to viewers the content they want to see. Netflix got that right and at only $7.99 per month they made it possible to watch a large palette of movies.
Thirdly, a paid subscription model will empower content and their producers, Jeff Bach commented on Adage news. He says, “A subscription option gives content creators a way to reach out to their base of loyal followers with a proposal that simply says “hey you pay me a little bit every month to watch the subject you really like, and I will take that money and continue creating that content”.
“Life moves pretty fast. If you don’t stop and look around once in a while you could miss it”, Ferris Bueller
Overall, the way users consume content is changing and that is benefiting YouTube growth. “Life is moving pretty fast” as cleverly said by Ferris Bueller. Hence, YouTube is adapting to their audience and talking about a change in their actual model from a free to a paid one.
This blog post raises the following question: What is the value proposition of YouTube? What is so unique about it that users keep coming back and trust the YouTube’s brand?