The CEO of Google Larry page has stated YouTube is still underperforming but is growing into a good revenue source for the tech giant. This comes at the same time as Google post poor 4Q financial results.
Whilst YouTube has underperformed Larry Page is still excited about the Video upload site becoming a good added source of revenue through online video marketing.
In a statement released yesterday Page said.
“The amount of success we’re having in advertising there is very significant. But it’s not significant compared to the overall video advertising space. It’s a tiny percentage of that. We have a huge amount to grow. But I don’t think the advertisers are thinking about it as being a significant percentage of their other spend on video,”.
This news is no shock as YouTube is a long way away from being a premium content provider, however with over 100 premium channels now signed up YouTube is hopefully on the way to achieving the success it deserves.
While Google does not break down its divisional revenue it did say that Video advertising is now worth $5billion a year. With spend on its DoubleClick display network up 130% YOY.
With Video marketing becoming a massive source of advertisement revenue in the UK, websites will need to get into this form of online marketing quick before it becomes saturated.
For more information about marketing your Videos through YouTube contact our team via the form on the contact page.