YouTube, which was originally established in 2005 as a video-based dating platform, has now grown exponentially into a billion-dollar platform that is able to compete with many giants in multiple industries, such as social media, online archives and especially streaming sites.
Streaming sites have always been a convenient way to watch films from home and ever since the pandemic, streaming sites have exploded in success. However, due to this, YouTube and streaming sites such as Netflix and Hulu have become close competitors on the market and recent evidence shows that YouTube has taken quite the lead.
According to Stephanie Prange, a study was conducted by Looper Insights and they found that “Two thirds (66%) of consumers said they often or sometimes discover TV or film content on YouTube, 61% of consumers said they include YouTube as part of their regular streaming routines and 34% said it’s a main source for TV or film content. Meanwhile, 84% of executives said they believe YouTube is a viable platform for launching long-form content.”
With YouTube offering a large variety of films on its platform, along with the ever expanding pool of content being pumped out by its content creators, it’s no surprise that YouTube is taking quite the lead, especially when you consider how most, if not all streaming sites these days require a pricey subscription to even access their content, while YouTube is completely free to access, with a much wider pool of content besides films and shows. The possibility of YouTube maintaining its success over its streaming competitors remains to be seen, but if this continues, YouTube may just become the dominator of the streaming market.
