Media analysts have predicted as one unstoppable trend the increasing preference of computer users for video content over the written and published form. YouTube was the first to catch on to this idea and, since its establishment and eventual purchase by search engine behemoth Google, has made its video platform the most-watched, with no worthy competitor in sight.
According to Fortune, 1 billion hours of YouTube videos are clicked on and viewed by audiences all over the world every single day. Facebook is the closest to becoming its nearest challenger but still lags a far behind with its new videos, courtesy of Facebook Live, getting a tenth of the regular viewership of YouTube.
Now Facebook is mustering its considerable resources to become the number one video content platform. Facebook Live, which had both celebrities and the average person on the street, recording themselves on real-time and spontaneously, was just the start.
Facebook president Mark Zuckerberg is now lining up deals with various content producers, from new agencies to multimedia development houses, to provide them with quality videos that users will want to click and watch until the end of its run. The social media network is willing to pay $10,000 to $15,000 for videos that are 10-15 minutes long. Meanwhile, long-form videos that run for as long as 30 minutes can be bought for as high as $200,000.
Another unlikely challenger for the video platform si Snapchat, which has been signing up famous faces like TV host James Corden along with respected studios like NBC Universal to produce them popular content.
Neither is YouTube standing by idly while its competitors are making a move on its territory. The Google subsidiary will be launching about 40 original-content channels that will showcase Hollywood powerhouses like Ellen DeGeneres and Kevin Hart.
The unemployment rate in DR Congo could skyrocket
The difficulties and bankruptcies generated by COVID-19 have had a devastating economic and social impact in Africa.On the private sector...
Alantra increased its income in the first quarter of the year
Alantra's net profit fell 13.5% during the first months of the year to $5 million (€4.5 million’). However, the company's...
Three Valencian startups selected for EIT Health’s Headstart program
EIT Health, selected 89 initiatives throughout Europe, to take part in the Headstart program. The companies will be able to...
The Corona crisis could bring momentum to the Swiss crowdfunding market
In 2019, almost $624.8 million (CHF 600 million) was brokered in Switzerland via crowdfunding platforms. That means the market continued...
Containment boosts electronic invoicing in Belgium
Forced to work at a distance, many companies have taken advantage of this period to make the leap to electronic...
Business7 days ago
The importance of empathy-based marketing
Crowdfunding3 days ago
The Municipality of Milan launches a call to co-finance civic crowdfunding campaigns
Crypto6 days ago
Is the Bitcoin course in a phase of consolidation?
Featured5 days ago
The economic woes on the stock markets could be long-lasting