Today In History

February 14 in History

2005 – YouTube is launched by a group of college students, eventually becoming the largest video sharing website in the world and a main source for viral videos

By Editor_1

The online video-sharing and social media platform owned by Google and accessible worldwide was launched on this day in 2005 by Steve Chen, Chad Hurley, and Jawed Karim, three former employees of PayPal. Headquartered in San Bruno, California, United States, it is the second most visited website in the world, after Google Search. YouTube has more than 2.5 billion monthly users, who collectively watch more than one billion hours of videos every day. As of May 2019, videos were being uploaded to the platform at a rate of more than 500 hours of content per minute, and as of 2023, there were approximately 14 billion videos in total.

In October 2006, YouTube was bought by Google for $1.65 billion (equivalent to $2.4 billion in 2022). Google’s ownership of YouTube expanded the site’s business model, expanding from generating revenue from advertisements alone to offering paid content such as movies and exclusive content produced by YouTube. It also offers YouTube Premium, a paid subscription option for watching content without ads. YouTube also approved creators to participate in Google’s AdSense program, which seeks to generate more revenue for both parties. In 2021, YouTube’s annual advertising revenue increased to $28.8 billion, an increase in revenue of $9 billion from the previous year. YouTube reported revenue of $29.2 billion in 2022.

Since its purchase by Google, YouTube has expanded beyond the core website into mobile apps, network television, and the ability to link with other platforms. Video categories on YouTube include music videos, video clips, news, short films, feature films, songs, documentaries, movie trailers, teasers, live streams, vlogs, and more. Most content is generated by individuals, including collaborations between YouTubers and corporate sponsors. Established media corporations such as Disney, Paramount, NBCUniversal, and Warner Bros. Discovery have also created and expanded their corporate YouTube channels to advertise to a greater audience.

YouTube has had unprecedented social impact, influencing popular culture, internet trends, and creating multimillionaire celebrities. Despite its growth and success, the platform is sometimes criticized for allegedly facilitating the spread of misinformation, and the sharing of copyrighted content, routinely violating its users’ privacy, enabling censorship, endangering child safety and wellbeing, and for its inconsistent or incorrect implementation of platform guidelines.

-Wikipedia

Editor_1
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