YouTube is making a number of significant changes to reinvigorate its platform and keep users and advertisers engaged, as it now faces steep competition from the likes of Facebook, Instagram and Twitter in the video domain.
Can the third-most-visited site on the planet really be feeling its competitors breathing down its neck" The answer is a resounding yes. To find out why, all one has to do is follow the money trail.
Videos of the future are social
Why is social turning into the platform of choice for video ads" Why are the social networks capitalizing on video as the preferred medium of communication by making their platforms video-first"
For one, social media is far more accessible for small and midsized businesses. Social platforms are creating opportunities for SMBs to participate in what was once a domain monopolized by moneyed conglomerates. Unlike prohibitively expensive ad networks, which have been reserved for big-name brands, any business or marketer can create an account and post video on social media. Social platforms recognize the huge opportunities SMBs offer, and they have added tools that enable them to self-promote, such as tracking audience metrics, direct messaging with interested users and campaign promotion.
At the same time, the YouTubes of the world are falling behind because they lack the social component that appeals to users and brands.
In September, Facebook chief operating officer Sheryl Sandberg announced that there are 4 mil...