Unless you have been living under a rock, you know about Youtube. It has become a social phenomena, providing anyone with the ability to hold a camera an opportunity of fame. The story goes that back in 2005 three guys; Chad Hurley, Steve Chen, and Jawed Karim came up with the idea for Youtube. The marketing line is that the genesis for Youtube was a dinner party video that the three wanted to easily share. When they couldn’t…….. behold Youtube. Nice marketing line, just not necessarily the whole truth.
It all started that simply; with a short video of a trip to the Zoo, this is Jawed one of the founders. The video was uploaded on April 23rd 2005 at 8:27 pm. There was also venture-funded technology start-up money which helped things along, primarily from a $11.5 million investment by Sequoia Capital. The growth was immediate and amazing. Within a year the site was receiving 100 million video views per day with 65,000 video uploads per day.
Google steps in
Always quick to spot an opportunity Google purchased Youtube in October 2006. The sale was finalized in November 2006 for $1.65 billion – the amount of money is really quite incredible. Coming more up to date, the viewing figures are still growing. In May 2011 YouTube reported in its company blog that the site was receiving more than three billion views per day. Quite staggering when you think about it.
Local Business on Youtube
Without doubt, there is opportunity for local businesses to use Youtube to their advantage. It is now recognized as the second largest search engine and the third most visited site online after Google and Facebook . By its nature it is relatively simple to use and even the most technologically challenged should be able to make headway. The real challenge is to develop videos that will actually get views. In April 2011, James Zern, a YouTube software engineer, stated that 30 percent of videos accounted for 99 percent of views on the site. What is your video idea? If you are stuck for ideas or just want to concentrate on running your business we can help with your business Social Media strategy.