With pessimism surrounding Youtube’s performance, Youtube’s owner, Google, set out to prove it’s critics wrong. On the YouTube Biz Blog Google writes “we can debunk the top five myths about YouTube we repeatedly see.”
Myth 1: YouTube is limited to short-form user-generated content.
Google’s rebuttal: “The world premiere of Joy Luck Club director Wayne Wang’s film, “The Princess of Nebraska,” was viewed 165,000+ times during the first 48 hours — the equivalent of landing the 15th spot on Hollywood box office charts.”
Myth 2: YouTube videos are grainy and of poor quality.
Google’s rebuttal: “We already have more HD videos than any other video site.”
Myth 3: Traffic, growth, and uploads are bad for YouTube’s bottom line.
Google’s rebuttal: “With revenue estimates ranging from $120 million to $500 million, and costs on an equally large spectrum, it seems people can pick any number to fit any theory they have about our business. The truth is that all our infrastructure is built from scratch, which means models that use standard industry pricing are too high when it comes to bandwidth and similar costs. We are at a point where growth is definitely good for our bottom line, not bad.”
Myth 4: Advertisers are afraid of YouTube.
Google’s rebuttal: “Over 70% of Ad Age Top 100 marketers ran campaigns on YouTube in 2008. Advertisers just want control, so we’re continuing to develop tools and targeting products that give advertisers more control over where their ads appear on the site.”
Myth 5: YouTube is only monetizing 3-5% of the site.
Google’s rebuttal: “This oft-cited statistic is old and wrong, and continues to raise much speculation. Monetized views have more than tripled in the past year, as we’re adding partner content very quickly and doing a better job of promoting their videos across the site.”
It seems Google had a lot of steam to let out and it sure did that. Has this stopped the critics in their tracks though? I think not.
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