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YouTube, a Job Creator

TMCnet Feature

February 06, 2014

YouTube, a Job Creator

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By Miguel Leiva-Gomez
TMCnet Contributor

When the blogosphere came to a peak, many bloggers have been trying to make a living out of their posts, putting advertisements and sponsored stories on their sites in exchange for money. It wasn't long until the same prospect became possible through video, particularly via YouTube (News - Alert). For many, making a living out of uploading videos of cats was unfathomable. Today, it is a nonchalant reality.


Olga Kay is one of the entertainers who make a living from this phenomenon, and she already owns an entire network, known as Moosh World. Her livelihood involves sitting in front of a screen and offering commentary on video games, like the latest Grand Theft Auto 5. She has almost 700 thousand subscribers, and is among one of the many figures on YouTube that have gained a significant amount of success on the platform.

YouTube has revolutionized the broadcasting industry by giving power back to individual entertainers, as opposed to keeping it in the hands of major broadcasting networks. Right now, although it may not be clear, YouTube is in a way competing indirectly with the likes of Fox, MSNBC, ABC, and CBS. Some younger people are dropping the TV entirely in favor of YouTube's vast content, while others have reduced the amount of time they spend on TV by spending time instead watching their favorite YouTube channels.

Of course, every business model has its problems. Because of the vast amount of content offered on YouTube, there's actually a shortage in the diversity of advertising available. Perhaps as an incentive to attract a larger quantity of advertisers, YouTube has dropped its pre-roll ad rate from $9.35 per 1000 views in 2012 to the present rate of $7.60 per 1000 views. On big TV broadcasters, online ads like these cost around $20 per 1000 views.

This may seem glamorous for someone getting one million views per month, but some providers aren't happy. Mr. Calacanis, a person who stopped trying the YouTube approach, said that it costs thousands of dollars to create an advertiser-friendly video on YouTube, which pretty much offsets any advertising revenue made.

Representatives from YouTube say that the cost-benefit analysis is flawed, since YouTubers (creators) can take their content and develop a worldwide subscriber base that eventually will lead them to other income sources.

Still, as YouTube and content producers struggle to find a middle ground, it's still amazing to see the entire broadcasting scene changing right before our eyes!




Edited by Cassandra Tucker

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