How YouTube Plans to Become ‘The New Hollywood’
By Movieguide® Contributor
As the streaming wars continue, YouTube is claiming its place at the top of the heap, with plans to make its platform “the new Hollywood.”
“When people turn on the TV, they’re turning on YouTube,” the website’s CEO Neal Mohan explained. “Television really is YouTube.”
Mohan is right; according to Fast Company, viewers stream over 1 billion hours of YouTube content on their TVs every day. They’re even beating out big-name streamers. A December report from Nielsen found that, of the 43.3% of total watch time on TVs spent streaming, 11.1% of that time was spent on YouTube.
READ MORE: THESE STATISTICS REVEAL JUST HOW POPULAR YOUTUBE IS
YouTube is taking its new role as a streaming service seriously, repackaging content to look more like traditional TV. For example, content creators can now upload their videos into “episodes” and “seasons,” just like a regular TV show.
Creators also have access to AI tools that can help them dub their content into other languages, as well as embed scannable QR codes to encourage interactivity.
These advances in YouTube’s tech are paying off in a major way, for both the streamer and its creators.
In the past year, YouTube brought in $50 billion in advertising and subscription revenue, while its content creators are making millions.
Forbes released a list of the highest-earning content creators in 2024, revealing that video-makers like MrBeast and Rhett & Link have earned $85 and $36 million, respectively.
Smaller creators are also benefiting from YouTube’s innovations. A new “hype” feature (currently available in Brazil, Turkey and Taiwan) lets viewers push videos from creators with fewer than 500,000 subscribers, giving them greater visibility.
“Creators really are the new Hollywood,” Mohan said.
READ MORE: YOUTUBE MARKS MASSIVE SHIFT IN WHERE USERS WATCH ITS CONTENT
YouTubers are just as appreciative of the site. At a recent panel at SXSW, YouTubers praised the platform for the creative freedom it gives them.
“I couldn’t have created HOT ONES on traditional TV,” Sean Evans, host of the uber-popular talk show that sees guests eat spicy wings while answering questions, shared.
He added, “YouTube lets me take risks. No exec would have greenlit ‘celebs eating wings until they cry,’ but here, I had the space to prove it worked.”
Josh Scherer, executive director of culinary content at Mythical Entertainment and star of MYTHICAL KITCHEN, pointed out the benefits of YouTube’s flexibility for creators.
“We can be chefs, comedians, and storytellers all at once,” he said. “YouTube gives us the format flexibility to do things no restaurant or cooking show could pull off…We follow where our own interests are and where our audience’s interests are.”
READ MORE: WILL THESE CHANGES KEEP YOUTUBE ON TOP OF STREAMING?
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