Many social media companies are currently in the midst of an uphill battle in the short video segment, and Google is poised to show some decent progress in that direction. During the last financial report, the company reported that the number of views on YouTube Shorts reached 50 billion per day – in the first quarter of 2022 the company spoke of 30 billion.
The momentum is impressive, of course, but YouTube Shorts still lags behind Instagram* and Facebook*: last October, owned by them Meta* reported 140 billion views per day across both platforms. Like other services, YouTube also promotes the short format – in November its support appeared on TVs. TikTok has also tried to make it to the big screen with apps for Amazon Fire TV, Android TV, and some LG and Samsung models.
Last year, YouTube reported that 1.5 billion registered users watched short videos. TikTok exceeded 1 billion monthly users in 2021. Instagram* more than 2 billion users, but the platform administration does not say how many of them watch Reels short videos.
The growing popularity of the short format is good news for Google, but the company needs to refine the mechanisms for monetizing those 50 billion views. According to 2022 fourth quarter results, YouTube’s revenue was $7.96 billion, down 8% from the same period last year when it was $8.63 billion. In November 2022, the company announced that the number of YouTube Premium subscribers worldwide exceeded 80 million
Last November, YouTube began testing the ability to make purchases and implement affiliate marketing in the short video space, and on February 1, a new shorts monetization program was launched. During the quarterly report, Philipp Schindler, director of business development at Google, noted that the company “Satisfied with consistent progress on early monetization”.
* It is included in the list of public associations and religious organizations for which the court made a final decision, activities on the grounds of Federal Law No. 114-FZ of July 25, 2002 “On Combating Extremist Activity”.