- By Anjali
- October 12, 2023
Decoding YouTube's 2023 Strategic Direction: Insights from Three Key Events
YouTube is more than just a platform. It’s an exciting place, a magnet for viewers that other platforms can’t hope to reach. However, in today’s competition, competing ad-supported streaming platforms are competing for your attention by offering free content and enhanced features. That’s why Youtube is doing everything in its power to stay ahead of the competition. In this post, we’ll break down YouTube’s 2023 strategy and highlight the key lessons from the year’s most significant events.
YouTube NewFront 2023
Let’s begin with the first topic we’re going to cover: YouTube NewFront. This was, without a doubt, the most important event of 2023. On May 1st, it took place at Pier 57 and was attended by businesses, agencies, and media buyers who wanted to learn more about YouTube’s new strategy. YouTube wanted to communicate three main messages in four different presentations that would stick with the audience until TikTok’s presentation on the 4th of May.
Number one: “YouTube Shorts had around 50B daily views”.
As soon as we walked into Pier 57 we heard this loud and clear.
Number two: “Gen Z’s love affair with YouTube”
Now that video is available 24/7, Gen Z has grown up with YouTube’s services. A whopping 74% of Gen Z viewers said they discovered original content on YouTube.
To back this up, the event featured one of the most important issues that Gen Z viewers care about most, “The issues that most matter to Gen Z.”
Gen Z felt empowered to choose their entertainment. They valued different YouTube creators’ viewpoints. The event didn’t shy away from drawing in the audience. Adding a splash of color was the game show “Creator Games – The Gen Z edition”, hosted by Asia Jackson and featuring guests such as Larray, and Darcei Giles.
In the third and final message, Kristen O’Hara, Vice President of Agency and Brand Solutions at Google, delivered the third and final important message. She shared two cutting-edge strategies for increasing YouTube Shorts awareness:
The YouTube Select Run Shorts roster was launched.
When we look at the conditions and YouTube’s strategic approach, we can’t help but think about the words of the legendary Jim Barksdale (former CEO of Netscape during the browser war between Microsoft and Google) who once said, “In a bear fight between an alligator and a bear, the terrain will determine who wins.” We think about the strategic move to focus attention on YouTube Shorts and talk to Gen Z audiences, even though TikTok wasn’t explicitly highlighted.
Also Read: Google’s Search Gets Smarter: Sundar Pichai’s AI Plans
YouTube Brandcast 2023
YouTube Brandcast 2023 was the next major event on YouTube’s calendar. This year’s event was held on May 17th, 2023 in New York City’s David Geffen Hall at Lincoln Center. It marked the first time that YouTube’s Chief Operating Officer (CBO), Chief Technology Officer (CTO), and Google CEO (GOOG) Sundar Pichai (CEO) sat down with YouTube’s R.E. and R.E.D. to listen, share stories, and talk about user success. At the center of the event, CTV (Connected TV), which was mentioned briefly at last year’s NewFront, took center stage.
Agreeing to a Nielsen think about conducted within the Joined Together States in December 2022, YouTube outperformed Netflix in terms of seeing time. YouTube has come to more than 150 million individuals all over the nation through associated TVs, and more than 52% of clients 18 and more seasoned observe YouTube gushing. As of December 2022, YouTube points to reach more than 30 percent of Americans 18 and more seasoned who might not something else be able to get to elective spilling administrations by October 2022. In December 2022, more than 70 percent of YouTube Select ads were seen within the Joined Together States. tv screens. Mary Ellen Coe talked about YouTube’s relationship with NFL Sunday Ticket amid the Brandcast. Coe said: “We are exceptionally energized around this association since it’ll permit us to bring uncommon substance to individuals on YouTube and YouTube TV. We will tune in to the players amid the game.”
More appears are within the pipeline, counting “Game Day All Access,” which permits fans to tune in to players’ discussions amid a game.
A new NFL Creator of the Week series will be launched on the NFL’s YouTube account after the football season kicks off. This is great news for advertisers because it will connect them with football fans watching football content across YouTube’s multiple channels.
At the event, NFL Commissioner Roger Goodell was joined by popular YouTuber Donald De la Haye Jr. who goes by “Destroying”. They discussed the buzz surrounding football culture on YouTube, and how advertisers can get involved.
During the event, Goodell noted that there was an increase of 27% in NFL content viewing on YouTube compared to last year, with 1.9 billion total views.
YouTube is expected to outpace its competitors in second-quarter CTV ad spending in the U.S. this year. According to Insider Intelligence, YouTube will earn about $2.89B from CTV advertising this year, second only to Hulu.
TikTok and Instagram are therefore no longer YouTube’s competitors in this market, and Netflix and Hulu are right. “YouTube’s high TV audience and content differentiate it from other streaming providers,” says Insider Intelligence’s Daniel Konstantinovich. “This highlights YouTube’s rise as a major player within the connected TV ecosystem, which may be a noteworthy improvement in YouTube strategy in 2023.”
VidCon Anaheim 2023
Amjad Hanif, YouTube’s VP of Thing Organization, had a talk almost the company’s fundamental heading with well-known makers counting Brilliant Scholl and SSSniperWolf amid VidCon Anaheim 2023, which took put from June 21 to 24, 2023. Concurring to Hanif, we given both title help and live stream bolster at VidCon. We’ve paid producers $50 billion in three a long time, giving us a competitive edge over our rivals and producing $35 billion for the US economy in business. The redirection was changed by brief YouTube adverts. With the switch to a Shorts Back appear, makers can presently win up to $3 [for each 1,000]. The man clarified that Shorts sees. This puts us ahead of our competitors in terms of creative energy drawing as well.
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