Despite being one of the lowest paying streaming platforms, artists worldwide can see their careers change overnight through YouTube.
The study by Pex showcases categories on YouTube that are dominant drivers of growth and engagement for the platform. The study examined the performance of publicly available videos on YouTube for a period ending December 31, 2018. The results reveal that YouTube has over 5.2 billion videos, 1 billion hours of content, and 29 trillion views.
To put that figure into perspective, it would take 41,666,667 days of nonstop watching to view everything that was available on YouTube when the study was completed. Even more content is available now.
According to the data Pex shared, YouTube saw around 621 hours of content uploaded every minute in 2018, or roughly 10 hours of content every second. That’s even higher than the 500-hour estimate shared by CEO Susan Wojcicki earlier this year. Unsurprisingly, the length of these videos has increased each year since the restriction lifted.
The reason for the change of the average video length is likely the result of YouTube’s advertising deal with creators. YouTube shares a portion of the revenue for ads shown during the video with that clip’s creator, but the service limits how many ads can be displayed based on the length of the accompanying video. Longer videos, therefore, equal more ads, which means more money for creators (even if their viewers are frustrated).
Gaming is the fastest-growing category on YouTube thanks to the popularity of services such as Twitch, but music still has the lead.
The average length of a music video on YouTube is 6.8 minutes, with an average of 2,411 views per minute and 16,397 views per video. That’s compared to the gaming category’s average of 24.7 minutes per video with only 121 views per minute and 2,987 views per video.
Music is the category with the shortest videos, but it generates the most views per average video. The music category received 20% of all total views on YouTube last year — but makes up only 5% of YouTube’s content. Music and Entertainment are the two YouTube categories that deliver the highest returns, but YouTube doesn’t want you to know that because both entertainment and music videos often require the company to pay royalties. YouTube does not want to share revenue anymore than it needs to, which is likely why the streaming giant has been investing heavily into original content.
The less YouTube needs major labels and movie studios, the better, at least for YouTube.
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