Revenue generated by YouTube are larger and growing at a faster rate than Netflix according to the CBO of YouTube

The Royal Television Society Cambridge Convention shortly known as RTS being held on 15th and 16th September had Robert Kyncl, the chief business officer (CBO) of YouTube, as well on their list. During this Convention, Robert talked about how YouTube is expanding at an exceptional rate in comparison to Netflix on the basis of revenues. According to the Chief business officer, YouTube from being neck to neck with Netflix is now above this level.

The HollywoodReporter shared it’s statistical analysis showing $7.3 billion being generated by Netflix in comparison to $7 billion received by the Google-owned video sharing hub, YouTube, in the second quarter of the ongoing year, for its ad revenue. This analysis was done on the basis of ad revenue for YouTube and excluded the revenue generated from YouTube Premium and YouTube Music. From the same quarter of the year 2020, YouTube managed to boost up its revenue to up to 83 percent while Netflix only went up by 19%.

Robert went on and even talked about YouTube being the largest platform to host content creators. He said that in terms of payouts, the video sharing hub is above the 2 million bar for the number of creators and have been paying almost $30 billion to these creators for the last 3 consecutive years. Lastly Kyncl added that in order to achieve something some extra steps are meant to be taken, otherwise it is just an easy way out by not changing anything at all. He promoted a diverse environment and urged companies to bring it under consideration while hiring process.

Ben McOwen Wilson, managing director YouTube for Ireland and United Kingdom, was also present and shared his views that no-one was focusing on the people who represents their country, not even YouTube itself and hence the focus should be shifted towards the people behind the camera and in front of it. Ben expressed that YouTube can outrank a TV channel in terms of audience and for this equal representation should be ensured other wise they can lose this chance. Ben believes that diversity should not be showcased only from the top but instead it should be a part of the whole structure.

Photo: Egadolfo / Gettyimages

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