What is YouTube’s “next frontier”? According to CEO Neil Mohan, it’s creating a living room viewing experience and turning subscriptions into a meaningful business.
Mohan published it annual letter On Tuesday morning the YouTube community was provided an update on the video platform’s business, and unveiled “4 big bets for 2024.”
Those bets include the living room, where Mohan said viewers watch 1 billion hours on their TV sets every day, and where YouTube TV — the company’s streaming multichannel video service — now has more than 8 million subscribers.
That’s a huge number, up more than 3 million since 2022, when the company reported it had more than 5 million YouTube TV subscribers. It also means that during a period when legacy cable and satellite companies collectively lost millions of TV subscribers, YouTube TV added millions. YouTube also added NFL Sunday Ticket last season.
YouTube previously announced that YouTube Premium and YouTube Music now have more than 100 million subscribers combined.
“When I started at YouTube, people considered content from major studios and content from creators as completely separate, but today that clear divide is gone,” Mohan writes in his letter. “Viewers want everything in one place, from live sports games to the BBC to Khan Academy and Nikki tutorials. And they’re watching YouTube the same way we used to sit together for traditional TV shows – with friends and family on the biggest screen at home.’
But Mohan also had three other “big bets” and they are firmly focused on two priorities for the company: the creator ecosystem, and generative AI.
Regarding AI, Mohan explained about AI features and tools that…