Facebook has slowly taken over many social networks and continues to be at the top when it comes to staying relevant. Many have wondered if Facebook can overtake YouTube.
Due to a huge user base, Facebook has widened the gap in the social media race. Facebook has excellent data collections and a team which engineers the site quickly.
Now, Facebook has taken a turn towards incorporating more videos. Can the Facebook Watch video component overtake YouTube? Let’s analyze more to see what the odds are of this happening.
The new platform for shows on Facebook is Facebook Watch. Videos have been a part of Facebook’s system, however, Watch is the company’s attempt at using video as a standalone.
There is a Discovery page for suggesting new content, groups, and a dedicated feed for the videos of which people can react and comment. Creators and publishers can create and build their audiences. Creators can also interact with their viewers via the comments section.
Facebook has shown its competitive spirit and railroaded other social networks. That, in addition to video now being a priority makes Facebook a great contender to YouTube.
Mark Zuckerberg has come forward to state that video is indeed a priority to the social network. Making video a company priority will certainly push the company forward.
YouTube reports, and boasts, that it has more video views, but the statistics are showing that Facebook is steadily coming up the video lane. Facebook has doubled it’s daily video views within six months in April, 2015. If the video growth continues in this manner, then the views will be at more than 64 billion views per day!
Facebook has already shown that it can handle and use data to its advantage. Making video a priority will be no different. There are more than 2 billion active users on Facebook whereas YouTube has 1.5 billion users.
People having to identify themselves truthfully on Facebook also makes its data more useful. When users have had to upload a government photo identification to prove who they are, this has helped with a more precise database of information. YouTube, on the other hand, has been known to have trolls and not verify its viewers.
Developers at Facebook are encouraged to move quickly without compromising the platform’s security. Speed is a priority, so the developers have ways to do their work in a more scientific manner. Having this type of work environment at Facebook has allowed the platform to build features and products that surpass their competitors. As per the stats, Facebook is the number one used app whereas YouTube is the number two used app.
How Will This Happen?
Facebook Watch could overtake YouTube by: three-pronged approach that will drive advertisers, viewers, and content creators toward the platform and away from YouTube.
Facebook gives incentives to advertisers who use the Facebook platform to directly upload videos. In this direct upload manner, these videos get ten times more shares than if they were directly uploaded on YouTube.
Additionally, the video platform will have the ability to be integrated in to Facebook’s ad dashboard. Facebook and Instagram already share the same dashboard and has been successful.
In order to run more ads there must be more content. Facebook has started paying for original content. Facebook either buys the content or pays to offset production costs.
Additionally, revenue is shared at fifty five percent to content creators. YouTube has the same program with its Partner Program. This could be great for Facebook as YouTube creators see a decline in their YouTube ad revenue.
The audience must be present and Facebook has already perfected how to keep viewers coming back to the platform. Viewers in the United States spend about seventeen minutes per day on YouTube and about fifty minutes per day on Facebook, not including WhatsApp. Facebook also has more users.
Understanding the pool of their users allows Facebook to be the king of understanding the data. In understanding what the viewers want to see, then Facebook can place this in front of its viewers more readily. Relevant content equals an increase in time spent watching the content.
Facebook is King?
Time will tell as to how much more Facebook will put in to this race. Facebook does have a history of devouring its competitors and doing it at a high speed. Competitors hardly gain a chance to compete due to how quickly Facebook reacts. With WhatsApp for instant communication, Oculus for virtual reality, Instagram for images, and now Watch for video, Facebook is covering all mediums to stay relevant.
YouTube may not disappear, but will be in the shadows of Facebook Watch.