Google says that the fight between television and YouTube is over, and they say that the internet video streaming service has won indefinitely. During a recent presentation to advertisers, Google Chairman Eric Schmidt said that the outcome of whether or not YouTube will overtake television has "already happened."
Schmidt said that "the future is now" for YouTube, and the company has been set on reinventing television by getting dozens of major media brands and celebrities to launch their own channels for more exclusive content on the streaming video website. However, Schmidt says that YouTube isn't a replacement for TV, but simply "a new thing...to program, to curate and build new platforms."
Robert Kyncl, YouTube's global head of content, says that while television is one-way communication, YouTube goes both ways, and he says that the streaming service is all about engagement rather than simply trying to reach as many people as you can like with television. YouTube likes to hone in on their demographics and go from there.
Google just recently claimed that more 18- to 34-year-olds watch YouTube than any cable network. DreamWorks Animation's even purchased Awesomeness TV for $33 million, which is a teen-focused YouTube Channel. Cable television has been going downhill for a while now, and streaming videos are taking its place, with many people ditching their cable and hooking up their devices to their TVs to watch streaming content.