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YouTube offered the public a beta test of the site in May 2005, six months before the official launch in November 2005. The site grew rapidly, and in July 2006 the company announced that more than 65,000 new videos were being uploaded every day, and that the site was receiving 100 million video views per day.[15] According to data published by market research company comScore, YouTube is the dominant provider of online video in the United States, with a market share of around 43 percent and more than 14 billion videos viewed in May 2010.[16] YouTube says that roughly 60 hours of new videos are uploaded to the site every minute, and that around three quarters of the material comes from outside the U.S.[17][18][19] The site has eight hundred million unique users a month.[20] It is estimated that in 2007 YouTube consumed as much bandwidth as the entire Internet in 2000.[21] Alexa ranks YouTube as the third most visited website on the Internet, behind Google and Facebook.[22]The choice of the name www.youtube.com led to problems for a similarly named website, www.utube.com. The owner of the site, Universal Tube & Rollform Equipment, filed a lawsuit against YouTube in November 2006 after being overloaded on a regular basis by people looking for YouTube. Universal Tube has since changed the name of its website to www.utubeonline.com.[23][24] In October 2006, Google Inc. announced that it had acquired YouTube for $1.65 billion in Google stock, and the deal was finalized on November 13, 2006.[25] Google does not provide detailed figures for YouTube's running costs, and YouTube's revenues in 2007 were noted as "not material" in a regulatory filing.[26] In June 2008, a Forbes magazine article projected the 2008 revenue at $200 million, noting progress in advertising sales.[27] Visitors to YouTube spend an average of fifteen minutes a day on the site, in contrast to the four or five hours a day spent by a typical U.S. citizen watching television.[20]
YouTube entered into a marketing and advertising partnership with NBC in June 2006.[28] In November 2008, YouTube reached an agreement with MGM, Lions Gate Entertainment, and CBS, allowing the companies to post full-length films and television episodes on the site, accompanied by advertisements in a section for US viewers called "Shows". The move was intended to create competition with websites such as Hulu, which features material from NBC, Fox, and Disney.[29][30] In November 2009, YouTube launched a version of "Shows" available to UK viewers, offering around 4,000 full-length shows from more than 60 partners.[31] In January 2010, YouTube introduced an online film rentals service,[32] which is currently available only to users in the US, Canada and the UK.[33][34] The service offers over 6,000 films.[35]
YouTube offered the public a beta test of the site in May 2005, six months before the official launch in November 2005. The site grew rapidly, and in July 2006 the company announced that more than 65,000 new videos were being uploaded every day, and that the site was receiving 100 million video views per day.[15] According to data published by market research company comScore, YouTube is the dominant provider of online video in the United States, with a market share of around 43 percent and more than 14 billion videos viewed in May 2010.[16] YouTube says that roughly 60 hours of new videos are uploaded to the site every minute, and that around three quarters of the material comes from outside the U.S.[17][18][19] The site has eight hundred million unique users a month.[20] It is estimated that in 2007 YouTube consumed as much bandwidth as the entire Internet in 2000.[21] Alexa ranks YouTube as the third most visited website on the Internet, behind Google and Facebook.[22]The choice of the name www.youtube.com led to problems for a similarly named website, www.utube.com. The owner of the site, Universal Tube & Rollform Equipment, filed a lawsuit against YouTube in November 2006 after being overloaded on a regular basis by people looking for YouTube. Universal Tube has since changed the name of its website to www.utubeonline.com.[23][24] In October 2006, Google Inc. announced that it had acquired YouTube for $1.65 billion in Google stock, and the deal was finalized on November 13, 2006.[25] Google does not provide detailed figures for YouTube's running costs, and YouTube's revenues in 2007 were noted as "not material" in a regulatory filing.[26] In June 2008, a Forbes magazine article projected the 2008 revenue at $200 million, noting progress in advertising sales.[27] Visitors to YouTube spend an average of fifteen minutes a day on the site, in contrast to the four or five hours a day spent by a typical U.S. citizen watching television.[20]
YouTube entered into a marketing and advertising partnership with NBC in June 2006.[28] In November 2008, YouTube reached an agreement with MGM, Lions Gate Entertainment, and CBS, allowing the companies to post full-length films and television episodes on the site, accompanied by advertisements in a section for US viewers called "Shows". The move was intended to create competition with websites such as Hulu, which features material from NBC, Fox, and Disney.[29][30] In November 2009, YouTube launched a version of "Shows" available to UK viewers, offering around 4,000 full-length shows from more than 60 partners.[31] In January 2010, YouTube introduced an online film rentals service,[32] which is currently available only to users in the US, Canada and the UK.[33][34] The service offers over 6,000 films.[35]
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