What can do in a minute? Sixty seconds is not a long time to do anything, even in these digital days.
I can't even make a cup of tea in a minute. But incredible new statistics revealed during Mary Meeker’s Web 2.0 Summit talk showed that 35 hours of video are uploaded to YouTube every minute.
That's 2,100 hours every 60 minutes – over 50,000 a day. Just to put that in context, if three of the major US networks were broadcasting 24/7 for the next 60 years, they would not have broadcast as much content as is uploaded to YouTube in a month.
What makes these figures even more incredible is how much it is accelerating. In fact, video uploads have increased by 50 per cent since March.
So why has there been such a huge increase and what does it mean? Well, according to YouTube, the average length of video has increased from 10 minutes to 15 minutes.
The recent advances in mobile phones technology has also made it a lot easier to upload videos, as has the increased use of the YouTube API by third parties.
A YouTube spokeswoman said:
“More companies are integrating our APIs to support upload from outside the site. Activision’s Call of Duty: Black Ops is one example where you can record and share video footage from within the game.”
It also means even more competition to get your videos noticed on YouTube.
Morgan Stanley analyst Meeker also talked about some other fascinating trends and it is really worth taking a look.
Some other highlights include:
- Smartphone sales will outstrip PC sales in 2012;
- Facebook is one of the most under-monetized assets on the web;
- In the US, online accounts for 28 per cent of media consumption - but still only 13 per cent of ad spend;
- 37 per cent of of Internet traffic is video streaming during traditional 'TV hours'. Netflix is the biggest contributor to this, followed by YouTube.