Hurley gave the keynote for the digital portion of Mipcom in Cannes, France, today, and compared YouTube to CBS in 1941: that is, fighting for advertiser acceptance and content owners’ fear that it would mean the end of big media which, at the time, meant radio.
Some important points that Hurley delivered
. “Companies like CBS, the BBC, HBO, Sony BMG, North One and AFP just to name a few, have already joined us.”
. “If you embrace this opportunity, you will evolve your business model and find new channels and opportunities to deepen engagement, discover new viewers and find new, substantial revenue opportunities.”
. “Even if YouTube didn’t exist, other platforms would surely be driving this change.”
. “Around 10 billion videos are viewed monthly online in the U.S. alone. On YouTube 13 hours of content are uploaded every minute.”
. “The online video advertising market is set to be worth over a billion dollars by 2010, will reach over $3 billion by 2012, and over $5 billion by 2013.”
. CBS has had 250 million views of its YouTube channel, and is selling its own ad inventory on the site.
Here’s a wild comparison: “Again, 13 hours of video are uploaded to YouTube every minute. That’s the equivalent of Hollywood releasing more than 57,000 full-length movies every week.”