YouTube CEO Neal Mohan has outlined his vision for the platform’s future in 2024, focusing on expanding YouTube’s presence across all user devices.
Mohan’s plan involves turning YouTube into a platform that transcends mobile phones, taking over living rooms and potentially every screen users interact with. This strategy hinges on the success of YouTube Shorts, short videos designed to compete with TikTok. According to Mohan, short videos are a key driver for YouTube’s growth.
The platform’s subscription services, including YouTube Premium and YouTube TV, have been significant revenue drivers, contributing to Alphabet’s $15 billion in subscription revenue last year. Analysts estimate that if YouTube were spun off from Google, it could be valued at a staggering $423 billion.
Despite some challenges, such as declining ad revenue and rising competition, YouTube is taking action against ad blockers to boost revenue. The platform is also focusing on its short videos and subscription services to ensure continued growth and revenue.
Read more: Bloomberg