YouTube, a consumer media company for people to watch and share original videos worldwide, serves over 70 million videos daily on their website- videos that are created and shared by everyday people. YouTube also draws 34 million unique visitors a month, ranking it in the top 15 most trafficked websites.
Until Steve Jobs and Apple started the iPod and then iTunes revolution, which morphed into video downloads of hit TV shows onto iPods or desktops to allow people to view the shows on demand. However, even the brilliantly innovative Jobs missed what was to become a people video revolution. Where as Jobs focused on creaing partnerships with TV broadcast companies to monetize the market of recorded broadcast videos and grow the business at Apple. YouTube founders Chad Hurley, Steve Chen and Jawed Karim were focused on the exact opposite- free video service created by the people for the people.
The founders almost went broke broke trying this innovative experiment out after the launch when the number of people uploading videos to share, and the number of people downloading videos to watch grew exponentially. However, the growth of Internet as a network and the fall in price of broadband, bandwith and storage kept their vision going ( and a few million dollar investment eventually by Sequia capital) The YouTube revolution was just beginning...
YouTube, founded in February 2005, created many timely innovations that made it successful in such a short time paving its way to an acquisition by Google for $1.65 billion dollars. (Creativity&Innovation 2011:122-123)
Just to show how many people do watch videos, this clip of a boy having his finger bitten by his brother has received 410,240,778 views and is rated by YouTube.com as the most viewed clip of all time. (www.youtube.com, 18/01/2012)
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