What kind of sales multiple does this fast-growing video juggernaut deserve? It's tough to think of a direct comparison. Netflix, which trades for over eight times its 2018 revenue consensus, relies on subscription revenue rather than ads. And whereas YouTube largely relies on ad revenue-sharing deals with content partners, Netflix directly pays its content partners for their material.

The 1990s and 2000s saw the growth of cable TV channels targeted at children. With the rise of ubiquitous merchandising deals and niche content, powerful American media companies such as Disney, Turner, and Viacom figured out how to make money off young kids. They created, respectively, the Disney Channel, the Cartoon Network, and, of course, Nickelodeon, which was the most watched cable channel during traditional television’s peak year, 2009–10 (Nielsen’s measurement period starts and ends in September). Since then, however, little kids have watched less and less television; as of last spring, ratings in 2018 were down a full 20 percent from just last year. As analysts like to put it, the industry is in free fall. The cause is obvious: More and more kids are watching videos online.
YouTube ads provided a big percentage of the Segarses’ income during those early days, and worked well with their content. “Our workouts require strategically placed water breaks, which easily lends itself to monetization/ads that aren’t intrusive to the user experience,” says Segars. “People even joke about how relieved they are to see ads and get a quick minute to catch their breath.” Meanwhile, that revenue allowed them to adopt a no-sponsor policy. “It has cut out a lot of monetization opportunities, but our audience is well aware of our stance and appreciates it,” Segars continues. “We think that trust is an important part of building a brand.” As a result, they’ve roped in a loyal audience that’s now willing to pay for a variety of workout programs and meal plans for sale on the Fitness Blender website.
Though the furor around PewDiePie’s repeated antics has subsided after each of these incidents, his courting of alt-right ideas has not. Though he has never openly identified himself as a member or supporter of the alt-right, he has continued to like and promote channels run by alt-right-affiliated users, and earlier this year, he made a video in which he reviewed the right-wing personality and alt-right hero Jordan Peterson’s controversial self-help book. In the review, PewDiePie endorsed the book, called it a “fun” read, and said he would take some of its advice.
Congress held hearings on television’s possible deleterious effects on children (and adults) in 1952, 1954, and 1955. But not much happened, and the government and TV networks generally settled into a cycle that has been described by the media scholar Keisha Hoerrner. “First,” she has written, “the government castigated the industry for its deplorable programming, then the industry took its verbal punishment and promised to do better, followed by the government staying out of the industry’s business.”

At the time of uploading a video, YouTube users are shown a message asking them not to violate copyright laws.[313] Despite this advice, there are still many unauthorized clips of copyrighted material on YouTube. YouTube does not view videos before they are posted online, and it is left to copyright holders to issue a DMCA takedown notice pursuant to the terms of the Online Copyright Infringement Liability Limitation Act. Any successful complaint about copyright infringement results in a YouTube copyright strike. Three successful complaints for copyright infringement against a user account will result in the account and all of its uploaded videos being deleted.[314][315] Organizations including Viacom, Mediaset, and the English Premier League have filed lawsuits against YouTube, claiming that it has done too little to prevent the uploading of copyrighted material.[316][317][318] Viacom, demanding $1 billion in damages, said that it had found more than 150,000 unauthorized clips of its material on YouTube that had been viewed "an astounding 1.5 billion times". YouTube responded by stating that it "goes far beyond its legal obligations in assisting content owners to protect their works".[319]

YouTube offers users the ability to view its videos on web pages outside their website. Each YouTube video is accompanied by a piece of HTML that can be used to embed it on any page on the Web.[123] This functionality is often used to embed YouTube videos in social networking pages and blogs. Users wishing to post a video discussing, inspired by or related to another user's video are able to make a "video response". On August 27, 2013, YouTube announced that it would remove video responses for being an underused feature.[124] Embedding, rating, commenting and response posting can be disabled by the video owner.[125]
The SEC late last year prodded the company to explain why it doesn’t share YouTube data, according to regulatory filings in February. Accounting rules require companies to disclose revenue for operating segments that account for 10% of a company’s total revenue, profit or combined assets. YouTube’s numbers are included in Alphabet’s advertising figure.

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The 1990s and 2000s saw the growth of cable TV channels targeted at children. With the rise of ubiquitous merchandising deals and niche content, powerful American media companies such as Disney, Turner, and Viacom figured out how to make money off young kids. They created, respectively, the Disney Channel, the Cartoon Network, and, of course, Nickelodeon, which was the most watched cable channel during traditional television’s peak year, 2009–10 (Nielsen’s measurement period starts and ends in September). Since then, however, little kids have watched less and less television; as of last spring, ratings in 2018 were down a full 20 percent from just last year. As analysts like to put it, the industry is in free fall. The cause is obvious: More and more kids are watching videos online.
YouTube celebrated its tenth birthday the other day, almost nine of those years being as a property of Google (GOOG). It would seem like a raging success: Some stars of the medium make significant amounts of money, companies use it as a powerful marketing tool, and Google harvests enormous amounts of user data that become marketing gold. YouTube is the top video site in the world, with more than a billion users and $4 billion in annual revenue.

But whereas Disney has long mined cultures around the world for legends and myths—dropping them into consumerist, family-friendly American formats—ChuChu’s videos are a different kind of hybrid: The company ingests Anglo-American nursery rhymes and holidays, and produces new versions with subcontinental flair. The characters’ most prominent animal friend is a unicorn-elephant. Nursery rhymes become music videos, complete with Indian dances and iconography. Kids of all skin tones and hair types speak with an Indian accent.
Congress held hearings on television’s possible deleterious effects on children (and adults) in 1952, 1954, and 1955. But not much happened, and the government and TV networks generally settled into a cycle that has been described by the media scholar Keisha Hoerrner. “First,” she has written, “the government castigated the industry for its deplorable programming, then the industry took its verbal punishment and promised to do better, followed by the government staying out of the industry’s business.”

YouTube allows users to upload, view, rate, share, add to favorites, report, comment on videos, and subscribe to other users. It offers a wide variety of user-generated and corporate media videos. Available content includes video clips, TV show clips, music videos, short and documentary films, audio recordings, movie trailers, live streams, and other content such as video blogging, short original videos, and educational videos. Most of the content on YouTube is uploaded by individuals, but media corporations including CBS, the BBC, Vevo, and Hulu offer some of their material via YouTube as part of the YouTube partnership program. Unregistered users can only watch videos on the site, while registered users are permitted to upload an unlimited number of videos and add comments to videos. Videos deemed potentially inappropriate are available only to registered users affirming themselves to be at least 18 years old.

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