Having already become the largest video site on the planet, YouTube is now on a trajectory to dramatically increase its revenue, according to one analyst. Mark Mahaney with Citi puts the site on track to earn a cool $1.3 billion this year, up from about $825 million in 2010.
Mahaney chalks up the increased revenues both to rising numbers of video views on the site, as well as an improved ability by YouTube to monetize users’ views.
Mahaney also believes that YouTube is crucial to parent company Google’s not just for its increasing profitability potential, but also because it helps Google keep a strong presence in the all-important social media realm.
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Says Mahaney:
“Over time, we have become increasingly impressed by the size and growth of Google’s YouTube asset. Further, we view YouTube as giving Google a great platform against two of the biggest trends on the Internet today – the Migration of TV/Video Ad Budgets to the Internet and the Rise of Social Networks, specifically Facebook.
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Put it this way, we believe that Google’s long-term value would be materially less if it didn’t own YouTube.”
Do you think this analyst’s estimates for YouTube are on the money, Insiders? As YouTube continues to grow and evolve, could it eventually become a major competitor to Redbox and Netflix?
(via GigaOM)
