How YouTube Ate IV

AN ORAL HISTORY OF THE VIDEO PLATFORM THAT CHANGED EVERYTHING

- HARRY MCCRACKEN

IN YOUTUBE'S EARLY DAYS, THE ODDS SEEMED GOOD THAT THE PLATFORM would be destroyed—not by a competitor, but by its own popularity.

How could any young video startup ever cover the cost of streaming so much content across the internet? Or avoid the fate of Napster, another media-sharing startup of the era that was sued out of business for rampant copyright infringement? Even being acquired by Google in 2006 posed a risk: YouTube could have been mismanaged into irrelevance, as often happens after tech giants acquire shiny new toys.

But over its first 20 years, YouTube didn't just survive—it revolutionized media, redefining what TV could be. By letting anyone upload video for free, it empowered a new generation of creators to cater to every imaginable audience—and attract fan bases in the millions. It taught marketers to appreciate the value of reaching these viewers, and it used technology to give rights holders control over their content. The platform conquered PCs and then smartphones and was eventually available on nearly every new TV set.

Today, with 2 billion logged-in users a month, YouTube is watched more than any traditional TV outlet. According to Nielsen, the company has grown its total viewers by nearly 50% since December 2023, bounding past Paramount, NBCUniversal, and Disney to take the top spot among media companies. It's now the U.S.'s most-watched video provider, not just among streamers but cable and broadcast TV channels, too. Its 2024 ad revenue was $36.15 billion, a figure that doesn't include subscription revenue from its YouTube Premium and YouTube TV businesses.