Monday, July 10, 2023

YouTube as a business: video creation supports 390,000 full time jobs

Have your parents, spouse, or friends told you that nobody really makes a living on You Tube?  They're wrong.   According to this May 2023 Forbes article, citing a recent report from Oxford, explains that the YouTube ecosystem supports 390,000 full time jobs.  That mass of channels, as businesses, plus You Tube itself, contributes $35 billion to the U.S. GDP.  According to U.S. taxpayer data, there was a 207% increase in the number of people who call themselves content creators, streamers, or influencers, from 2021 to 2022.  A fact that surprised me is that nearly 50% of YouTube viewing is on actual TV screens, as opposed to phones, tablets and the like.  YouTube is the most popular streamer on big screen TV's, beating out Netflix, Apple, Hulu and the rest.  It accounts 8.1% total time watching TV.  I had no idea YouTube was that widely watched on actual TV's.  As for the actual YouTubers, the number of channels with over 1 million subscribers went up 15% from 2021 to 2022, and the number of channels earning $100,000 or more per year, went up by 5%.  For more details on YouTube's stats in business, check out the article.  

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