Google chairman Eric Schmidt is big on YouTube, saying that the Google-owned video sharing service is the way of the future. Speaking at an event for advertisers and brands this week, Schmidt said that YouTube enables an interactivity that's not possible on regular television. The service recently passed one billion unique users, and Schmidt believes it will determine the way that video content is consumed from here forward.
"The future is already here," Schmidt said at Pier 36 on Manhattan's Lower East Side, according to CNET. "Video is becoming the global shared experience."
YouTube visitors — now in excess of one billion per month — consume about six billion hours of video on the site every month. The user base spans generations, but YouTube executives believe the service will maintain a lock on the attention of younger users.
"If you want to win that under 40 generation, you've gotta be on YouTube," said YouTube's president of the Americas, Margo Georgiadis.
Since buying the popular video service some years back, Google has continually expanded the reach and capabilities of YouTube. In February, the company added the ability to share YouTube videos from a smartphone or tablet to a smart television. Last year, analysts predicted that Google would net $3.6 billion from YouTube's operations.