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Thursday 24th October 2013

YouTube becoming more popular than TV with 18-34 year olds

It was recently announced at YouTube’s Brandcast event that YouTube have a wider monthly reach in the sought after 18-34 age group than conventional television competitor, ITV.

In a bid to show the scale of Google's video platform in the UK, Matt Brittin, Google’s vice president of business and operations in Europe, said 45 million hair and beauty videos are watched on YouTube every week, while on mobile, people spend 25 times more time watch watching YouTube than iPlayer or anything else.

Brittin said: "The internet economy is bigger in the UK than anywhere else. It is a £150 billion internet economy. It is growing at 10 per cent or more per annum. It's forecast to grow 10 per cent a year for the next four years.”

"The internet economy in US and China are both forecast to grow less fast than the UK internet economy. That's all about buying things online. That is powered by consumers. Fifty per cent of that is consumer online spending. But it's also driven by small business."

He continued: "Small businesses in the UK that are online are growing between four and eight times faster than those that aren't and exporting twice as much as those that aren't.

"There is a really powerful opportunity for that. We are world leaders at this. The internet is there for prosperity."

Ending on a positive note, Brittin said: "We are great at original content. We're great at advertising. We're great at retail. In a world where can reach 2.5 million people already, and will be able to reach 5 million soon, all of us have an opportunity to be bold."

This considered it seems that the opportunities for digital advertising and engagement are continuing to increase at high levels, and as it is clear that the receptive target audience of 18-34yr olds are focusing large amounts of their attention online, thus the prominence and importance of digital marketing and strategy is no coincidence.