YouTube is bigger than cable TV. Well, to be more precise, it’s bigger than any single U.S. cable network among the key demographic that includes those ages 18 to 49 – or so said Google during yesterday’s earnings call. The video-sharing network’s heavily engaged user base and its traction with mobile consumers were among the highlights discussed during the company’s better-than-expected second-quarter financial results, which sent Google’s stock spiking.
Google’s Chief Business Officer Omid Kordestani noted that visitors to YouTube’s homepage are up over three times year-over-year, and once there, they’re spending more time watching videos on the site than ever before. Growth in “watch time” on YouTube is now up 60 percent year-over-year, the company said – which is the fastest growth rate it has seen in two years. Meanwhile, mobile watch time has more than doubled from a year ago.
On mobile, YouTube is now seeing average session times of over 40 minutes, said Kordestani, which is up more than 50 percent over last year.