The Innovation of YouTube

T A A K  E N G E L S  - with Yente Bouckaert

Introduction:

Hello everyone! Today we are going to talk about YouTube and his YouTube Premium.

The item:

As item, we chose 'a new service'. Because YouTube offers people who are using YouTube a new service called YouTube Premium and YouTube Music (Premium).

The (short) history:

On February 14, 2005 YouTube (= an international company) was registered by Chad Hurley, Jawed Karim and Steve Chen. They were the previous employees of the American company called 'PayPal'. The reason why they started YouTube was because they thought that ordinary people would like to share their home videos. The headquarter of YouTube is located in San Bruno, California.

YouTube was a big success from the start. When the site opened on a liminal base in May 2005, there were 30.000 visitors a day! YouTube was officially launched on December 15, 2005. After this YouTube got more than 2 million views a day! YouTube kept growing and they sold it in November 2006 to Google Inc. for 1.65 billion dollars.

Google knew that they had to reduce the risk of copyright infringement lawsuits. So, they made a deal with a lot of companies that would allow them to put copyrighted video material on YouTube. The users are now also allowed to include particular songs in their YouTube videos. Because of this, you can definitely say that YouTube keeps growing every day!

(Source: https://www.britannica.com/topic/YouTube )

Innovation? What? How?

Innovation is defined as the introduction of something new. YouTube has been innovating by introducing YouTube Premium and also by YouTube Music (Premium) . So, they offer a new service. With YouTube Premium you can listen to your favourite songs/videos without getting advertisements. Also songs/videos can continue in the background, even when you close the app. Unfortunately, to use the service, you have to pay 11.99 (€10,15) dollars a month.

YouTube Music (Premium) is also a new service from YouTube, where you can listen to your favourite songs but you can only watch music videos (the video clip from the song). You can create your own playlist and you can share it with your friends. You have also to pay for this app, but it's less expensive than the YouTube Premium service. The YouTube Music app costs 9.99 (€8,46) dollars a month.

(Source: https://www.cnbc.com/2018/05/17/youtube-premium-and-youtube-music-premium-differences.html )

Has the innovation been successful?

We think the innovation of YouTube has been successfully. One of the reasons for this is that a lot of people have bought a subscription for YouTube Premium and/or YouTube Music (Premium). Together they have 20 million subscribers.

(Source: https://www.billboard.com/articles/business/digital-and-mobile/8550124/youtube-premium-music-20-million-subscribers/ )

Quote by Steve Jobs: personal opinion

'Innovation distinguishes between a leader and a follower.' We think it's correct. Because when one person starts with something new, in this case a new service, someone else will follow this company or organization if they see it is a success.

Our company we chose is absolutely proof of what he, Steve Jobs, claims. Before YouTube started with his 'YouTube Premium' and 'YouTube Music (Premium)' many other companies, such as Spotify, already offered a similar kind of service. So you could say that YouTube is in this situation the follower and not the leader.

Motivation of our choice + Personal experience

Initially, we wanted to choose the company 'Tesla'. However, we couldn't find much about it, so we had to look a little further. Our second option was the company 'BMW', but again it was not really what we were looking for.

We had to keep looking but suddenly Yente had the idea to describe this company. She told Amelieke about it and Amelieke directly agreed. That's how it started!

We both use YouTube often for watching videos or listening to music, but we don't have YouTube Premium and/or YouTube Music.