According to Wojcicki CEO, YouTube plans to use Web3

YouTube CEO Susan Wojcicki said Tuesday that YouTube is expanding in ways that “can help creators leverage emerging technologies like NFT.”

Susan Wojcicki – YouTube CEO

In Letter annually outlining the Google-owned company’s priorities, Wojcicki doesn’t speak specifically about  YouTube plans to use Web3, but makes it clear that YouTube will be showing videos in heavily promoted areas by the end of the year.

“The past year in the world of crypto, non-fungible tokens (NFTs) and even decentralized autonomous organizations (DAOs) has presented an incredible opportunity to expand the connection between creators and creators, creators and fans.”

“We’ve always been focused on expanding the YouTube ecosystem to help creators take advantage of new technologies, including things like NFT, while continuing to strengthen the experiences creators and fans have on YouTube and.” to improve.”

Wojcicki said YouTube is inspired by “everything that happens in Web3,” a term hotly debated on Twitter that represents the next evolution of the internet related to blockchain technology, electronic money, and decentralized platforms. It’s a very different world from the current internet model, which has been dominated by Google and several other big companies for the past two decades.

YouTube is the latest social media company to embrace such futuristic language and align its strategy with the idea of ​​a changing digital economy. Vaguely speaking, YouTube is telling creators that they will have more opportunities to make money when the new model comes out.

In the third quarter, YouTube’s advertising revenue grew 43% to $7.21 billion from $5.04 billion a year earlier, in line with Google’s overall revenue growth. The company will report fourth-quarter results next week.

Wojcicki also said YouTube is planning more details on podcasting, which will provide another avenue for distribution and promotion.

“As podcast usage continues to grow, we expect it to become a staple of the creative industries.”

Google has stepped up efforts to compete with TikTok in viral short videos. Wojcicki says a competing YouTube product called Shorts has achieved “5 trillion all-time views” since its launch in 2020. The last time Google provided an update was in July 2021, when CEO Sundar Pichai said Shorts hit 15 billion daily views.

Wojcicki said the company is currently in the early stages of testing how to integrate shopping with shorts. Wojcicki also wrote about plans to hire more people so YouTube can give creators more insight into policy violations.

Wojcicki’s letter concluded by mentioning regulation, an area of ​​high concern for Google that is under numerous investigations in the US and abroad for alleged monopoly control and the spread of misinformation.

“We are currently complying with regulations in countries around the world. However, we also fear that the new regulation could have unintended consequences that could impact the author community, particularly in relation to the Legal Speech Act.

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