YouTube Chief Says the Battle With TV Is Already Over -- and TV Lost Huffington Post

Google Executive Chairman Eric Schmidt declared that victory by YouTube over television has “already happened,” The Huffington Post reports. Schmidt, whose company owns YouTube, spoke during a presentation by Google to advertisers Wednesday in New York.

“Schmidt said, ‘The future is now’ for YouTube, which recently passed the milestone of 1 billion unique visitors every month. But he added with the Third World in mind, if you think that's a large number, ‘Wait until you get to 6 (billion) or 7 billion.’” the story reports.

The report adds: “Schmidt and YouTube, which billed the event as a ‘brandcast,’ shifted away from the video platform's relationship to TV. A year ago, YouTube seemed to have its sights set on reinventing television by funding the launch of more than 100 channels from well-known media brands and Hollywood personalities. But that initiative went unmentioned at Wednesday's presentation.”

The event was part of a week of “NewFronts,” the digital media equivalent of television’s upfront presentations to advertisers. “Though the model for the evening was TV, YouTube used it to distinguish itself as something entirely different,” the piece reports.

Said Schmidt: "It's not a replacement for something that we know. It's a new thing that we have to think about, to program, to curate and build new platforms."

Robert Kyncl, global head of content for YouTube, echoed Schmidt’s sentiment, saying: "I thought that YouTube was like TV, but it isn't. I was wrong. TV is one-way. YouTube talks back."

He added: "TV means reach. YouTube means engagement."

Some comparisons were made between YouTube and TV, including YouTube’s touting the fact that more users 18-34 watch YouTube than any cable network.

“Though companies like Yahoo and AOL have used their NewFront presentations to announce new slates of original programming, YouTube made no programming announcements Wednesday night,” the report notes. “YouTube celebrated DreamWorks Animation's purchase Wednesday of the teen-focused YouTube network Awesomeness TV for $33 million.”

DreamWorks CEO Jeffrey Katzenberg joined the festivities, and commented: "This is a whole new form of content, content delivery and content consumption. It's the medium of the future and the future has already arrived."