Following updates this week relating to new video metrics and an algorithm update geared towards showing users more videos, Facebook has today announced its first steps towards enabling video partners to earn ad revenue from the 4 billion plus videos they’re serving to users every day – a move which also signals its next advance on YouTube in the battle for online video dominance.
New research has suggested that Facebook is closing in on YouTube and it's long-held dominance of online video advertising. So does this mean YouTube is done? While there's still a long way to go in this battle, the signs do suggest that YouTube has a serious fight on it's hands, a position it's not been in before.
We watch more than 6 billion hours of video on YouTube every month, which represents a major opportunity for businesses to reach their audiences active on this network every day. Spending on online video advertising will increase by 38.9% and reach $5.75 billion by the end of 2014.