Business Mirror reports that Google executive chairman Eric Schmidt, speaking to digital advertisers in New York last night, said that the Internet has already displaced television as the go-to video destination. With more than a billion unique YouTube users a month (surpassed only by Facebook and Google itself), it’s hard to argue with Schmidt, though studies continue to show a marked lag between YouTube viewership and that of traditional broadcast—in the UK, for instance, “the average Briton [watches] four hours and seven minutes of broadcast television per day and just 20 minutes of YouTube in the same period of time,” claims the article.

Still, in the coveted 18-34 demographic, YouTube is watched more than any cable network in the United States, according to the article. Read more commentary on Schmidt’s comments at Business Mirror.

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