YouTube CEO Neal Mohan is confident that artificial intelligence technologies and close interaction with content creators will be key drivers for the platform’s development in the future, the Financial Times reports. With an annual revenue of $50 billion, YouTube continues to transform itself, offering not only video content but also music, live sports and a revenue sharing platform among bloggers with an audience of hundreds of millions.
Mohan emphasizes that generative AI technologies will open new horizons for the platform. Despite a decline in advertising revenues in 2023, they increased by 15% to $25.4 billion in 2024. That’s a small portion of Alphabet’s $144 billion in revenue, but the company continues to invest in AI despite rising AI costs to create infrastructure and chips for AI.
As CEO in 2023, Mohan will focus on using generative AI to help bloggers. Developed using DeepMind, Dream Screen and Dream Track, which generate music and video based on text queries, are designed to help content creators, not replace their creativity. Also among the new products is automatic dubbing, which translates videos from English into eight languages.
YouTube continues to increase its investment in original content in 2024, investing $20 billion in the first half of the year, surpassing Netflix and Warner Bros. Discovery. The platform’s most significant investment was a $14 billion deal with the US National Football League.
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Source: VG Times
Gregory Robert is a sports aficionado and a writer for “Social Bites”. He provides in-depth coverage of the latest sporting events and trends, offering a unique and knowledgeable perspective on the world of sports.