YouTube Profits Closer Than Ever
The days of YouTube representing a financial black hole may soon come to an end. Several of Google’s execs have indicated that the video-sharing site is on track to start making more money than its operations consume.
Google’s CFO, Patrick Pichette, issued the most precise forward-looking statement during the company’s earnings call late yesterday. "We’re really pleased both in terms of its revenue growth, which is really material to YouTube and, in the not-long, too-long-distant future, we actually see a very profitable and good business for us," he said.
CEO Eric Schmidt also confirmed (speaking a little more vaguely), "YouTube is now on a trajectory that we’re very pleased with."
And as for what the current state of things looks like, Jonathan Rosenberg, Google’s senior vice president of product management, specified, "We’re now monetizing billions of views of partner videos every month."
This paints a pretty rosy picture, all in all. YouTube, while one of Google’s most popular sites, has also been something of a disappointment in that Google hasn’t gotten a significant return on its initial $1.65 billion investment. Now it looks like Google will be able to correct the problem.