Facebook Inc (NASDAQ:FB) plans to give YouTube a run for their money with by introducing a video sharing option.
The giant social network has been on a continuous growth pattern by especially with its recent exploits and expansion strategies. Though YouTube was formed earlier than Facebook, the social network seems to be performing way much better due to its huge following or membership. It is reported that over 4 billion users log on to Facebook every day.
Facebook has had the ability to use videos on the social platform for a few years. However, the feature was polished and made available to the public in mid-2014. One may be inclined to think that the social network’s new video feature will not be a threat to YouTube because of YouTube’s video supremacy. But that would be a flawed inference.
Despite video’s being relatively new to users, Facebook Inc (NASDAQ:FB) users have responded positively to videos on the platform. Videos are now one of the most popular features on the social network which also incorporates videos on Instagram.
YouTube should view the social network as a thread because of its wider following. A video is more likely to receive more likes on Facebook than the number of views on YouTube. A test was actually carried out where a video was posted on both networks. The results were in Favor of the social network with 225,000 likes, contrary to YouTube’s 85,000 views.
The competition is bad news for Google’s video service because it means that it will lose some of its subscribers to Facebook. Once Facebook introduces the video sharing capacity, videos will receive more airplay. This also translates to possible advertisement losses for YouTube as more businesses will be attracted to Facebook’s wider reach.
This is the first time YouTube video service is experiencing competitive threats. The company has not made any comments about the rival’s new development. It is also not clear what measures will be taken to counter the competition.
