Hurley gave the keynote for the digital portion of Mipcom in Cannes, France, today, and compared YouTube to CBS in 1941: that is, fighting for advertiser acceptance and content owners' fear that it would mean the end of big media which, at the time, meant radio.
Other highlights from Hurley's speech:
- "Companies like CBS, the BBC, HBO, Sony BMG, North One and AFP just to name a few, have already joined us."
- "If you embrace this opportunity, you will evolve your business model and find new channels and opportunities to deepen engagement, discover new viewers and find new, substantial revenue opportunities."
- "Even if YouTube didn't exist, other platforms would surely be driving this change."
- "Around 10 billion videos are viewed monthly online in the U.S. alone. On YouTube 13 hours of content are uploaded every minute."
- "The online video advertising market is set to be worth over a billion dollars by 2010, will reach over $3 billion by 2012, and over $5 billion by 2013."
- CBS has had 250 million views of its YouTube channel, and is selling its own ad inventory on the site.
- Silliest comparison: "Again, 13 hours of video are uploaded to YouTube every minute. That's the equivalent of Hollywood releasing more than 57,000 full-length movies every week." Right, just like that.
We'll get a better sense of how well YouTube is doing on the advertising front later on today when Google reports earnings at 4:30 p.m. EST.