YouTube is quite frankly a behemoth. Not only is it the second largest search engine on the web after Google, they also have mind blowing stats like having more than 1 billion monthly users, 6 billion hours of video watched per month, with 4 billion videos being watched on YouTube each and every day.
And now it looks like they’re going to build on those stats to start provide crowd funding services to their huge userbase.
Watch this video that YouTube have posted about some new changes coming down the line, and pay particular attention to the crowd funding announcement at about the 1min 30secs mark…
YouTube moving into crowd funding is huge news.
Sure, there are other and more established crowd funding websites out there like Kickstarter and Indiegogo, but the key difference here is that YouTube is more widely known to the ‘normal’ web surfing folks, and when I say ‘normal’ folks I’m talking about your friends, family, and your grandmother.
For example, I’ve just received a smart watch (the Omate TrueSmart, it’s a nice piece of kit ) from a Kickstarter campaign and every single person in my circle of friends and family who I’ve talked to about it didn’t know what Kickstarter was and I had to spend 10 minutes talking about the site and how it works.
These are the ‘normal’ folks, but I can tell you this…
…every single one of them knows what YouTube is.
They watch YouTube videos on their iPhones and iPads, they see them in their Facebook news feed – they see it every day and are used to it. They’ve already built their trust with the ‘normal’ users.
So YouTube adding a function where people can integrate crowd funding payments without the need to go off to a third party website (like Kickstarter) is going to be massive, because it’s not only removing that extra click to another web property, it’s also keeping it in a place that people already know and trust.
It will be interesting to see how they integrate the crowd funding option – will it be a button on the YouTube watch page? Will it be a link that can get overlayed on the video? It’ll also be interesting to see if the option is open to all accounts, or whether there will be restrictions in place on what type of account, or perhaps what type of thing people are allowed to create crowd funding for.
There are some other really interesting bits in the video above, like the new ‘creator’ mobile app that will bring more options for people uploading and managing their YouTube accounts from a mobile device, and also the overhaul they’re planning for ads.
I’d love to hear your comments on what effect you think this new crowd funding option will have for online business owners, and if you’re active on YouTube you should take a read of these four reports that are in our private members area. If you’re not a member you can get a 7 day trial access to all the reports (and our private members forum) for just $1 – Click Here To Grab All The Reports
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