Business Spotlight: YouTube Part 2

Continued from Part 1… YouTube’s success drew the attention of Google, which acquired the site for $1.65 billion (about ¥200 billion) in the autumn of 2006. It was Google’s second largest acquisition at the time. With Google’s support, YouTube has evolved from an amateur video-sharing site to a comprehensive media company in its own right. Users can now stream music, rent full-length movies and television programs, and watch livestreams of major sporting events all on the one site. Nonetheless, like many top-performing websites, YouTube is no stranger to controversy. Complaints about the website are wide-ranging. Though it has been instrumental in shaping politics, the website has been criticized for its tepid response to extremist videos. Similarly, though it has helped forge many careers, it has also been condemned for how it monetizes its videos. Both have caused advertisers to withdraw from the site. Regardless, YouTube’s enormous influence is clear. Love it or hate it, it has quite literally changed how we view the world. This article was provided by The Japan Times Alpha.