Video giant YouTube — owned by Google (NASDAQ:GOOG) — has just broken through the billion monthly user mark.
The site — which delivers both commercial and amateur videos to users — announced the milestone at an event in Santa Monica, Calif. Wednesday, reports the Associated Press.
Started in 2006, YouTube was purchased by Google for $1.76 billion in 2006 when the site had 50 million worldwide users. Since the purchase, the site has grown and provided a lucrative advertising channel for the search engine. Advertisers can target specific types of users or even the new content channels that were launched in 2011.
While YouTube has spent money encouraging and investing in the new channel concept, going forward it will wait until others make channels successful before making providing money to expand individual channels. “What we’re looking for is the acceleration of those who are figuring out how to retail their content,” Robert Kyncl, VP and global head of content partnerships, told AP.