YouTube continues to surge despite increased video competition

YouTube CEO Susan Wojcicki says the Internet video service is still growing at a rapid rate, despite increased competition from Facebook, Netflix and other video providers.

"Our watch time year on year is growing over 50 percent… It is still accelerating,” said Wojcicki at a conference in Aspen, Colorado. YouTube also has over one billion users watching videos every month.

When speaking about the differences between YouTube and Facebook video, Wojcicki claimed YouTube users “are actually clicking. We want our users engaged. We want them not just channel surfing. We want them to say I saw that video, I cared about that video. I commented on it."

Even with the confidence in YouTube’s future, Wojcicki did not reveal anything about revenue for the video service. It has long been established that YouTube is on thin ice, with its ad-sharing program and server costs giving just enough room to break even.

YouTube has plans to make revenue elsewhere, one such plan is Music Key, a subscription service coming later this yea. For £7.99, users will be able to listen to YouTube music in the background or while doing something else on an iPhone, iPad or Android device.

It also has plans, as Wojcicki shared last year, for a subscription option for YouTube channels. The subscription may allow users special emojis, forum access, no-ads and other features unavailable to regular users.

We didn’t hear much about this subscription platform at the conference earlier this week, meaning it is unlikely to come any time soon. YouTube tried paid channels last year, but ultimately failed to draw in the right audience.

One of the other major goals for YouTube in the next twelve months is growth on mobile. It launched a complete redesign early in 2014, aimed at speeding up videos and offering a cleaner user interface across iOS and Android.