Google believes YouTube has displaced TV

YouTubeGoogle executive chairman Eric Schmidt believes internet video has already overtaken TV in terms of relevance.

Schmidt spoke at a gathering of digital advertisers in New York this week and when asked when internet video would displace TV, he answered: “That’s already happened.”

“It’s not a replacement for something that we know,” he added. “It’s a new thing that we have to think about, to program, to curate and build new platforms.”

YouTube has vowed to “reinvent television” by adding a wide range of new channels from well-known media brands and celebrities.

“I thought that YouTube was like TV, but it isn’t. I was wrong,” said Robert Kyncl, YouTube’s global head of content. “TV is one-way. YouTube talks back.”

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