Facebook is all set to challenge Google in the online video market.
Google Inc. and Facebook are two of the giant companies in the information technology sector. Furthermore, both of these companies are the leaders in their own market and have been the dominant force for quite a long time now. Google is expanding at a very fast pace to keep up with the fast pace technology world and Facebook is doing the same as well to sustain its market position and status. The recent news regarding both companies is that they are set to take on each other but in a very different market than usual.
According to The New York Post, Google and Facebook will be battling each other in a very different market of online videos. Previously, these both tech giants used to take on each other in the advertisement market where the competition was very tough. However, Facebook leads the market of advertisements by a major chunk followed by Google, Twitter, and Yahoo right behind it. The New York Post writes “Google and Facebook were facing off for ad dollars here this week, with both companies operating out of huge beachside booths to pitch marketers on their offerings.”
As it stands now, Google dominates the online video market. Undoubtedly, Google is the uncrowned king of the industry and all credit goes to its ownership of YouTube. However, reportedly Facebook is working on a strategy to take on Google. Furthermore, sources familiar to the matter suggest that the social media giant has ‘much more diverse set of assets’.
An executive at one agency stated “You look at Facebook and see Instagram, Whatsapp and Oculus Rift, and you’re starting to see how they all come together. It must be very scary for Google to see that.” It is right that not only Facebook is beefing up its online videos segment but all other social media companies are turning their focus to this thing. Hence, Google and YouTube will have to take certain actions in order to sustain their market status and position in the coming time.
As mentioned above, it is possible that Instaram and WhatsApp must not be working on it on the same level as Facebook is. But YouTube is still here to reign over all other online video platforms.
It would be exciting to see how Facebook bring its A game to dethrone the market leader in the coming times. Mark Zuckerberg realizes the importance and significance of online videos hence he is all set to capitalize on it.
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