YouTube will be the dominant platform in which we consume media in half a decade, dwarfing current television giants, according to Jeffrey Katzenberg CEO of DreamWorks Animation.
Speaking at Cannes Lions, Katzenberg described YouTube as a fantastic platform for studios to discover new talent and said that companies should be looking to invest in it as soon as possible.
“It gives a platform or voice for all kinds of creators to be able to express themselves and tell stories," Katzenberg said. "The barrier of entry into the business is lower than ever before and that is a great thing.”
Comparing his cherished trips to the cinema and viewing video content on mobile devices, Katzenberg said: “I love movie theatres and making movies for the big screen but these little devices have sharabilty, snackabilty and connectivity. It is so completely unique; we are still at the beginning of the beginning of this evolution.
“Mobile content provides a much more personal experience in that you learn about people and follow them and become a fan… you become a friend.
“There is a much deeper connection in this world of blogging and short form content that is becoming a little bit of a cliché but you are leaning into that experience instead of sitting back.”
Discussing the new channel for kids, Dreamworks TV, which will distribute over 15,000 hours of content for kids across YouTube, Katzenberg stated that he was very excited to bring his company into a more consumable platform – especially for kids
He said that studies showed that kids were consuming television, firstly through Netflix and then YouTube, conventional channels were much further down the list.
“YouTube has established a foundation that will in five years be the biggest most valuable media platform by far and there will not be anything remotely close to it.
“They have created the bottom of the pyramid and over these next few years we’ll watch the pyramid grow. The advertising community must get in there today on the ground floor and experiment – just the way we are.”