So did Netflix just win the latest round of the streaming wars?

那麼 Netflix 剛剛贏得了最新一輪的流媒體大戰嗎？

I see them as winning the streaming wars.

我認為他們贏得了流媒體戰爭。

Netflix, the great media disrupter, a company that turned the entertainment industry on its head.

Netflix，偉大的媒體顛覆者，一家顛覆娛樂產業的公司。

In light of Netflix's ability to just be and be the king in this sandbox.

鑑於 Netflix 能夠在這個沙盒中稱王稱霸。

As established media companies struggled to turn a profit on their own streaming services, many pundits crowned Netflix the winner in the streaming wars, the OG of subscription streaming, the king of digital content.

當老牌媒體公司都在為自己的流媒體服務盈利而苦苦掙扎時，許多專家都將 Netflix 冠以流媒體大戰的贏家、訂閱流媒體的鼻祖、數字內容之王的稱號。

I always say the crown as a program may be over, but it has been crowned the most successful media company and most valuable, and it will continue.

我總是說，作為一個節目，它的王冠可能已經結束了，但它已經被冠以最成功的媒體公司和最有價值的媒體公司的稱號，而且它還將繼續下去。

Netflix makes up more than 7% of total TV usage in the U.S.

Netflix 佔美國電視總使用量的 7% 以上。

But surprise, it's technically not winning the streaming wars.

但令人驚訝的是，從技術上講，它並沒有贏得流媒體戰爭。

I'm going to spend the next 50 hours buried alive in this coffin.

接下來的 50 個小時，我將被活埋在這個棺材裡。

You're going to lose!

你輸定了

I've got to be honest, I kind of think I can do expert.

老實說，我覺得我可以成為專家。

No, no, no, no.

不，不，不，不

The most-watched streaming platform is YouTube.

觀看人數最多的流媒體平臺是 YouTube。

Hi, friends!

嗨，朋友們

I kind of have a different take on this. 3, 2, 1.

我對此有不同的看法。3, 2, 1.

YouTube, of course, isn't new.

當然，YouTube 並不是什麼新鮮事物。

You know that already.

你已經知道了。

It was founded in 2005.

它成立於 2005 年。

But what is new is its accelerating domination of the living room.

但新的是，它正在加速主宰客廳。

More than half of all YouTube viewing is now done on a traditional television.

現在，超過一半的 YouTube 觀看都是通過傳統電視完成的。

The Alphabet-owned video streaming platform has led the entire streaming space in overall time watched for 15 consecutive months, ahead of Netflix.

Alphabet 旗下的視頻流媒體平臺已連續 15 個月在整個流媒體領域的總觀看時間上領先於 Netflix。

And if you zoom out to the entire TV world, we're talking cable, broadcast, and streaming.

如果把視野放大到整個電視世界，我們就會看到有線電視、廣播和流媒體。

YouTube is still watched more than every other media company's platforms other than Disney, which owns Disney+, Hulu, ESPN, ABC, and other cable networks like FX and NatGeo.

除了擁有 Disney+、Hulu、ESPN、ABC 以及 FX 和 NatGeo 等有線電視網絡的迪斯尼之外，YouTube 的收視率仍然高於其他所有媒體公司的平臺。

Whether we're talking Disney+, or Hulu, or Paramount+, you look at who's still growing, growing the greatest share year over year.

無論是迪斯尼+，還是 Hulu 或派拉蒙+，你都要看看誰還在增長，誰的份額逐年增長最大。

It is insane that YouTube is still dominating the growth rate, even despite their size.

儘管規模龐大，YouTube 的增長速度仍然遙遙領先，這實在是太瘋狂了。

Any competitor for time and attention is obviously not good for streamers.

任何爭奪時間和注意力的競爭者顯然都不利於流媒體。

If YouTube is already this far ahead and growing, should other streamers be worried?

如果 YouTube 已經如此領先並不斷髮展壯大，其他流媒體是否應該擔心呢？

Even Netflix?

甚至是 Netflix？

It's been almost two decades since Netflix's move to online streaming kicked off a massive shift in the entertainment industry.

Netflix 的在線流媒體業務掀起了娛樂業的巨大變革，距今已有近二十年的時間。

A race to the top that would eventually be deemed the streaming wars.

這場競爭最終被視為流媒體大戰。

Currently, almost every major media entity is represented in the space in one way or another, all vying for the attention of a massive digital audience dominated by younger viewers.

目前，幾乎所有主要媒體都以這樣或那樣的方式參與到這一領域，爭奪以年輕觀眾為主的大量數字閱聽人的注意力。

So many media executives that we would run into is they always sort of try to silo and say, OK, there's this thing called premium content.

我們遇到的許多媒體高管總是試圖把自己孤立起來，說 "好吧，有一種東西叫優質內容"。

That's what you make for TV or for streaming.

這就是你為電視或流媒體制作的內容。

Then there's this other stuff that you watch on YouTube.

然後是你在 YouTube 上看到的其他東西。

Now, you may be thinking, isn't YouTube a social media site?

現在，你可能會想，YouTube 不就是一個社交媒體網站嗎？

Is calling it a streaming service comparing apples to oranges?

說它是流媒體服務，是不是把蘋果和橘子相提並論？

When you think about time spent, it's absurd to separate it into different buckets.

當你考慮花費的時間時，把它抽成不同的桶是荒謬的。

Whether you're watching the NFL, or whether you're watching TikTok, or whether you're watching YouTube, it doesn't matter.

不管你是在看 NFL，還是在看 TikTok，還是在看 YouTube，這都不重要。

It's just time.

只是時間問題。

When Google bought YouTube back in 2006, it paid $1.65 billion for a platform that was only a year old at the time.

谷歌在 2006 年收購 YouTube 時，花了 16.5 億美元買下了這個當時只有一年曆史的平臺。

Fast forward to today, and analyst Michael Nathanson says YouTube alone could be worth $400 billion.

時至今日，分析師邁克爾-納坦森（Michael Nathanson）稱，僅 YouTube 一家公司的價值就可能達到 4000 億美元。

That's not only worth more than Netflix, it's worth more than Disney and Comcast combined.

這不僅比 Netflix 的價值高，而且比迪士尼和康卡斯特的總和還要高。

But YouTube is still the 800-pound gorilla in the space, and I do believe they're a pretty unstoppable juggernaut.

但是，YouTube 仍然是這一領域的 800 磅大猩猩，而且我相信他們是勢不可擋的巨無霸。

Globally, YouTube is the second most visited website in the world, sitting just behind its parent company, Google, in monthly traffic.

在全球範圍內，YouTube 是全球訪問量第二大的網站，月流量僅次於其母公司谷歌。

So they have two modalities, the traditional horizontal video, they have the vertical video, they have the personalization engine that I think is kicking in in a big way.

是以，他們有兩種模式，一種是傳統的橫向視頻，另一種是縱向視頻，還有一種是個性化引擎，我認為這種引擎正在大行其道。

That is increasingly one of the biggest and fastest growing platforms we're on.

這也日益成為我們最大、發展最快的平臺之一。

And when people are sitting down to watch TV, they're increasingly turning on YouTube.

當人們坐下來看電視時，他們越來越多地打開 YouTube。

And you see a lot of what you'd expect, which is that they are watching longer sessions, longer content.

你會看到很多你意想不到的現象，即他們觀看的時間更長，內容更長。

A lot of our biggest creators are starting to make longer content for the TV explicitly.

我們的許多大創作者都開始為電視製作更長的內容。

More than a billion hours of YouTube content is watched on TVs every day, with 150 million connected TV viewers tuning in each month.

每天有超過 10 億小時的 YouTube 內容在電視上播放，每月有 1.5 億聯網電視觀眾收看。

The amount of YouTube creators who say the majority of their watch time comes from TV climbed more than 400 percent in just three years.

YouTube創作者中表示大部分觀看時間來自電視的人數在短短三年內攀升了400%以上。

We're not talking about your mobile phone, your laptop that I'm sure you see your kids using all the time.

我們說的不是你的手機，也不是你的筆記本電腦，我相信你會看到你的孩子們一直在使用它們。

But on the biggest screen in the house, the TV, 25 percent of the streamed content is coming from YouTube.

但在家中最大的電視屏幕上，25% 的流媒體內容來自 YouTube。

Every executive has to be paying attention.

每位高管都必須關注。

Another major factor behind YouTube success is the cost or lack of it.

YouTube 成功背後的另一個主要因素是成本或成本不足。

While younger audiences have shied away from $100 per month for cable TV, nothing is more appealing or user friendly than free.

雖然年輕觀眾對每月 100 美元的有線電視望而卻步，但沒有什麼比免費更有吸引力或更方便用戶了。

YouTube makes a lot of money because they keep it free.

YouTube 賺了很多錢，因為他們保持免費。

The minute you put up that wall, a literal paywall between the product you're trying to push and the people you want to push it to, people aren't going to care.

一旦你在你想要推廣的產品和你想要推廣的人群之間豎起了一堵付費牆，人們就不會在意了。

And that brings us to YouTube's other secret weapon.

這就是 YouTube 的另一個祕密武器。

It's content and content creators.

是內容和內容創作者。

They're producing at a level that is consistent with what we've traditionally expected from Hollywood.

他們的製作水準與我們對好萊塢的傳統期望是一致的。

The beauty of it and the evolution of what the platform has become is that whatever you want to find on YouTube, you will find it.

這個平臺的魅力和演變之處在於，無論你想在 YouTube 上找到什麼，你都能找到。

This is wild.

太瘋狂了

YouTube's bread and butter is its user generated content, or what YouTube likes to call creator led content.

YouTube 的麵包和黃油是用戶生成的內容，也就是 YouTube 喜歡稱作的 "創作者主導內容"。

YouTube sees about 3.7 million new videos uploaded to its platform daily.

YouTube 平臺上每天上傳約 370 萬部新視頻。

That's more than 271,000 hours of fresh content each day.

這意味著每天有超過 271,000 小時的新鮮內容。

The responsibility of content generation falls solely on creators, not the company, saving YouTube billions of dollars.

內容製作的責任完全由創作者而非公司承擔，這為 YouTube 節省了數十億美元。

Our business is much more about scale and audiences and technology, and that's the base that we came from.

我們的業務更注重規模、閱聽人和技術，這也是我們的基礎。

And that's why you see us typically not also getting into the traditional studio business.

這就是為什麼我們通常不會涉足傳統的工作室業務。

From the creator side, it's something that I think is very, very exciting in the sense of creators can have their work viewed on a television.

從創作者的角度來說，我認為這是一件非常令人興奮的事情，因為創作者可以在電視上看到自己的作品。

And the only barrier to entry is the upload button.

唯一的門檻就是上傳按鈕。

For years, traditional media executives viewed YouTube's creator led content as low quality, thinking, sure, it's free, but eventually users will want to watch something with more substance.

多年來，傳統媒體的高管們一直認為 YouTube 上由創作者主導的內容品質不高，他們認為，這些內容當然是免費的，但用戶最終還是會希望觀看更有內涵的內容。

But recently, the evidence suggests otherwise.

但最近的證據表明情況並非如此。

A 2023 survey found the majority of both Gen Z and younger millennials say user generated content is their preferred entertainment method.

2023 年的一項調查發現，大多數 Z 世代和年輕的千禧一代都表示，用戶生成的內容是他們首選的娛樂方式。

According to a Pew Research study, 71 percent of teens say they use YouTube daily, with one in five claiming they're on YouTube almost constantly.

根據皮尤研究中心的一項研究，71% 的青少年表示他們每天都使用 YouTube，其中五分之一的青少年聲稱他們幾乎經常使用 YouTube。

I grew up on YouTube.

我是在 YouTube 上長大的。

I think that's a big difference is I've seen the way that it has evolved and it has filled in the space between the streaming platforms.

我認為這是一個很大的區別，因為我看到了它的發展方式，它填補了流媒體平臺之間的空白。

I think there's a lot of like viewers fatigue.

我覺得有很多人都像觀眾一樣疲勞了。

There's so much media out there that when you find a person that you really like or that you really resonate with or a type of content that you like, it fits into a routine of your life.

外面有太多的媒體，當你找到一個你非常喜歡的人，或者你非常有共鳴的人，或者你喜歡的內容類型時，它就會融入你的生活日常。

Part of the draw is reliable, consistent contact, like a relationship, even if it's through a screen.

吸引力的一部分在於可靠、持續的聯繫，就像一種關係，即使是通過螢幕。

YouTubers are available to their audiences.

優酷用戶可以與他們的閱聽人交流。

Viewers aren't waiting for new seasons or renewals of their favorite series.

觀眾不再等待他們喜愛的劇集的新一季或續訂。

And comments and analytics mean creators get real time feedback on what is and isn't working.

評論和分析意味著創作者可以獲得實時反饋，瞭解哪些有效，哪些無效。

During COVID, with millions of people stuck in their houses around the world, YouTube provided people with something more than just passive content.

COVID 期間，全球數百萬人被困在家中，YouTube 為人們提供的不僅僅是被動的內容。

It gave them social connection.

這給了他們社會聯繫。

People feel like they know me because I'm a friend to them.

人們覺得他們認識我，因為我是他們的朋友。

They can throw me up on the TV and I'm sharing parts of my life.

他們可以把我扔到電視上，讓我分享自己的部分生活。

I'm sharing my opinions, what I'm doing every day.

我在分享我的觀點，我每天都在做什麼。

A lot of people work from home now.

現在很多人都在家工作。

It's just throwing something in the background that is it's not risking missing out on a chapter.

這只是在背景中加入一些東西，這樣就不會有錯過一章的風險。

It's just for company, to be honest.

老實說，這只是為了做個伴。

What I've appreciated about being a YouTube creator is having the opportunity to iterate, create content and receive feedback from an audience immediately.

作為一名 YouTube 創作者，我最欣賞的是有機會不斷迭代、創作內容並立即從閱聽人那裡獲得反饋。

We have so many creators like Red and Link, Jimmy Donaldson, MatPat, people who have spent years building their channels into something where you watch those channels and qualitatively can't tell the difference between what we think as traditional and what we think as what you would expect.

我們有很多像 Red and Link、Jimmy Donaldson、MatPat 這樣的創作者，他們花了數年時間建立自己的頻道，讓你在觀看這些頻道時，無法從本質上區分我們認為的傳統頻道和你所期待的頻道。

Potentially from digital.

可能來自數字技術。

So if you think about it from the creator standpoint, they are getting something that no other platform can give them, which is massive global reach on every device, in every language, all over the world.

是以，如果從創作者的角度考慮，他們將獲得其他任何平臺都無法提供的東西，那就是通過各種設備、各種語言，在全球範圍內進行大規模傳播。

YouTube's revenue largely comes from advertising.

YouTube 的收入主要來自廣告。

And while traditional media companies have struggled in recent years to attract ad dollars as cable TV subscriptions have declined, YouTube has soaked up the revenue.

近年來，隨著有線電視訂閱用戶的減少，傳統媒體公司一直在努力吸引廣告資金，而 YouTube 卻吸納了這些收入。

In Q1 this year, YouTube saw ad revenue growth of 21 percent year over year.

今年第一季度，YouTube 的廣告收入同比增長 21%。

YouTube's global advertising revenue in 2023 was around $31.5 billion.

2023 年，YouTube 的全球廣告收入約為 315 億美元。

To put that in perspective, Paramount Global, one of the largest entertainment companies in the world, had total revenue in 2023 of $29.6 billion.

從這個角度來看，全球最大的娛樂公司之一派拉蒙全球公司 2023 年的總收入為 296 億美元。

That's for the entire company, not just advertising.

這是對整個公司而言，而不僅僅是廣告。

YouTube shares its profits with its creators.

YouTube 與創作者分享利潤。

Over the past three years, YouTube's partnership program has paid out $70 billion.

在過去三年裡，YouTube 的合作伙伴計劃已經支付了 700 億美元。

Why would I create a show and sell it to a network when I could just put it on YouTube?

我為什麼要製作一個節目，然後賣給電視臺，而我可以直接放到 YouTube 上？

You're self-funding, but if the money you're making from AdSense is going right back into your content to make more money, why do you even have to contact that third party?

你是自籌資金，但如果你從 AdSense 賺到的錢又直接投入到你的內容中去賺更多的錢，那你為什麼還要聯繫第三方呢？

Because what we're trying to do here is not like take what's working on TV and throw it on YouTube.

因為我們要做的不是把電視上的東西搬到 YouTube 上。

We're trying to iterate on it.

我們正試圖對其進行迭代。

We're trying to be additive to it, put our own spin on it and ultimately develop our own version of storytelling.

我們試圖對其進行補充，加入我們自己的元素，最終形成我們自己的故事版本。

Putting yourself onto Paramount Plus would be like a death sentence to these creators because you would be constricting the visibility to such a small level.

把自己放到 Paramount Plus 上對這些創作者來說無異於宣判死刑，因為你會把知名度限制在如此小的範圍內。

It's unclear if YouTube's still growing popularity presents an existential crisis to traditional media, but it's at least worth considering that streamers, including Netflix, may soon need a YouTube strategy to address changing consumption habits, especially among younger viewers.

目前還不清楚 YouTube 不斷增長的人氣是否會給傳統媒體帶來生存危機，但至少值得考慮的是，包括 Netflix 在內的流媒體公司可能很快就需要制定 YouTube 戰略，以應對不斷變化的消費習慣，尤其是年輕觀眾的消費習慣。

Can you create a competitor?

你能創造一個競爭對手嗎？

I'm sure you could.

我相信你可以的。

It's certainly not in the DNA of any of these companies.

這肯定不是這些公司的基因。

Now, that being said, you are seeing talent that grew up in the UGC world start to make inroads into the streaming world.

儘管如此，在 UGC 領域成長起來的人才開始進軍流媒體領域。

You need to make sure you've got the scale, you need to make sure you've got the technology capability, and you need to make sure you've got the balance sheet.

你需要確保你有足夠的規模，你需要確保你有足夠的技術能力，你需要確保你有足夠的資產負債表。

And there's probably only a couple of companies that can do that.

可能只有幾家公司能做到這一點。

Definitely having an impact on traditional television now, then you layer on things like Netflix and Amazon Prime doing advertising now.

現在肯定會對傳統電視產生影響，然後再加上 Netflix 和 Amazon Prime 等公司現在做的廣告。

And, you know, you have a recipe for a very, very difficult next decade for traditional linear television.

是以，傳統的線性電視在未來十年中將會非常、非常艱難。

Not that long ago, traditional media companies saw Netflix as a companion service rather than a competitor.

不久前，傳統媒體公司還將 Netflix 視為配套服務而非競爭對手。

Then Netflix got so popular that it started to compete for shows and movies against the media companies who supplied it with content.

後來，Netflix 越來越受歡迎，開始與提供內容的媒體公司競爭節目和電影。

It's fair to wonder, is YouTube ultimately a companion or a competitor?

我們不禁要問：YouTube 最終是同伴還是競爭對手？

We'll presume that the other streamers are our competitors.

我們假定其他流媒體是我們的競爭對手。

They're some of our best partners, right?

他們是我們最好的合作伙伴，對嗎？

Because I think the strategy I see them leaning into is using supplementary distribution platforms like YouTube to get out their content, their marketing, their engagement with younger people and younger audiences.

因為我認為，我看到他們傾向的策略是利用 YouTube 等輔助傳播平臺來傳播他們的內容、進行營銷、與年輕人和年輕閱聽人互動。

At the end of the day, Disney is a storytelling machine.

歸根結底，迪斯尼是一部講故事的機器。

And we use YouTube, that short form video on YouTube, as more of a promotional device.

我們將 YouTube（YouTube 上的短視頻）更多地用作宣傳手段。

Now, you can still make money on it.

現在，你仍然可以靠它賺錢。

Now, you can put a trailer for, you know, Frozen 2, a two minute trailer on YouTube and actually have advertising attached to it and sponsorship attached to it.

現在，你可以在 YouTube 上發佈《冰雪奇緣 2》的預告片，一個兩分鐘的預告片，並附帶廣告和贊助。

So you can kind of kill two birds with one stone.

這樣你就可以一石二鳥了。

You can promote your product and you can monetize on YouTube.

你可以在 YouTube 上推廣你的產品，也可以賺錢。

This video you're watching right now is an example of this exact strategy.

您正在觀看的這段視頻就是這種策略的一個實例。

CNBC, a cable television network, utilizing YouTube to expand its reach.

有線電視網絡 CNBC 利用 YouTube 擴大影響力。

Think about how often you see SNL or Late Night with Jimmy Fallon clips go viral online.

想想你經常看到 SNL 或《吉米-法倫深夜秀》的片段在網上瘋傳。

YouTube is expanding reach, which is great for media companies.

YouTube 正在擴大覆蓋範圍，這對媒體公司來說是件好事。

But YouTube is also competing against these same company's streaming services.

但是，YouTube 也在與這些公司的流媒體服務競爭。

And the more time you all watch YouTube, the less time you watch everything else.

你們看 YouTube 的時間越多，看其他東西的時間就越少。

Sports is also subject to the same phenomenon, where young people are watching highlights and highlights only and the whip arounds like the Red Zone network.

體育也有同樣的現象，年輕人只看精彩片段和集錦，以及紅區網絡等鞭長莫及的節目。

What we're seeing from all of these traditional media companies is they don't have enough content and it's too expensive to produce the types of premium content at scale that they need.

我們從所有這些傳統媒體公司身上看到的是，他們沒有足夠的內容，而且要大規模製作他們需要的優質內容，成本太高。

And so maybe YouTube or maybe the UGC economy is a place they look not to create their competitor, but as a lower cost way to add content to their services.

是以，YouTube 或 UGC 經濟可能不是他們的競爭對手，而是他們為自己的服務添加內容的低成本途徑。

The magic of YouTube is the ability to have all of these types of content and all of these business models side by side in one place because we originated from the creator ecosystem.

YouTube 的神奇之處在於能夠將所有這些類型的內容和所有這些商業模式並列在一個地方，因為我們源自創作者生態系統。