Eric Schmidt: Google still not able to monetize YouTube

Eric Schmidt: Google still not able to monetize YouTube

Google acquired video sharing service YouTube in 2006.

The video sharing market has exploded since then and YouTube remains the market leader.

However, there is one little problem. Google is unable to monetize the service to generate revenues from it.

Google CEO Eric Schmidt admitted in a statement that it “seemed obvious” that YouTube has to generate “significant amounts of money” for Google but it is still a work in progress.

He added that the company knows that YouTube is hugely popular and they have the time to get it right.

Schmidt further said: “The goal of the company isn’t to monetize everything. The goal is to change the world. We start from the perspective of what problems we do have.”