Google??™s CEO says the company still hasn??™t figured out how to make money from YouTube. In an interview with The New Yorker, Eric Schmidt said Google hasn??™t yet monetized the millions of video views daily from YouTube, but added that the company isn??™t in that big of a hurry. ???We have the luxury of time,??? Schmidt said.
Two years ago, Google paid $1.65 billion for the world??™s most popular online video site. According to Schmidt, it was ???obvious??? that Google could make ???significant??? amounts of money from YouTube, but so far that hasn??™t happened just yet. Google recently added in-video ads that appear briefly along the bottom (like a news broadcast lower-third). Viewers can click on these ads and be taken to another site.
In the same interview, Schmidt denied Google was monopolizing the ad space and gave credit to Yahoo which excels in display-based ads.