The video sharing site is the third most popular social media platform in Millionaire households
YouTube is the third most-used social media platform behind Facebook and LinkedIn, according to a second quarter social media study of Millionaire households conducted by Millionaire Corner.
Nearly one-quarter (23 percent) use YouTube, compared with 31 percent who frequent the professional networking site LinkedIn and the 56 percent who use Facebook. Only eight percent of Millionaire households use Twitter. Fewer use Google + (6 percent) and Pinterest (5 percent), but these comparatively newer social media platforms are rapidly establishing themselves on the social media landscape
Not surprisingly, younger Millionaires under the age of 45 are the most frequent users of social media. Nearly half (48 percent) visit YouTube, second only to Facebook (78 percent).
YouTube, the video sharing website, has come a long way since its innocuous inaugural video, “Me at the Zoo,” posted on April 23, 2005. Videos that go viral continue to experience their 15 minutes of fame, but a new Pew Research Center Project for Excellence in Journalism report finds that a journalistic 'dialogue' is evolving on YouTube between individuals and news organizations.
An immediate, horrific example: Less than 12 hours after the tragic shooting at the Aurora, Colorado multiplex during a midnight screening of The Dark Knight Rises, there were several videos about the massacre posted on the site by professional news organizations (not to mention individuals with their own bizarre theories about the cause of the rampage).
Among the key findings of the study:
The most popular, or most-watched YouTube news videos tended to capture natural disasters or political upheaval and featured “intense visuals.” In the week following the Japanese earthquake and tsunami in March 2011, the 20 most-viewed news-related videos on YouTube focused on the tragedy, and were viewed more than 96 million times.
At any moment, breaking news can outpace even the most popular entertainment videos. In 2011, news events were the most searched-for item on YouTube in four months out of 12, according to company data.
Individuals play a substantial role in supplying and producing footage. More than a third of the most-watched videos (39 percent) were produced by individuals. More than half (51 percent) bore the logo of a news organization, though some of that footage, too, appeared to be originally shot by on-scene witnesses rather than journalists.
Individuals are also responsible for posting many of the videos originally produced by professional news outlets. Thirty-nine percent of professionally-produced news pieces were posted by users.
The most popular news videos are a mix of edited and raw footage.
Personalities are not a main driver of the top news videos.
One curious finding of our social media study is that YouTube is watched most in Ultra High Net Worth households with a net worth between $5 million and $24.9 million (27 percent) compared with Mass Affluent households (24 percent) and Millionaire households (23 percent). Social media is typically embraced by a younger demographic, and the Ultra High Net Worth tend to be older.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.