Some companies and newsrooms have not yet tapped into embracing user generated content (UGC) for their benefit.
To these organizations, we urge you to take a few moments to look at these statistics:
- 360 billion pieces of content is shared on Facebook in one year
- 3 billion+ photos are uploaded to Facebook per month
- 3000+ photos are uploaded to Flickr per minute
- 35 hours of footage, per minute, are uploaded to YouTube
Additionally, look at the profit such companies are receiving:
- YouTube makes a profit of $945 million per year
- Facebook makes a profit of $1.860 billion per year
- Twitter makes a profit of $45 million per year
So, the real question that remains, is why aren’t companies taking advantage of owning their content? Why are they allowing platforms such as Facebook, Flickr, YouTube and Twitter to take their photos and videos, for free, and turn over a profit? Wouldn’t it be the smart move for companies and newsrooms to embrace the user generated content and really hone in on this profit that is currently just lying out there?