Video on Facebook is exploding. YouTube is still the dominant video player in terms of views, estimated to be around 8 billion this year to Facebook's 4 billion. But Facebook outperforms the Google-owned platform on a whole bunch of metrics including growth and interactions, according to data from Socialbakers.
One ad tech CEO previously told Business Insider that Google isn't concerned enough about how Facebook is starting to catch up on the video front.
We put that to Google's VP of global agency sales and services Torrence Boone, who we sat down with on Wednesday at the Cannes Lions advertising festival. He told us Google is "very bullish and confident" that it will remain number one.
First off, he said the two video platforms are very different. That's clear: YouTube is a library of videos where users generally already know what they want to watch (but maybe can discover more content after,) while Facebook videos appear randomly in the feed.
Boone said: "[On YouTube] video is not a bolt on. It's not interrupting the online experience because they are coming to that platform to engage with video."
On the advertising front, Boone said YouTube has what he would argue is the "best and most innovative ad format" in TrueView, the skippable videos where marketers only pay for the ad if the user watches it. Boone told us: "[TrueView] has redefined the way agencies and advertisers think about creativity and marketing effectiveness through online video ... the quality is significantly because of the nature of the platform."
Boone concluded: "For all those reasons we feel very bullish and confident."
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