Larry Page, Chief Executive of Google, has appointed Susan Wojcicki new Head of YouTube, replacing Salar Kamangar, in an effort to increase profits generated from the most popular video portal in the world.
According to the article on Reuters, Google has not revealed YouTube’s financial results; however analysts claim that video ads and promotions generate several billions of dollars annually.
“It’s one of the biggest traffic sources on the Internet, so it makes sense to want to try to monetize the best they can,” said Kerry Rice, Needham & Co analyst.
Former Senior Vice President of Ads and Commerce with Sridhar Ramaswamy, Wojcicki has been with Google from the very beginning when Larry Page and co-founder Sergey Brin started the company in the garage of Wojcicki’s home in Menlo Park, California, in September 1998. Since then, she has been part of the so-called “L” team, Page’s inner circle of top managers.
Ms Wojcicki’s appointment is effective immediately, but the company did not reveal what is in store for Salar Kamangar. Sources say that he is to remain at Google and assume a much greater role.
“Like Salar, Susan has a healthy disregard for the impossible and is excited about improving YouTube in ways that people will love,” said Larry Page in a statement.
YouTube has great plans for the future, starting with adding professional-grade video programs to the massive archive of amateur, home-shot videos in order to get a bigger chunk of the estimated $70 billion in spending on U.S. television ads.