YouTube has revealed that it streams over two billion videos a day as it pitches content providers that it can offer “TV-size audiences.” You Tube owner Google has struggled with monetising the site but said last year that it would be “very profitable … in the not too distant future.” No financial details are provided but Barclays Capital has estimated that YouTube would contribute to Google's earnings this year, and forecast revenues of $700 million for the video site.

Hunter Walk, YouTube's director of product management said its business model had “caught up with the consumer phenomenon” and was set to develop into a diverse product capable of paying “billions of dollars” to growing numbers of professional content partners. With more than a thousand professional content partners, “it's going to start to look like the cable TV networks of the 70s, 80s and 90s”, Walk added.

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