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YouTube's Create app: A TikTok killer in the making?

Different, YKK, World Leaders, Second-hand EVs, and Psychology in Advertising

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Peeyush Jain & Mohit Garg
March 06, 2024

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Salutations, Olio aficionados! 👋

Happy Hump Day and welcome to the 68th edition of Weekly Olio - your trusty source for giggles, wisdom, and a dash of intrigue courtesy of our tantalizing thought piece (yes, buckle up for Publisher's Parmesan). 🧀

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The Quote󠀢 💭

“The four most dangerous words in the English language are ‘this time it’s different’.”

― Sir John Templeton

The Tweet 🐦

Did you know that more than 50% of zippers in the world are made by a single Japanese company? YKK has cornered more than 40% of the global market for zippers and a staggering 90% of the Japanese market by value. Even Neil Armstrong’s suit when he was on the moon was kept together by a YKK zipper. Interesting thread on an object all of us use daily.

The Infographic 💹

With two of the world’s largest democracies slated for general elections later this year, this chart couldn’t be more pertinent. While PM Modi continues to enjoy massive popularity, Joe Biden seems to slipping.

The Short Read 📝

The transition from IC engines to EVs is shaping the market for used cars in new ways. Average prices for second hand EVs have fallen around 23% in the UK in the last 12 months on a like for like basis. While this is great for potential buyers, it dents profits for fleet owners and makes new leases super expensive.

EVs are expected to continue losing value faster than IC vehicles. In some cases, used EVs are cheaper than their IC counterparts - even though they may have cost a lot more when new. The glut of second hand EVs is likely to worsen as global fleet owners like Hertz dump cars due to high depreciation and maintenance costs. Will this impact the booming demand for electric vehicles? Only time will tell.

The Long Read 📜

Fracking Eyeballs - by D. Graham Burnett

D. Graham Burnett is an American historian of science and a writer. He is a professor at Princeton University and an editor at Cabinet, based in Brooklyn, New York.

The article discusses the intersection of psychology and advertising in the early 20th century. It delves into how human attention, particularly through the eyes, was measured and monetized. The article highlights an experiment conducted by Howard K. Nixon, a Ph.D. in psychology at Columbia University, who used a unique setup to measure which advertisements held people's attention and for how long. The article also explores the close connections between laboratory psychology and the early life of our eyeball-focused economy.

This edition of Publisher’s Parmesan is brought to you by Levy.

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Publisher’s Parmesan 🧀

YouTube's Create app: A TikTok killer in the making?

YouTube is not one to shy away from a challenge. The video-sharing giant has been dominating the online video space for over 15 years, but it is not resting on its laurels. It is constantly innovating and experimenting with new features and formats to keep its users and creators engaged and happy.

One of its latest ventures is YouTube Create, a standalone mobile app that aims to compete with TikTok, the viral sensation that has taken the world by storm with its short-form videos and creative tools. YouTube Create, which was announced at the Made on YouTube event in September 2023, is a video editor that helps creators produce both Shorts and longer videos on the go.

What is YouTube Create?

YouTube Create is a video editing app that offers a suite of free tools that allow users to upload clips, split and trim videos, use effects, and access royalty-free music. The app also syncs the beats of the song to the video clips, similar to TikTok. Additionally, the app has a voiceover tool that includes automatic and editable captions, and an audio cleanup tool that reduces background noise and enhances audio quality.

YouTube Create is designed to make video creation easy and fun, even for beginners. It is also meant to attract more users and creators to YouTube, especially those who are more familiar with TikTok and other short-video platforms. YouTube hopes that by offering a similar or better experience than TikTok, it can lure them to its own ecosystem, where they can also enjoy longer videos and monetization opportunities.

How does YouTube Create work?

To use YouTube Create, users need to download the app from the Google Play Store and sign in with their YouTube account. The app will then show a home screen with three tabs: Create, Library, and Profile. The Create tab allows users to start a new project, either by recording a video with the app's camera or by importing a video from their device. The Library tab shows the user's existing projects, both saved and published. The Profile tab shows the user's YouTube channel information and settings.

Once the user selects or records a video, they can edit it using the app's tools. They can split and trim the video, add filters and effects, adjust the speed and volume, and choose a song from the app's music library. The app also automatically adds captions to the video, which can be edited or turned off. The user can also record a voiceover for the video, and use the audio cleanup tool to improve the sound quality.

After editing the video, the user can preview it and then publish it to their YouTube channel. The app allows the user to choose the video title, description, tags, category, privacy, and thumbnail. The user can also select whether the video is a Short or a longer video, and whether it is eligible for monetization. The app also shows the estimated upload time and the video quality.

Where is YouTube Create available?

YouTube Create was initially launched in beta for Android users in the U.S. and a handful of other countries, including Germany, France, U.K., India, Indonesia, South Korea, and Singapore. But as of February 28, 2024, the app has expanded to 13 more markets, including Argentina, Australia, Brazil, Canada, Finland, Hong Kong, Ireland, Netherlands, New Zealand, Spain, Taiwan, Thailand, and Turkey. This brings the total number of countries where the app is available to 21.

The expansion of YouTube Create is a clear sign of YouTube's confidence and ambition in the short-video space, which is growing rapidly both in India and globally. According to a report by App Annie, TikTok was the most downloaded app in 2020, surpassing Facebook, WhatsApp, and Instagram. TikTok also had the highest average time spent per user among the top social apps in 2020, at 21.5 hours per month.

Why is YouTube Create important?

YouTube Create is YouTube's attempt to challenge TikTok's dominance and appeal to the younger generation of users, who are more inclined to watch and create short-form videos. YouTube Create also leverages YouTube's existing features and integrations, such as YouTube Shorts, YouTube Music, YouTube Studio, and YouTube Analytics, to provide a seamless and comprehensive video platform.

YouTube Create is also a way for YouTube to empower and reward its creators, by giving them more tools and options to express themselves and reach their audiences. YouTube also offers various monetization programs, such as YouTube Partner Program, YouTube Premium, YouTube Music, YouTube TV, and YouTube Super Chat, which enable creators to earn money from their videos.

YouTube Create is YouTube's latest weapon in its arsenal to compete with TikTok and other short-video platforms. It is also YouTube's way of showing that it is not afraid to innovate and experiment with new formats and features, to keep up with the changing trends and preferences of its users and creators.

YouTube Create is a TikTok killer in the making, or at least, that's what YouTube hopes. Whether it succeeds or not, only time will tell. But one thing is certain: YouTube is not giving up without a fight.

Olio Jobs 💼

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