2012 is going to be a fantastic year for online video. We’ll see it come to even more devices and hit TV screens in a big way.
Xbox has declared its desire to own the living room, Netflix will launch UK operations of their content streaming business and we're due to see the launch of YouView.
Online video in the US already accounts for 50% of internet bandwidth. Don't be surprised if the UK catches up quickly.
At YouTube, we have re-engineered the site to make it easier for users to find content and follow the channels that they love.
Anyone who has played with the fresh new design will recognise the intuitive nature of channel subscriptions.
Content owners have always struggled with the challenge of surfacing new material from the 48 hours of video uploaded every minute to YouTube.
The new subscriptions will allow content owners to build loyal audiences who return more regularly.
This is likely to help YouTube shift from being seen as a site to being seen as a platform.
Now content creators will be able to drop daily updates into users' feeds for their consumption on whatever device, whether XBox, mobile or desktop.
Crucially the potential for creative businesses is unbounded.
Jamal Edwards, whose YouTube channel SBTV is approaching 100m requested views, has become famous for his contribution to the UK music scene.
As the economics of online video become enhanced there are likely to be many more creators like Jamal building online content businesses targeting loyal clusters of viewers.
It’s clear to everyone that online video is going to be big, but I think online video will prove to be thrillingly creative.