They are quickly losing that monopoly to TikTok. It's only a matter of time. TicTok has added 10 minute videos. When they add 1hr videos it will mostly be the end of YouTube's monopoly
Which, FWIW, they got there by being the only player. It's interesting that no one else has really tried until TikTok
Source? All I've heard about TikTok is that it barely pays out at all so content creators mostly sees it as a way to get eyeballs on things that do generate money, like their youtube channels.
TikTok is eating the lunch of YouTube, Instagram and Facebook & expanding content by attracting higher quality creators. They're even expanding into shopping. At one point, YouTube only had random videos or pirated shows.
Tim Tok has been struggling with a massive problem where many creators that actually start to get big on the platform end up migrating to YouTube anyway because their pay sucks compared to YouTube, the same goes for instagram and every other platform in the industry. Youtube has a lot of problems but nobody pays better than them https://youtu.be/jAZapFzpP64?si=KrLqetuhzmer2T8H
Which, FWIW, they got there by being the only player. It's interesting that no one else has really tried until TikTok