YouTube is 5 years old!

YouTube turned 5 this week – Happy Birthday!

Formed by three former PayPal employees in February 2005 –  Chad Hurley, Steve Chen and Javed Karim registered the site’s domain name with the intention of “creating a place where anyone with a video camera and an internet connection could share a story with the world.” The site’s ability to display and share video clips, uploaded by anyone for everyone, made it an instant global attraction. By the summer of 2006, more than 65,000 videos were being posted each day.

Figures from UKOM reveal that 16.9 million people, or 43% of Britain’s internet users, accessed the video-sharing site last month. This represents more than 150% growth in the UK since January 2007. During this time, YouTube has also doubled the size of its global impact to half (47%) of the entire online population, according to UKOM.

Hurley, in a statement this week, said: “When we registered the YouTube domain on 14 February 2005, we set out to create a place where anyone with a video camera and an internet connection could share a story with the world. “Five years into it, we’re as committed as ever to the core beliefs and principles that guided YouTube’s creation.”

In the UK media agencies have been using this success of YouTube for their clients, a memorable example last year was the T-Mobile campaign ‘Dance’ produced by Saatchi & Saatchi. This attracted more than 17.6 million views.

“The internet evolves at break-neck speed,” writes Chad Hurley, chief executive of YouTube. “We launch products quickly and constantly iterate to stay one step ahead of it. Our goal? To set the standard in online video delivery.”

“Fast loading, high quality videos need to be able to play on any device, anywhere, anytime. And whether we’re supporting 1080p, 3D, or deploying auto-speech recognition technology, we innovate with an eye toward providing the best possible experience for all of you,” he concludes.

Despite it’s success YouTube is yet to turn a profit and is currently trying to reposition itself by hosting premium content. Lets see what 2010 has in store.

You can read the official YouTube blog here

What have been your favourite YouTube videos over the last 5 years?