Founder of YouTube still has Big Plans for the Service

YouTube is proving its worth as a one-stop online video site, as it now boasts more than two billion views every day.  These latest figures come as the site celebrates its fifth anniversary, which also involved the launch of a new channel.

YouTube 5 Year Channel amalgamates a series of clips from people all over the globe, sharing stories on how the website has had an impact on their lives.

Speaking to BBC News, co-founder Chad Hurley commented: "I see this great growth opportunity in the online video market and we are positioning ourselves to be a leader."  He noted that although two billion views a day is a staggering figure, users generally only spend around 15 minutes watching online content, compared to five hours watching TV.

Mr Hurley continued: "We were mostly trying to create a video solution for ourselves based on our own frustrations.   "We are proud of what we have achieved so far but we have a lot of work ahead."

A recent study from BrightRoll found that 56 per cent of respondents stated that they view online video marketing as either more effective or much more effective than other forms of advertising.