YouTube is big, but it’s probably gonna get a lot bigger over the next few years. The YouTube division of Google just purchased a huge new building by their San Bruno headquarters.
The price was $215 million for the 554,328-square-foot Bayhill Office Center. However, what is interesting about this purchase is YouTube isn’t presently in any of the space. This is why we think YouTube will be expanding because why else would you need a huge new space? Also, the building is currently filled with tenants from large corporations such as Walmart to Oracle. I highly doubt they are doing it for the rent money.
Google has not commented on if or when YouTube will move in at this time. However, online video streaming is more popular than ever and YouTube is one of the biggest players. The problem is YouTube doesn’t make that much money for its size. YouTube is aiming to change that by launching the subscription based YouTube Red, which cost $10 a month for ad-free viewing. There have been estimates that this should bring in an extra $1 billion dollars just this year for YouTube. There have also been reports of YouTube launching a full on Netflix competitor, which would explain the need for such a large building.
Source: Bizjournals
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