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The video platform's latest innovation: A new YouTube store

The video platform's latest innovation: A new YouTube store

According to a recent study about social networks, it has been reported that the YouTube platform is widely preferred by young people and is on a par with Instagram and TikTok.

The video platform's latest innovation: A new YouTube store

According to the Pew Research Center, the percentage of American teens between the ages of 13 and 17 who say they use Facebook has dropped from 71% in 2014 to just 32% this year. But let's stop a bit on YouTube and its innovations.

The video platform's latest innovation: A new YouTube store

Alphabet Inc's YouTube platform is planning to launch an online store for video streaming services. The company is in talks with other companies about participating in the platform, which it refers to internally as a "channel store," the report said, citing sources close to the recent discussions. The platform has been in the works for at least 18 months and could be available as early as fall, the report added.

The video platform's latest innovation: A new YouTube store

This new service will enable YouTube to join the likes of Roku Inc and Apple in a bid to gain a share of the already crowded market. Earlier this week, the New York Times reported that Walmart Inc. has held talks with media companies about including streaming in the membership service.

The video platform's latest innovation: A new YouTube store

We also recall that YouTube wants to quickly increase the number of short videos "Shorts" available on its platform, in order to better compete with TikTok. To help with this effort, the company is rolling out a new tool that turns existing YouTube videos into Short in seconds. The update, available now in the YouTube app, allows a video creator to easily select a segment of any video they've previously uploaded, then publish that clip as YouTube Shorts content.

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