Google's Eric Schmidt says Youtube has already overtaken traditional TV
Google boss Eric Schmidt has declared that the company's video-hosting website Youtube has already displaced TV watching as a medium.
"That's already happened," he said at a media event, when asked if the site could overtake its more traditional competitor.
The executive chairman said: "(Youtube is) not a replacement for something that we know.
"It's a new thing that we have to think about, to program, to curate and build new platforms."
And Schmidt added that the really big viewing figures are still to come - despite YouTube recently claiming an audience of 1 billion unique visitors per month.
"Wait until you get to six or seven billion," he said.
And Robert Kyncl, YouTube's global head of content, said: "I thought that YouTube was like TV, but it isn't. I was wrong. TV is one-way. YouTube talks back."
"TV means reach. YouTube means engagement."