YouTube CEO: Our 'watch time' is growing 50% year-on-year

ASPEN, Colo.--Although YouTube has a growing number of innovative competitors, CEO Susan Wojcicki says that she isn't worried as long as YouTube is growing and users are engaged. Specifically, she noted that YouTube users, which now top 1 billion globally, are growing 50 percent year-on-year.

"We are seeing acceleration. We have very significant opportunity ahead," Wojcicki said while speaking at the Fortune Brainstorm Tech conference here. "We have large base, hundreds of millions of users and acceleration in watch time is key."

Wojcicki was cagey about revealing any specific revenue or profit figures about her Google (NASDAQ: GOOG)-owned company--Google doesn't break out YouTube metrics in its quarterly earnings reports--but she did note that YouTube's biggest priority right now is mobile and that 50 percent of YouTube's traffic is over mobile devices.

Interestingly, Wojcicki said that YouTube wants its users to engage and not just channel surf and that's why she considers "watch time" to be such a compelling metric.

She also mentioned the "intensity of the relationship" between the content creators and the viewers as a key win for YouTube because it helps keep viewers engaged with YouTube. And because of that relationship she isn't concerned about not having exclusivity with those creators because most viewers believe YouTube is their home and they look for their creators on YouTube. "YouTube is where the fans are. They know the medium and it is where they are connecting with their audiences."

Wojcicki also touched on YouTube's new music service, Music Key, which is currently in beta mode with plans to commercially launch later this year. She said that she doesn't see Music Key as a competitor with Apple or Spotify because the service has music videos. "We are different, we have a different purpose," she noted.

Regarding potential acquisitions, Wojcicki said that the company will acquire others if it sees a company that it believes it needs to acquire. "This is a big market. We have a great product with 1 billion plus users and we are growing."

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