Alphabet Inc (GOOGL) Not Concerned About Facebook's New YouTube Competitor

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GOOGL – YouTube CEO Susan Wojcicki says Facebook should “get back to baby pictures.”.

YouTube, the video streaming giant owned by Alphabet Inc (NASDAQ:GOOGL), doesn’t seem scared one bit by Facebook’s recent foray into online video.

In fact, as CNBC reports, the head of YouTube made a very cheeky comment recently about Facebook’s chances of really competing in the space:

Facebook should ditch its video ambitions and “get back to baby pictures and sharing,” YouTube CEO Susan Wojcicki quipped on stage Tuesday night.

Wojcicki fielded a question on increasing competition from Facebook during Recode’s Code Media conference outside Los Angeles.

The social network has been beefing up its video offering in what sources have described to CNBC as a more direct assault on YouTube.

Dubbed Facebook Watch, the social network’s new video tab contains a mix of professionally produced and user-generated video content. Facebook is still trying to figure out the right formula for its streaming video efforts, with a number of scripted TV series already having been tried and subsequently canceled.

“I mean you always have to take your competitors seriously, but you don’t win by looking backwards and looking around,” Wojcicki added. She said she doesn’t know much about what else Facebook has planned on the video front, aside from what’s already being reported in the media.

Alphabet Inc shares fell $2.15 (-0.20%) in premarket trading Tuesday. Year-to-date, GOOGL has declined -0.09%, versus a -1.05% rise in the benchmark S&P 500 index during the same period.

GOOGL currently has a POWR Rating of B (Buy), and is ranked #3 of 50 stocks in the Internet category.

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