YouTube videos and information cascades
The number of views a video on YouTube receives relates to the topic of information cascades. When a user goes to YouTube, they are provided with some information about a given video, including the title, a description, and a thumbnail preview. Using this signal, a user evaluates whether they think they will enjoy the video and can decide to watch or to look for another video. The viewer also receives information about the decision of previous users. YouTube videos also list the number of views it has received. Users take the previous users decisions into account when making their decision. Videos with high view counts receive more additional views than videos with low view counts. A user may decide to watch a video solely because it has a high view count and may disregard the other information provided about the video (title, etc). This creates an information cascade. This cascade effect has lead to the unequal view counts of YouTube videos. According to this article, a 2007 study found that the top 20% of videos received more than half of all views.
Social networks also contribute to the information cascade. Often times when someone enjoys a video, the will post it on Facebook or Google+. Their friends are provided with the video title, description, and thumbnail preview. The friend’s endorsement of the video can act as a signal that the video is good, as well as displaying the decision of a previous viewer. People again must decide whether to watch the video or not. On these social network sites, people are also provided with the decisions of some previous users. If a previous users may comment on the video or like/+1 it to signal their decision. If a person ignores the video information and watches the video because of its popularity, then an information cascade results.