Google has played down the challenge posed to its YouTube business by Facebook's aggressive push into online video, with the U.S. search giant's U.K. head telling CNBC it is "comfortable" with its position when it comes to generating advertising revenue.
Facebook has been making major moves in the video space to capture lucrative ad dollars. On Tuesday, the social networking giant announced it was testing a dedicated video feed where users can scroll through and discover new content. It also introduced a feature which lets celebrities live stream content onto the platform and announced a model where it is offering to split revenues gained from adverts sold around original content producers' videos.
The Facebook move was designed to attract more original content creators -- the main contributing factor to YouTube's success.