YouTube Jumps 24% To 4 Billion Daily Views

(UPDATE) YouTube now streams 4 billion videos daily, a 25% increase in eight months. 60 hours of videos are now uploaded to YouTube every minute vs. 48 hours per minute in May, the company told Rueters.

The increases come at a key time for YouTube. Renewal talks with the major record labels are reportedly going well; and in October the company announced $100 million in deals with original content creators including Madonna and Jay-Z.

The deals are part of an effort to increase time on the site and extend viewing beyond the computer to TV and mobile. The average YouTube user spends about 15 minutes a day on the site vs. an average TV watcher in the U.S. who spends 4-5 hours a day in front of the tube.