According to a new set of statistics revealed by YouTube, the video streaming company announced that it experiences more than 6 billion hours of video streaming each month.

Over the years, YouTube has become one of the most popular video streaming sites on the Internet. Addressing a much hyped debate on the battle between YouTube and the TV, Google Executive Chairman Eric Schmidt stated that the battle is already over and YouTube has been declared the winner.

YouTube announced Wednesday that over the last few months it has had more than 6 billion hours of video streaming each month. It also boasted 1 billion unique monthly viewers and said that 1 in every two people use YouTube to search for video content, makings its membership as large as the third most populated country, after China and India.

It is also the most frequently used search query site, coming second only to Google and according to experts could pose a major threat to Facebook which in current times is known as the largest social networking site.

"It's not a replacement for something that we know," said Schmidt talking about the video streaming website. "It's a new thing that we have to think about, to program, to curate and build new platforms."

"I thought that YouTube was like TV, but it isn't. I was wrong," said Robert Kyncl, YouTube's global head of content. "TV is one-way. YouTube talks back."