Google's Schmidt

YouTube's goal is to secure as much licensed content as possible while creating an ad model to monetize that content, Google CEO Eric Schmidt told an investor conference in San Francisco on Monday, MediaPost reports.

Schmidt said media companies can still profit from users' viewing content on YouTube instead of the company's website: "You can monetize them, you can get them excited, you can sell things to them," Schmidt said.

Schmidt also said he believes that despite the reluctance by some media companies to move content online the internet will soon catch up to television as an advertising medium.

"Monetizable viewing habits on the internet should catch up with those on television," he said.