I can't check my favorite news sources anymore without being subjected to yet another clever and innovative way Facebook is making advances into the online video space, a domain over which we always assumed YouTube would hold sway.

Every few days, there's a new announcement from Team Zuckerberg indicating Facebook is making serious advancements towards some unstated goal of making video, from whatever wellspring, a seamless component of the social media experience.

This month, we've seen reports that Facebook will finally share ad revenue with video content creators (a tactic YouTube's been employing successfully for years), that Facebook is experimenting with a detachable video player that lets users liberate embedded videos from their timelines and position anywhere on their screen, and that Facebook is secretly working on a music video streaming service that's going to be a Spotify app killer.

That's a lot of development in a short time—and they're significant initiatives that we marketers need to take note of.

Enough Room in the Video Space for Everyone... Maybe

YouTube has taken notice, too.

YouTube CEO, Susan Wojcicki, played it cool, calm and collected when she engaged in an on-stage Q&A session at Fortune's recent Brainstorm Tech conference. Claiming video views on YouTube are "different," she argued that the online video space is so enormous and so quickly growing that there's room enough for all comers.

Competitors like Facebook, Wojcicki mused, were only doing what any smart business would do in trying to claim a piece of the pie. It didn't bother YouTube. The company is secure, she affirmed, in its ability to focus on what it needs to get done and ensure its position as the market's top player.

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image of Nicole Larraui

Nicole Larrauri is managing partner of The EGC Group, one of the New York metropolitan area's fastest growing marketing and digital agencies.

Linkedin: Nicole Larraui 

Twitter: @nicole_larraui