While more and more viewers turn off their TVs in favor of their laptops, tablets or smart phones, YouTube has grown to an average of 1 billion monthly users who stream more than 4 billion hours of content monthly.

In fact, the traditional broadcast TV audience has declined by approximately 50 percent since 2002. Meanwhile, more and more companies are turning their attention to new platforms, such as Google’s YouTube, to pick up the slack and reach their audiences.

While more people still watch TV than YouTube or other online sources, an entirely new audience that consumes all of its entertainment and information through nontraditional TV devise and services is fast emerging. Dubbed the Zero-TV group by Neilson, a media research, audience measurement and ratings system, this group only accounts for 5 percent of U.S. households today, but that number has more than doubled in 6 years.

Want to see the power of YouTube at work? Check out Korean pop star Psy’s Gangnam Style video, the first to receive more than 1 billion views.