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... the Google-owned video-streaming platform is changing the way it ranks these results, and is looking to reward videos that receive the most watched time.
With this in mind, yesterday YouTube also added “Time Watched” reporting to YouTube Analytics, so if you have a penchant for creating videos you can better evaluate the performance of your videos and channel.YouTube ranking video based upon Most Watched Time [thenextweb.com]
It means if you keep viewers around on YouTube longer, you're videos will start ranking better. And the view count is discounted at this point. It doesn't mean trying to come out with a ten-minutes-or-longer video just for the sake of coming out with something longer, you actually have to keep those audiences for a long time throughout the video.