July 14, 2014
YouTube is talking up Hollywood and independent producers in the hopes of securing financing to fund premium content on the video sharing site, sources “with knowledge of the talks” told Reuters.
Google-owned YouTube has been trying for the past few years to upgrade its site from one with a pile of homemade videos, to one with more sophisticated content in a bid to nab more viewers and advertising dollars.
The sources said the firm is meeting with Hollywood producers to suss out what “kinds of support it could offer its content creators and produce more must-see programming.”
One of Reuters’ sources said YouTube could offer between $1 million and $3 million to produce a series of programs, and could contribute the necessary money to market them as well. Another source said YouTube was interested in videos shorter than 30 minutes in length.
The talks are still just preliminary, the sources said, adding that nothing may come of YouTube’s efforts.
The push by the video–sharing site comes as Yahoo continues to forge ahead with its own premium content offerings.
Yahoo, is planning a Web-based video platform which has been described as a more elite version of YouTube with only high-quality and popular video content that will be selected and approved by Yahoo itself.
Yahoo’s plan received a major boost earlier this month with the news ‘Community,’ a sitcom about community college, had been rescued from cancellation by the Marissa Mayer-led Internet firm.
The show, cancelled by NBC, will be back for its sixth season on Yahoo, thrilling fans and giving Mayer the boost she needs to get the ball rolling with her plans to give YouTube — not to mention Netflix, Amazon and Hulu — a run for their money.
As Amazon Netflix, Google and Yahoo jostle for viewers, it will be interesting to see if the underdogs, in this case Google and Yahoo, have a chance to give the big boys a run for their money.
Jennifer Cowan is the Managing Editor for SiteProNews.