YouTube takes on TV with 60 new channels
This time last year we brought news of YouTube launching its own TV style channels, funded by it’s advertising revenue. Now, the streaming giant is raking in more than US$2bn in advertising from its channels – which is why it’s making 60 more.
Sure TV might make a whopping US$60bn a year, but a lot of that goes into people’s pockets. YouTube is still hungry to compete so its profits are going straight back into creating videos. According to the Wall Street Journal the 60 new channels will launch in Europe and the US with money being thrown at the likes of Jamie Oliver, Michael Cera, and artists like Jay Z on Mountain View.
Since YouTube has just spent US$200m on simply marketing its new channels we shudder on behalf of TV to think about the amount these 60 new channels, added to the 100 already out, are receiving. Budding film director? Looks like you know who to call for funding then.