Google-owned YouTube video unit is rolling out 100 channels to compete with cable companies.
Video streaming site YouTube has announced that the creation of 100 online video channels will feature original programming that involves celebrities such as pop singer Madonna, actor Ashton Kutcher, former NBA superstar Shaquille O’Neal and rapper Jay-Z.
The venture, in partnership with Hollywood production companies, online video creators and a number of media companies, will be generating around 25 hours of original programming on the website per day. Some of the channels will launch next year.
“Cable television expanded our viewing possibilities from just a handful of channels to hundreds, and brought us some of the most defining media experiences of the last few decades — think MTV, ESPN and HBO,” read a blog post from YouTube. “Today, the web is bringing us entertainment from an even wider range of talented producers, and many of the defining channels of the next generation are being born, and watched, on YouTube.”
YouTube did not disclose the financial details, but Wall Street Journal reported that they are to give content creators 55 percent of ad revenue, after the site gets back the advances it paid them.
The company said that the first wave of these new original channels will launch next month, and will be available on Internet connected devices, such as Google TV sets, Sony Internet TV sets and Blue-ray players, as well as Logitech Revue TVs.
What do you think of the new YouTube feature?
via: YouTube
Wow, great news!
It is going to be great. It seems like the funding will come from Ad revenue, which would be much better to me than paying subscriptions. Will have to wait and see when they release the content as well as the terms to use it.