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Google to Invest Over £60 million into new Youtube Content

Google has announced its intentions to populate YouTube with £60 million worth of its own original content, which has been made specifically for the web. The announcement comes not too long after the founder of YouTube claimed that he wanted the website to compete directly with broadcast TV for a share of audience viewing time.

To do this the company have already signed deals with Channel 4 and Channel 5 however negotiations with the larger broadcasters, specifically ITV have been held up. This means the website is still seen as a hub for user-generated content, which in turn means that it can’t attract the advertising revenue that is generated by the industry’s bigger players.

This has led to parent company Google pledging £60 million to create content created specifically for the web. They commented “The site is planning a series of changes to its home page to highlight sets of “channels” around topics such as arts and sports. About 20 or so of those channels will feature several hours of professionally produced original programming a week.”

A YouTube spokesman continued “We’re always updating the look and feel of YouTube. Any changes in YouTube’s design would involve lots of research and would be rolled out slowly, over time to ensure the best possible user experience.”