The video sharing website has canceled plans for a paid high-end video streaming service with Hollywood production-level comedies and dramas, Bloomberg reports. The Google-owned company has reportedly stopped accepting pitches for such shows and canceled at least two scripted shows already in the pipeline.
While sources did not state an exact reason for YouTube’s withdrawal from its Hollywood ambitions, the high cost of producing original content needed to convince people to subscribe to a paid-for video service—running into the billions of dollars—was too much considering just how much content would be needed for YouTube to have a realistic chance of taking on the video streaming service heavyweights, Netflix and Amazon.
News of YouTube’s abandonment of its high-end originals also comes just hours before Apple is set to introduce their own video streaming service. Apple is expected to announcing its service will include over 20 original shows at launch as well as the ability to subscribe to premium channels to access content from HBO and Showtime.
via Fast Company https://ift.tt/2TUriNh
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