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Google is planning to spend as much as $100 million to develop original content for YouTube as part of a site redesign around channels based on categories, according to a report published in The Wall Street Journal today that cites unnamed people familiar with the matter.
"YouTube is looking to introduce 20 or so 'premium channels' that would feature 5 to 10 hours of professionally-produced original programming a week," while other channels would be created from existing content on the site, one of the unidentified sources said, according to the story.
The changes will happen over time beginning later this year and could include channels created by Hollywood production companies and directors, the report said.
The news follows reports that Netflix is in talks with Hollywood firms, directors, and actors to create original content as online video sites scramble to compete for viewers who are turning their attention from TV to the Internet for entertainment.
A Google representative was not immediately available for comment.
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"YouTube is looking to introduce 20 or so 'premium channels' that would feature 5 to 10 hours of professionally-produced original programming a week," while other channels would be created from existing content on the site, one of the unidentified sources said, according to the story.
The changes will happen over time beginning later this year and could include channels created by Hollywood production companies and directors, the report said.
The news follows reports that Netflix is in talks with Hollywood firms, directors, and actors to create original content as online video sites scramble to compete for viewers who are turning their attention from TV to the Internet for entertainment.
A Google representative was not immediately available for comment.
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