YouTube in funding talks to boost content
LOS ANGELES - Reuters
YouTube may offer between $1 million and $3 million to produce a series of programs.YouTube has embarked on a new round of discussions with Hollywood and independent producers to fund premium content, two sources with knowledge of the talks told Reuters, a move that could bolster a three-year-old multimillion-dollar effort that has had mixed success so far.
The talks underscore Google Inc’s desire to complete YouTube’s transition from a repository for grainy home videos to a site sporting the more polished content crucial to securing higher-priced advertising.
Over the past two months, YouTube executives have begun making the rounds, talking to Hollywood producers to explore the kinds of support it could offer its content creators and produce more must-see programming, according to the two people.
One of the two people said the site may offer between $1 million and $3 million to produce a series of programs, and might contribute marketing funds as well. The second person said the site was interested in videos shorter than the 30-minute, TV network-quality Web shows that Amazon.com Inc and other online sites have recently funded.