YouTube Reportedly Plans to Spend 'Hundreds of Millions' on Originals
As the race for creating original programming continues between the likes of Netflix, Facebook and [...]
As the race for creating original programming continues between the likes of Netflix, Facebook and Amazon Prime, YouTube is reportedly hitting the pause button on its YouTube Red venture.
According to Bloomberg, Google is holding its video wing's spending budget on original programming at a a few hundred million for the next two years.
"YouTube plans to spend a few hundred million dollars on TV shows and movies this year, said the people, who asked not to be identified discussing the company's plans," the site reports. "While that sounds like a lot, a flat budget means the company risks falling further behind Netflix and Amazon."
The video hosting site is plans to expand its live TV service's reach during that time, but Bloomberg says Google is taking a "wait and see" approach with its investment.
"YouTube Originals are a driving force for YouTube Red, and we have a full slate of Originals already planned for 2018 and 2019," YouTube's chief business officer Robert Kyncl said in a statement. "While we don't comment on speculation regarding our budgets, you'll see us continue to invest heavily in original programming as we ramp up our overall efforts to promote YouTube Red over the next year."
The site's paid service originally debuted as Music Key back in 2014 as a partnership with Google Play music, but was rebooted as YouTube Red in 2015 with popular YouTube personalities creating exclusive content and shows for the service.
The service hasn't been without its controversies. Swedish vlogger Felix "Pewdiepie" Kjellberg had his series yanked back in February 2017 after posting anti-semetic jokes on his personal YouTube channel. The same happened to prankster Logan Paul back in January after posting a video of a suicide victim hanging from a noose inside Japan's infamous suicide forest.
Series recently produced by the service include Step Up: High Water, I'm Poppy, Fruit Ninja: Frenzy Force, Ultimate Expedition, Lazer Team 2 and Demi Lovator Simply Complicated.
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