Hot on the heels of Apple’s announcement of paid, monthly subscription services for exclusive videos, games, and news, YouTube has come with an announcement of its own. According to a report by TechCrunch, YouTube is planning to double its video content.
Google also denied a Bloomberg report that YouTube has stopped pitching for scripted shows. This latest news comes just after Apple’s launch of Apple TV+ which is being touted as the next big thing and has got everyone excited because of the big name content available on the platform. While Google denied one part of the Bloomberg report, it confirmed the other part of the same report which says that now YouTube will concentrate more on the paid subscriptions by introducing an ad-supported slate that will include new and existing series in the coming weeks.
Reports about YouTube’s changing strategies have been doing the rounds for quite some time and for now it seems that the latest strategy will exist side by side YouTube Premium, its $11.99 ad-free subscription service that provides access to YouTube Music and original video content and films.
This latest move makes it clear that Google is looking at different ways to stay ahead of the curve in the space streamed video which is getting crowded day by day and if you don’t change with the changing times there’s every chance that you will be left behind. Most of the biggest players in this space are spending big time to stay ahead of others and Netflix alone is estimated to be putting some $15 billion into its own slate this year. $15 million is also the revenue generated by YouTube last year.
YouTube is easily Google’s best offering in the world of social media and it has been trying hard to find the best way to leverage the YouTube’s audience and platform that has been built around user-generated content into a platform that can also be seen as a home for more high quality video content and provide a one-stop shop for everything when other players in the space are providing services that can lure viewers away and make a dent in YouTube’s popularity.