- General
- March 25, 2019
- 5 minutes read
YouTube Said To Cancel Plans For Scripted Shows
YouTube CEO Susan Wojcicki image: Jolanda Flubacher / World Economic Forum According to a Bloomberg report, YouTube has axed plans for…
 |
| YouTube CEO Susan Wojcicki
image: Jolanda Flubacher / World Economic Forum
|
According to a Bloomberg report, YouTube has axed plans for high-end Hollywood dramas and comedies, bowing out of competition with the likes of Netflix and Amazon. The report says canceled shows include sci-fi drama Origin and comedy Overthinking with Kat & June, citing people with knowledge of the matter.
A pull-back likely reflects high expenses for scripted shows. Even for a tech giant for YouTube parent Google, original shows could cost much amid competition from video streaming leader Netflix and Amazon which have spent billions of dollars on content production and acquisition. In 2018 alone, Netflix spent $8 billion on content and is expected to spend up to $15 billion this year.
 |
| A Google office
image: Google
|
Apple is also getting into the video streaming space, with a service expected for debut soon. It’ll reportedly charge $10 per month for access to channels like HBO, Showtime and Starz. According to Bloomberg’s report, YouTube concluded its money is better invested in music and gaming after generating more than $15 billion in ad revenue last year without a host of original productions.
Such strategy change means all YouTube scripted shows may likely air for free. Bloomberg says the company is still working on release strategies for the shows.
