YouTube aims to go after the likes of Netflix. After recently launching its own subscription service, the popular online content provider is taking significant steps in its bid to enter the on-demand media streaming business.
The Wall Street Journal reported that YouTube is currently in talks with various studios as it seeks streaming rights for various films and TV programs through its newly launched paid subscription service, YouTube Red.
Originally launched in October, YouTube Red lets users watch videos hosted on Youtube without advertisements. In addition, the service also provides access to Google Play Music, Google's music streaming service, and will also showcase original programming that will be produced by Youtube celebrities.
With this reported move, YouTube is looking at not only expanding the offerings of Youtube Red, but also push the Youtube brand itself beyond its traditional offerings being shared by its user base of millions, a move that will pit the brand and its parent company Google against other streaming service providers such as Hulu, Amazon, and most especially Netflix.
Given the fast growth and fast-changing landscape of online streaming services today, concerns have been raised by analysts on how YouTube will fare in such unfamiliar territory with YouTube Red. Time pointed out that the high costs involved in operating service, the reception of its user base to having more mainstream productions being streamed, and the competitive crowded streaming market should be addressed to ensure the success of YouTube Red.
However, other analysts believe YouTube has what it takes to survive and be a major player in the online streaming service. For one, Youtube has more than a decade of experience in providing video content.
Then there is also its network of producers and creators of mostly original content which could help propel the success of Youtube Red. Forbes itself has noted that good quality original content will be the key differentiator in this market.
Youtube has not made any official statements yet regarding its planned media streaming service for YouTube Red. However, it is expected that an announcement will be forthcoming as soon as the current negotiations have been finalized.
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