YouTube No Longer a Competition to Netflix, Amazon; Cancels Expensive Hollywood Shows: Report
Netflix and Amazon Prime Video have managed to emerge as the forces-to-be-reckoned-with in the streaming business, with humongous cash flows being diverted towards original and innovative programming of TV shows and films.
Image: Team TouTube/Twitter
For those expecting high-end Hollywood TV series from YouTube's Premium streaming service, a set back has appeared to come their way. According to a report, YouTube has bowed out of the race with Netflix and Amazon Prime Video, two of America's biggest streaming services. The report also mentions a source saying that the Google-owned business has stopped accepting pitches for expensive scripted shows.
It is being said that the programs that will terminate their tie-up with YouTube include sci-fi drama Origin and the comedy series Overthinking with Kat & June. The disassociation will force the producers to look for alliance partners in other streaming services that can afford the high production, studio and advertising costs that accompany Hollywood productions.
In another news, Apple Inc will announce its much-awaited entry into the highly saturated video-on-demand sector on Monday in the much anticipated "Its Show Time" event. It has been extensively reported that Apple is leaving no stone unturned to present itself as a major in the streaming service business, with shows in association with Hollywood veterans like Steven Spielberg, M Night Shyamalan, Reese Witherspoon, Jennifer Aniston, Octavia Spencer, Charlie Day, Rob McElhenney, among others lined up.
Production and sustenance of TV shows is an uphill task, where players that have the gall for it manage to stay in the game, while others are rooted out in no time. Netflix and Amazon have managed to emerge as the forces-to-be-reckoned-with in the business, with humongous cash flows being diverted towards original and innovative programming (TV shows and films).
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