YouTube Reportedly Cancelling Plans for Original Premium Content
Ron Perillo / 9 months ago
Casualty of the Streaming Platform Arms Race
YouTube is apparently giving up on producing more original premium content according to Bloomberg. The company has a slew of original shows such as Cobra Kai, and Origin. However, they have been struggling to compete with the likes of Netflix, Amazon and soon Disney as well as Apple.
Now according to the report, they have stopped accepting pitches and ideas for future shows. Furthermore, the sci-fi drama “Origin”, as well as the comedy “Overthinking with Kat & June” receive cancellation notices. Cobra Kai, the most popular show on the platform is currently in negotiations for a third season.
There are also rumours that Head of Programming Executive Susanne Daniels is moving on from the company. Although she denies this via Bloomberg, saying that she is “committed to YouTube“. Adding that she can’t wait to unveil their “robust slate of new and returning originals.”
What Will Happen to YouTube Premium Now?
YouTube Premium (formerly YouTube Red) will continue on, but will re-focus their efforts to a different direction. Google made $15 billion in sales last year, giving them cache to invest in original programing. However, they are not seeing positive returns on the big budget TV shows and movies they have invested in.
YouTube Red is still alive, but its focus is strictly on music. Which are by far the most popular videos on the main streaming platform. The company will be directing more of their investments here, including commissioning more music related documentaries and shows.
As for the former Premium content, they will still continue on but will be available for free on the main site alongside vlogs, unboxings and other user publicly uploaded videos. While they are not making any money from getting subscribers, these free videos are still earning revenue through ads.