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YouTube is looking to take on Netflix, Hulu, and Amazon’s Prime Video by securing rights to stream TV shows and movies, according to a report by The Wall Street Journal late Wednesday.
“Netflix, Amazon and Hulu license many older movies and TV series that have already run elsewhere, while YouTube is focusing on new material,” the WSJ wrote.
YouTube is increasingly keen to move away from ad-supported revenue to more premium subscription models, like its recently launched music streaming service, YouTube Music, and its new $9.99/month ad-free experience, called YouTube Red.
That may be partly because subscription-based revenue from such services is expected to surpass ad-supported services by 2020, according to research cited by the WSJ. YouTube, meanwhile, has already announced original content exclusively for Red subscribers.
“The shows or movies may be streamed exclusively on YouTube Red, or could be released through traditional channels like movie theaters, cable networks and DVDs alongside the YouTube subscription service,” the WSJ wrote.
“YouTube is still deciding how much content to license, but it is eager to have a robust collection of original programming and licensed programming in 2016 and beyond.”
Watch this space.
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