US media and entertainment giant Time Warner and YouTube announced an agreement Wednesday to show clips from news reports, television shows and movies on the popular video-sharing site.
Time Warner and Google-owned YouTube said the clips from Time Warner properties Warner Bros. Entertainment and Turner Broadcasting System would feature advertising with revenue being split between them.
The agreement unveiled Wednesday does not allow YouTube to show complete episodes of television shows or movies, only excerpts, what a statement from Time Warner and YouTube described as "high-quality, short-form content."
The clips will range from CNN news coverage to Cartoon Network and Adult Swim animated shows to TNT dramas to Warner Bros. Television productions like "Gossip Girl" and "The Ellen DeGeneres Show," they said.
"Our agreement with YouTube helps us expand the amount of our promotional content, animation and news that we already make available online," Time Warner chairman and chief executive Jeff Bewkes said.
"Working with YouTube, we expect to improve our ability to monetize this short-form content through new and creative advertising initiatives," he said.
Time Warner's HBO television network already has a channel on YouTube to promote popular shows such as "True Blood" and "Entourage."
The deal with Time Warner is YouTube's latest move to bring more professional content to the site known mainly for its user-contributed amateur videos.
"This partnership with Time Warner will provide our community with some of the most popular video content produced," said YouTube co-founder and chief executive Chad Hurley. "We hope to build on this deal and look forward to a long and productive relationship."
"We want YouTube to be a place where you can find any kind of content you're looking for, from short-form user generated clips to full-length independent films and Hollywood movies and shows," YouTube strategic partner manager Graham Bennett said in a blog post.
"Today, we've taken another step in making YouTube a comprehensive video destination by partnering with Time Warner."
Google purchased YouTube in 2006 for 1.65 billion dollars and has been searching for ways to translate its immense popularity into a money-making venture.
Online video website Hulu.com, a fast-growing rival to YouTube, offers full-length television episodes and movies and has reached agreements with three of the four major US broadcast television networks.
(c) 2009 AFP
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