YouTube buys US web television company

Mar 08, 2011
YouTube announced that it bought Internet television company Next New Networks to improve content for the Google-owned video-sharing website.

YouTube announced that it bought Internet television company Next New Networks to improve content for the Google-owned video-sharing website.

The New York City-based startup was launched four years ago and is home to popular networks, such as "Barely Political" and "Indy Mogul," which it billed as the "filmmaking network for the generation."

Next New Networks built a highly effective Web programming platform that has served up more than two billion videos and attracted six million subscribers, according to Tom Pickett, director of a newly created YouTube Next team.

"Next New Networks will be a laboratory for experimentation and innovation with the team working in a hands-on way with a wide variety of content partners and emerging talent to help them succeed on YouTube," Pickett said.

"At YouTube, we're focused on building a great for creators, and so we leave the actual creation of great videos to the people who do it best: our partners."

Financial terms of the deal were not disclosed, and YouTube stressed that it was not getting into the content creation business.

YouTube has been working to expand its video offerings with more original content as online video services such as and become increasingly popular with viewers.

Industry tracker eMarketer predicted that online video ad spending in the United States this year will climb to nearly $2 billion from an estimated $1.42 billion in 2010.

Explore further: After a decade online, YouTube is redefining celebrity

Related Stories

YouTube adds online video editing tool

Jun 17, 2010

YouTube users can now edit their own videos online. The Google-owned video-sharing site added an online editing tool this week that allows YouTube users to combine multiple videos, shorten a video or add soundtracks ...

Univision coming to YouTube

Nov 16, 2009

YouTube and Univision announced an agreement on Monday to bring short- and long-form programming from the Spanish-language broadcast network to the video-sharing site.

Recommended for you

ICANN chief stepping down in early 2016

May 21, 2015

The head of the group that oversees all Internet addresses will step down early next year, after a plan to end US oversight of the key nonprofit organization.

How alternative currencies could catch on and cash in

May 21, 2015

Alternatives to cash, like Bitcoin and Uber, may never replace the coins in our pockets or paper bills in our wallets, but they are creating significant social and economic impacts, and with some design adjustments, ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.