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YouTube’s $100m push for original content has resulted in Reuters TV creating its own channel on the video-sharing site.
Launched yesterday, it will feature 10 news, commentary and analysis programmes that report on hard news, finance, politics, technology and special Reuters investigations.
Reuters said that it “is employing a creative editing style that is suited for Internet programming and does not mimic traditional TV.”
This will produce a “high-energy, high-quality production style that is unique to any business news broadcasts on traditional television.”
While Reuters has been publishing content on YouTube since 2008, the creation of the channel will be seen as a coup for the site as it seeks to add to the 100 other media partners already delivering original programming.
This includes Wall Street Journal, The Onion and Motor Trend, but Reuters adds a well-respected and globally recognised name to the line-up..
YouTube has reportedly earmarked $100m to build its original content offering, presumably based on the logic that it is easier to predict the audience size for TV shows – and the corresponding ad revenue – then it is for a random video that happens to go viral and clock up 10m views.
As reported in December, YouTube has revamped its design to focus on channels – it is therefore important that it adds content providers as it seeks to compete with traditional broadcasters.
Connected TV is widely seen as an area that will experience huge growth in 2012 and many larger players have been redesigning their offering to take advantage of it.
Microsoft has relaunched Xbox LIVE as an all-in-one entertainment hub – which includes YouTube as one of the content providers available – and Google is aiming to make Android the dominant operating system in TVs by the end of 2012.
A large part of the competition between providers has been the battle to strike deals for exclusive content TV shows, rather than relying on movies.
Netflix has plans for original shows Lilyhammer and House of Cards starring Kevin Spacey, as well as new episodes of Arrested Development.
Meanwhile its UK competitor LoveFilm has struck a deal to stream TV shows from the BBC and ITV.