Putting an end to the rumours, Google's video hosting website YouTube confirmed on Monday that it has bought Next New Networks, a Web video production company.
YouTube says the newly bought production team will be on the forefront of testing new YouTube technologies, as well as acting as an incubator for up and coming video talent.
“Within YouTube, 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,” wrote Tom Pickett, YouTube's director of Global Content Operations, on a company blog.
The newly-bought Next New Networks, which produces original programming and helps video makers distribute films and earn more money, will be on the forefront of testing new technologies, said YouTube.
In addition to this new acquisition, Pickett also outlined the company's new programme called 'YouTube Next'.
YouTube Next is a new team tasked with supercharging creator development and accelerating partner growth and success, said Pickett.
“The team will also spearhead a series of YouTube Next-branded programs and services that will build off past partner development initiatives such as the Partner Grants Program that advanced partners funds based on future YouTube revenue share and the recent $1,000 credits at B&H Photo given to partners to purchase new camera equipment,” he added.
He said the YouTube Next team and programs will expand YouTube's partner meet-ups and community events, increase investment in partner education and training and launch new capabilities in audience development.
With this acquisition, the goal for YouTube is to drive more views of its videos which, in a fast evolving Web content space, needs to offer higher quality to compete for eyeballs with professional offerings from the likes of Hulu, Netflix Inc and various broadcasters.
YouTube says the newly bought production team will be on the forefront of testing new YouTube technologies, as well as acting as an incubator for up and coming video talent.
“Within YouTube, 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,” wrote Tom Pickett, YouTube's director of Global Content Operations, on a company blog.
The newly-bought Next New Networks, which produces original programming and helps video makers distribute films and earn more money, will be on the forefront of testing new technologies, said YouTube.
In addition to this new acquisition, Pickett also outlined the company's new programme called 'YouTube Next'.
YouTube Next is a new team tasked with supercharging creator development and accelerating partner growth and success, said Pickett.
“The team will also spearhead a series of YouTube Next-branded programs and services that will build off past partner development initiatives such as the Partner Grants Program that advanced partners funds based on future YouTube revenue share and the recent $1,000 credits at B&H Photo given to partners to purchase new camera equipment,” he added.
He said the YouTube Next team and programs will expand YouTube's partner meet-ups and community events, increase investment in partner education and training and launch new capabilities in audience development.
With this acquisition, the goal for YouTube is to drive more views of its videos which, in a fast evolving Web content space, needs to offer higher quality to compete for eyeballs with professional offerings from the likes of Hulu, Netflix Inc and various broadcasters.
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