Report: YouTube is done competing with Netflix, Amazon

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Aside from the Cobra Kai series, YouTube original programming hasnt garnered much streaming traction, as the platform tries to compete with , , and . Now, that battle is reportedly ending for YouTube Premium.

According to , YouTube has stopped accepting pitches for Hollywood-quality programming, while the sci-fi series Origin and Overthinking With Kat & June have been canceled and are being forced to find other outlets for distribution.

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Since competing with the likes of Netflix and Amazon costs billions of dollars per year, Bloomberg wrote that the site has determined that investing in music and gaming is a better idea even though YouTube reportedly earned more than $15 billion in advertising revenue in 2018.

In November, it was reported that YouTubewhich started its premium service, originally called YouTube Red, in 2015would and that it would decrease the number of original scripted shows beginning in 2020. The latest news further cements the idea that YouTube has determined it wontor cantcompete with the most popular streaming services.

Plus, Apple is set to announce on Monday its own video service with original programming.

While its strangely flattering to be the topic of Hollywood gossip, please know I am committed to YouTube and cant wait to unveil our robust slate of new and returning originals, Susanne Daniels, the head of YouTubes original productions, told Bloomberg.

YouTube has had some successes with its originals.

Cobra Kai, which is a reboot of the Karate Kidfranchise, , and its second season will be unveiled next month. (Martin Kove, who continues his role as Sensei John Kreese told the Daily Dot he had longings for what his character would accomplish in a not-yet-announced third season.) Though YouTube has created other well-received series like the Anna Akana-led and the LeBron James-produced documentary, not many series have lasted more than a single season.

YouTube also continues to lean on its most popular (and, in some cases, controversial) creators like Logan Paul and Poppy to draw in viewers who are willing to pay $12 per month for the premium service. While those decisions are sure to make YouTube fans happy, its unclear if that kind of home-grown content would be a draw for those who arent as familiar with YouTube culture.

One analyst didnt seem surprised that YouTube is ceding ground.

In some ways, they never really went all-in on the strategy, Anthony DiClemente, a research analyst at Evercore ISI, told Bloomberg. Thats like bringing a butter knife to a gun fight.

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Original Article : HERE ; This post was curated & posted using : RealSpecific

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