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BizReport : Trends & Ideas archives : March 23, 2007

Media giants team up to take on YouTube

Hoping to gain back control of their content, and create a revenue stream of their own, several media giants are teaming up for a new streaming video service that will challenge YouTube.

by Kristina Knight

NBC Universal, NewsCorp, Yahoo and several others are working together to create the new platform. The unnamed platform will allow users to watch video clips and share the clips, which will have advertising attached in a kind of traveling video player.

"This is a tremendous opportunity to get our content out there and leverage relationships better," said one source close to the project (via the LA Times). "We're not about blocking our content and not allowing opportunities. We just want to do it in a way that's legal and allows us to get paid."

Video streams include shows like "Heroes", "24", "Family Guy" and others. NBC Universal and NewsCorp are also packaging content to send to Yahoo and other sources where users are searching for content. Users will also be able to create their own content to share on the site, though that isn't the primary focus. The platform could go live this summer.

Google, the parent of YouTube, has had a monopoly of sorts with online video since buying YouTube in 2006 for $1.65 billion. According to HitWise, YouTube pulls in more viewers that some television sites' entire online audience.

Tags: online video, streaming video, user-generated, YouTube

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