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- YouTube‘s efforts to compete with Netflix and Amazon Prime Video are reportedly coming to an end, though the company is denying the claims.
- According to a Bloomberg report on Sunday citing sources familiar with the matter, YouTube has canceled its plans to develop "high-end" dramas and comedies and has stopped accepting pitches for expensive scripted programming.
- On Monday, a YouTube spokesperson told Business Insider that the company denied the Bloomberg report and that it has a "several scripted projects in development."
- YouTube said it would announce an updated schedule of new and returning original shows within the coming weeks.
YouTube‘s efforts to compete with Netflix and Amazon Prime Video are reportedly coming to an end, though the company is disputing the claims.
According to a Bloomberg report on Sunday citing sources familiar with the matter, YouTube has canceled its plans to develop "high-end" dramas and comedies and has stopped accepting pitches for expensive scripted programming.
On Monday, a YouTube spokesperson told Business Insider that the company disputed the Bloomberg report and that it has a "several scripted projects in development."
Bloomberg reported that YouTube is canceling existing original shows including the sci-fi drama "Origin" and comedy “Overthinking with Kat & June," but that the company was in negotiations to bring back its breakaway hit, "Cobra Kai," for the third season.
YouTube
YouTube told Business Insider it has been "steadily growing" its subscription video service while "also developing new series and formats that will appeal to a global audience through a new ad-supported model." That ad-model will be in place for all of YouTube’s series by the end of the year, the spokesperson said.
YouTube also said it would announce an updated schedule of new and returning original shows within the coming weeks.
Read more: Apple finally unveils its streaming TV service, Apple TV Plus
News of YouTube slowing down its efforts to deliver highly produced shows comes months after the company announced last year that its original programming would eventually move out of its YouTube Premium subscription service, and become free for viewers with ads. Today, YouTube Premium offers users a grab bag of services, including access to YouTube Music, YouTube Originals, and an ad-free YouTube experience.
Question marks around surrounding YouTube Originals also comes asApple announced its plans on Monday to finally jump into streaming services with Apple TV+, which will include a variety of original content from the company.
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Source: Business Insider – nbastone@businessinsider.com (Nick Bastone)