YouTube has realized it can't compete with the streaming giants - so it's joining them, sort of
The opposite of competition: the video giant from Alphabet is expected to soon enter the streaming market through a new platform.
Unlike Apple and Amazon, the company will not produce or film new content, but will unite all services under one roof
Yanon ben Shoshan
Monday, August 15, 2022, 07:30 Updated: 07:52
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YouTube (Photo: ShutterStock)
The video giant owned by Alphabet, the parent company of Google, is building a new platform under the name "The Channel Store" - according to a report by the Wall Street Journal.
According to the publication, the new service, which will probably be launched this fall, will allow users to purchase content (series and movies) from the best providers in one place.
In fact, Google decided to apply the saying "if you can't beat them, join them", and enter the crowded streaming market by consolidating the content of competitors.
To some extent, it is also a kind of final admission that YouTube cannot compete with Netflix and HBO.
The company has long looked for ways to create and offer more premium content, including a handful of unsuccessful attempts to create original content (series and original movies).
According to industry sources, YouTube is currently negotiating with the streaming giants and content providers to share revenue from purchases within the new platform. The advantage, of course, is YouTube's huge audience - which regularly consumes content - and will choose to pay Google the money to get the series and movies of its competitors This, instead of paying for each service separately.
The new platform will help Google enter the crowded streaming market (Photo: ShutterStock)
A large part of the service that YouTube is developing already exists through YouTube TV - an Over the Top media streaming service offered by the company since 2017.
The platform includes, among others, ABC, CBS, CNN and HBO MAX.
Similar to YouTube, it was recently reported that Walmart is also considering adding streaming services as a new benefit for subscribers.
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