YouTube's dominance in streaming forces media companies to adapt

From CNBC: 2024-06-26 06:31:06

YouTube channel to further expand its reach and potentially capture some of YouTube’s ad dollars. But for now, the company says its primary focus remains its subscription service.”We don’t view YouTube as a direct competitor,” Netflix Co-CEO Reed Hastings told analysts on the company’s first-quarter earnings call. “People are interested in different kinds of content, and they do different things at different times with different kinds of stories.”YouTube is certainly interested in CBS, Fox and NBCUniversal. YouTube struck deals with all three major networks to run pre-roll ads during NFL games this season. YouTube does not have a big audience for live sports and wanted to appeal to advertisers who associate prestige with linear TV and big media brands with these partnerships.CBS, Fox and NBCUniversal are selling the ads for millions of dollars a game, a boon to a brand they have been struggling to reinvent for a decade. CBS, for example, initially sold ahead of the first week of Thursday Night Football a $1 million three-game package. YouTube wooed the NFL and its broadcasting partners with its technology and data capabilities, delineating the services of YouTube Livestream, TV, GoogleTV+ and its eponymous video platform. The NFL also saw the potential in the age demographics YouTube could bring to the games, which tend to skew older on traditional TV channels.



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