Today it is more common to see online video platforms invest a lot of money in original content. YouTube is no exception and according to Bloomberg, YouTube is expected to spend a few hundred million on TV shows and movies for 2018.
To most people, a few hundred million is an insane amount of money to spend on anything. Most of us will never see this kind of money in our lifetime, but as far as entertainment goes, a few hundred million is just a drop in the bucket. This actually means that YouTube would be spending less than the competition. A few hundred million is essentially YouTube just keeping to the same spending budget, meaning that YouTube could potentially lose out to the competition who might be willing to invest more money. Crazy.
Robert Kyncl, YouTube’s chief business officer said, “YouTube Originals are a driving force for YouTube Red, and we have a full slate of Originals already planned for 2018 and 2019. While we don’t comment on speculation regarding our budgets, you’ll see us continue to invest heavily in original programming as we ramp up our overall efforts to promote YouTube Red over the next year.”
Reports indicate that Apple also has some pretty huge TV and movie plans of their own, plus Disney’s own streaming service is set for a launch in 2019 so the competition is heating up.