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October 30, 2011 / Raffy Pekson II

YouTube to Create 100 New Channels for $100 million

Madonna's YouTube Channel

The Wall Street Journal announced Saturday that Google’s YouTube is creating around 100 video channels that will have new original programming with the likes of celebrities Madonna, Jay-Z, Ashton Kutcher and Shaquille O’Neal, and including The Wall Street Journal itself. These videos include an array of Hollywood production companies, celebrities and new media groups that will produce mainly niche-oriented videos.

According to the San Francisco Chronicle, YouTube is shelling out $100 million to producers with advances as high as $5 million per channel, according to unconfirmed reports. Google declined to offer financial details of the deals, but said the majority of revenue will go to partners.

The YouTube channels will roll out beginning this month, though most will premiere next year. YouTube says the channels will add 25 hours of new original content daily, with dozens of Web series debuting at scheduled times.

Sources: The Wall Street Jounal | San Francisco Chronicle

Image from YouTube.com

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One Comment

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  1. Frank / Oct 31 2011 5:32 am

    “YouTube says the channels will add 25 hours of new original content daily”.
    So. Google has finally created a timesuck so large that will it add sixty minutes to each day. Unfortunately these extra minutes will be spent in mandatory service to the timesuck, which in turn will be using the hour to replenish itself on dead brain cells and catch up on professional sports news.

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