YouTube is reportedly cancelling its initial plan to produce high-end dramas and comedies as it has stopped accepting pitches for expensive scripted shows.
In an article published by Bloomberg, sources said that sci-fi drama “Origin’’ and the comedy “Overthinking with Kat & June” are among the axed programs which prompted producers to seek new platforms for the shows.
The sources added that the retreat from direct competition with Netflix Inc. and Amazon.com Inc.’s Prime Video service reflects the high cost needed to be able to compete with such entrenched players.
The Google-owned business generated more than $15 billion in ad sales during the previous year without a huge slate of production and concluded it is better to invest its money in music and gaming.
Anthony DiClemente, an analyst at Evercore ISI said: “In some ways, they never really went all-in on the strategy. That’s like bringing a butter knife to a gun fight.”
Meanwhile, Apple Inc. has unveiled its first slate of original series which includes titles such as “Amazing Stories,” “Are You Sleeping,” “Calls,” “Central Park,” “Defending Jacob,” and “The Morning Show” among others.
(Photo source: howtogeek.com/ youtube.com)