Google’s (NASDAQ:GOOG) You Tube, which is currently the most popular video sharing website, announced this week that they would be adding original programming to their content. The first of these new channels will be available next month with more to come next year. Google (NASDAQ:GOOG) is hoping that this new initiative will increase viewership as well as video advertisement revenue.
Channels will include a variety of professionally produced content including pieces by celebrities such as Amy Poehler, Ashton Kutcher, and Shaquille O’Neal as well as other news and how-to content. “The Web is bringing us entertainment from an even wider range of talented producers, and many of the defining channels of the next generation are being born, and watched, on YouTube,” according to Bloomberg.
Google’s move is another step toward television converging with the internet. The move is a direct strategy to take market share from top media companies such as Netflix (NASDAQ:NFLX), ABC (NYSE:DIS), CBS (NYSE:CBS), NBC (NASDAQ:CMCSA), and Fox (NASDAQ:NWSA). There are only so many hours in a day, so the fight for our attention spans will be fierce.
- Google Inc. (NASDAQ:GOOG): The shares recently traded at $600.14, up $1.47, or 0.25%. Its market capitalization is $193.94 billion. They have traded in a 52-week range of $473.02 to $642.96. Volume today was 2,508,147 shares versus a 3-month average volume of 3,747,100 shares. The company’s trailing P/E is 20.46, while trailing earnings are $29.34 per share. About the company: Google Inc. is a global technology company that provides a web based search engine through its website. The Company offers a wide range of search options, including web, image, groups, directory, and news searches.
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