YouTube has officially announced its acquisition of Next New Networks, a web video production company that helps video creators distribute their films and make money off of them.
The acquisition will potentially bring more high-quality content to YouTube, making the site more of a competitor with things like Hulu and Netflix.
In an interview with the New York Times, Tom Pickett, director of global content operation at YouTube said “There’s still a lot of YouTube that’s about the single video experience right now…We want to think about sets of videos and program experiences. That’s where we’re heading and we think this team is going to help us get there.”
As part of the acquisition YouTube will be creating a new program called YouTube Next, a service to help those who currently receive an share of ad revenue from YouTube to build a larger audience for their videos, and distribute them to other websites. Some of those users will be given the opportunity to get grants to work on their videos, and training on how to make those videos better.
Next New Networks currently works as a cable company of sorts, helping to distribute and promote content, while not necessarily creating that content itself.
By in large, the acquisition should bring some more production-quality work to YouTube. Many of Next New Network’s current programs are already distributed on YouTube as well as other outlets such as iTunes.
What do you think about the acquisition? Would you like to see more TV-quality programming on YouTube?