Time Warner Inc. (TWX) and Google Inc. (GOOG) inked a deal that will allow YouTube to host content from Time Warner-owned television shows and movies.
The pact is the Internet giant's latest move to goose revenue from YouTube, a popular video site Google bought for $1.65 billion. Google has been under growing pressure to show it can make money from the site, but last month it said it expected YouTube to be profitable in the not-too-distant future.
Previously, YouTube has added content from Sony Corp. (SNE) unit Sony Pictures Entertainment, MGM Studios Inc. and others. It also struck a less-comprehensive deal with Walt Disney Co.'s (DIS) ABC network for clips of sports highlights and other content , Wall Street Journal reports.
Meanwhile, YouTube executives hailed the latest agreement, which will allow Time Warner to sell ads against its clips on YouTube. They said the absence of full-length episodes from the agreement was unimportant.
“Long form is a great business,” Jordan Hoffner, director of partnerships at YouTube, said in an interview. “We are very happy that they are starting focused on our core business. If you look at Time Warner’s portfolio, it lends itself well to short-form clips. The important thing is to get them on the platform.” , New York Times reports.
“There’s a lot of content coming on to the site, a lot of professional content, which is great,” Jordan Hoffner, director of YouTube partnerships, said in an interview. “To really increase our domestic presence here for both content, and monetizable content, is kind of a double-win.” , Bloomberg reports.
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