Google is looking to transforming YouTube’s huge viewer figures into equally massive profits through the introduction of celebrity-branded channels, latest reports suggest.
With a reported $100 million earmarked for the project, Google hopes to tempt 20 well established and frequently searched celebrities into producing original, high-end content for their dedicated YouTube channels.
As well as receiving $5 million a pop the selected celebrities will also receive full ownership of their online shows. Google hopes will such channels will attract millions of viewers and premium advertising partners that would help not only recoup the hefty investment but also turn a tidy profit.
Having bought YouTube back in 2006 for $1.65 billion, Google has struggled to turn the video sharing site into a consistently affluent profit spinner despite becoming one of the most visited sites on the web. Although set to offer commercially successful stars such as Lady Gaga and Justin Bieber huge wads of cash, Google’s funded celebrity channels could have a negative affect on the previously undiscovered talents YouTube has frequently sent to stardom.
Discussing the celebrity channels move and the implications this will have on independent YouTube musicians and stars, independent YouTube success Alex Negrete said: “I’m not really expecting handouts from Google, but I feel that they should definitely contribute more to people that have a proven track record of being consistent and devoted to the site from the beginning, rather than people that are using it just because they’re getting some money thrown at them.”