Yahoo is reportedly luring YouTube stars away from the video service to help set up a new TV network that could be the next big thing.
According to a report by Recode, Yahoo CEO Marissa Mayer is working on a rival video service to YouTube.
Mayer has reportedly begun contacting YouTube’s top talent with promises of improved ad revenue and guaranteed ad rates for their videos.
The offers follow reports over recent months that have noted the difficulty in making a profit from Google’s YouTube service.
Internet entertainer Olga Kay, who has over 1 million subscribers on YouTube, "shares a growing list of worries with other creators", according to The New York Times in February.
Yahoo reportedly doesn’t want anyone to be uploading content to its service, but instead wants more professional and established stars.
Yahoo has also told some video owners that it can use its well-trafficked site to promote their clips on a non-exclusive basis.
Yahoo is said to be already preparing a content management system for the video stars to manage their clips, as well as considering acquiring an existing service like Vimeo.
As of yet few details are known about the rival platform although it’ll be interesting to see if YouTube can be knocked off its pedestal.
Stay tuned as we’ll update you on Yahoo’s video service when we hear more.