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In an effort to recover advertising revenues from Google and YouTube, the a number of television network and entertainment giants are said to be working to form a competitive service. According to a New York Times report in today’s Toronto Star, written by Richard Siklos and Bill Carter, NBC Universal, News Corp, Viacom and CBS are said to be meeting to build a better mousetrap, one they hope the viewing public will tune into instead of YouTube.
Though serious obstacles still stand in the way of success, executives from the firms mentioned in the article have been had a sense of urgency to their meetings since Google announced it would purchase YouTube for $1.65Billion in October 2006.
“…each partner in the proposed YouTube competitor brings its own agenda and potential conflicts. For instance, News Corp. also owns both the Fox television network and the popular MySpace social-networking Web site,” wrote Siklos and Carter.
Along with specific agendas, each of the corporations meeting currently have separate deals with Google. As an example, MySpace has an advertising and search deal with Google while CBS is in negotiations with Google surrounding the sale of radio advertising.
