Not content with being the world's biggest video platform, YouTube now wants to be Netflix. A report from the Wall Street Journal says that YouTube is looking to bolster its new premium service, YouTube Red, with TV shows and movies.
YouTube Red launched a few weeks ago and offers ad-free YouTube, offline playback, and background music video playback for $9.99 per month. YouTube is developing exclusive original series for the service with some of its homegrown stars like "PewDiePie," but now it apparently wants to add professional TV shows and movies to the mix, putting it in competition with Netflix.
Of course, all of this hinges on actually securing deals with content studios, which have historically been wary of Google's online dominance. But spending lots and lots of cash may help get deals done. According to the report, Netflix is expected to spend $3.3 billion this year, and Hulu and Amazon are spending $1.5 billion.