A year ago, YouTube [which is owned by Google] decided to invested $100 million in original content channels to give the popular, but old, video site a boost.
Now, YouTube is taking another look at its content creators and dropping its funding of 60% of them, while giving new contracts to the ones that performed well in numbers of views, reports AdAge magazine.
YouTube will invest another $100 million in the remaining 40% of content creators.
AdAge magazine reports:
Popular VideoThis young teenage singer was shocked when Keith Urban invited her on stage at his concert. A few moments later, he made her wildest dreams come true.
In the first round, YouTube took a scattershot approach, funding a wide variety of producers and concepts that seemed to have promise as well as a lot of mainstream celebrities. A year later, YouTube has a better feel for what worked, namely programming that appeals to a young demographic in genres like humor, music, cars and sports.