YouTube Unveils Online Marketplace For Streaming Services, To Boost Revenue Stream

Alphabet Inc GOOG GOOGL YouTube launched an online marketplace for streaming services with more than 30 offerings.
Primetime Channels will allow viewers in the U.S. to subscribe to individual streaming services, including Showtime, Paramount+, and Starz, directly through YouTube.
The National Basketball Association has also agreed to add its NBA League Pass package of games to the platform at a later date.
Also Read: YouTube Names Google Play Executive As New Gaming Head
YouTube would integrate Primetime Channels alongside user-uploaded content, permitting viewers to easily transition from watching a trailer to purchasing access through a streaming service.
Viewing patterns on Primetime Channels will also inform the kinds of videos the YouTube algorithm presents for users. The services are generally priced the same on YouTube as subscribing directly via the providers.
The streaming providers and YouTube will split revenues from subscriptions and advertising sales gained through the feature.
YouTube has increasingly leaned on subscriptions as advertising spending has taken a hit from the economic slowdown, resulting in the first annual drop in ad sales on the platform last quarter.
Subscription revenues from YouTube’s ad-free Premium offering and YouTube TV will likely reach $9.1 billion this year, according to Credit Suisse.
According to Nielsen, the platform in September captured the largest share of streaming viewership on TVs for the first time.
YouTube had discussed broadening some of the Primetime Channel agreements to audiences outside of the U.S. and plans to sign up local services as it expands to other countries.
In 2022, YouTube pitched itself to advertisers at the YouTube Brandcast event as a better place for their TV ad dollars.
Lately, YouTube has been working to transform its platform into a shopping destination with product launches like shoppable ads or the ability to shop directly from live streams hosted by creators.
Price Action: GOOG shares traded higher by 0.46% at $90.92 in the premarket on the last check Wednesday.

Market News and Data brought to you by Benzinga APIs

Comments

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga