YouTube has announced that they would be reducing funds dedicated to the creation of YouTube Originals, and diversify them into other funds set out for creators.
Robert Kyncl, Chief Business Officer, YouTube has announced the significant decision of reducing funds for the YouTube Originals slate, along with the departure of Susanne Daniels, Global Head of Originals, from the company. Commitment to already contracted shows would be honored, mentions Robert and creators involved in these shows would also hear from YouTube directly.
For the unacquainted, YouTube Originals are series, movies, and events from YouTube, released series and movies on the ‘YouTube Originals’ channel. Premium members have access to ad-free viewing of all the available episodes in a YouTube Original series and movies when they premiere, additional content such as director’s cuts and extra scenes, and the option to download YouTube Originals for offline viewing.
Newer opportunities and potential of the impact of YouTube’s investments have been cited as reasons to reduce the Originals slate and going forward only funding programs such as Black Voices and YouTube Kids Funds. YouTube has paid over 30 Bn USD to over 2 Mn creators and artists part of the YouTube Partner Program, and media companies. The company would continue to invest in the creator economy and grow programming.