Google invests millions into YouTube
Cash windfall for YouTube
Google will be investing a staggering $100 million (£61.2 million) into YouTube later this year.
The money will be spent mostly on generating professionally produced web videos that will cultivate loyal viewers for the site, say sources who talked with the Wall Street Journal. The move comes after the predicted increase of people using the internet to watch television through specialised TV sets.
YouTube is also believed to be preparing for a website revamp, which will include a new homepage that will highlight sets of channels on popular subjects such as football and the arts. Unlike competitor Netflix, Google wants YouTube to fund its revenue from advertising, rather than making internet users pay for content.
Exciting future for YouTube
A YouTube spokesman declined to comment on the proposals but did say