LOS ANGELES (Reuters) - Google Inc’s YouTube video-sharing site has signed content deals with several Hollywood studios, two sources familiar with the matter told Reuters on Thursday.
The two sources said on condition of anonymity that the studio deal involved Sony Corp and other parties.
The move underscores Google’s efforts to ramp up content on YouTube to attract more advertising dollars.
On a blog post, YouTube said only that it was announcing a new destination for TV shows and an improved page for movies, without elaborating.
It also represents a thawing in a chilly relationship between Youtube and Hollywood, which has criticized the site in the past for posting unauthorized content.
YouTube, which Google bought for $1.65 billion in 2006, is under pressure to start yielding a return in line with its huge popularity. More than 100 million users watch videos on the site every month, according to the most recent data from comScore, an Internet audience measurement firm.
But YouTube, best known for grainy videos uploaded by its users, has been unable to attract major financial commitments from marketers reluctant to advertise their brands alongside unprofessional content.
Reporting by Susan Zeidler