It’s hard to express just how excited this news release makes me…
YouTube plans to create over 20 genre specific channels that will produce original content for the website. In spite of the enormous $1.65B price tag Google paid for the company in 2006, YouTube is expected to turn a profit this year (reporting earnings of an approx. $800M), which is why the company plans to invest a cool $100M in the restructuring of YouTube to include original programming.
As an aspiring transmedia producer (and a stockholder in GOOG), I can hardly contain my excitement. And serendipitously, I had the opportunity to meet with a Google Software Engineer named David Hinkes this evening at a Social Media networking seminar put on by UCLA Career Week. He confirmed the news, and was an invaluable resource on Google recruitment and all-things social media.