YouTube Wants To Spend $100 Million To Stream Movies And Beat Netflix

Photo: YouTube: Miley Cyrus

YouTube wants to start a subscription service of streaming movies a la Netflix and Amazon‘s new streaming service for Prime customers, the Post reports.They’re planning to launch it first in the UK and Europe where there’s less competition and they can test it, before rolling it out internationally. YouTube has been in talks with Hollywood executives over the plan for months, and plans to spend $100 million on content. In Europe the service would compete with Lovefilm, the Netflix-like service which Amazon recently acquired; Netflix is also planning to expand to Europe.

Of course, not all studios are on board and it’s not an easy road from here to there. One studio executive mentions that Google needs to take a stronger stance against piracy. But a subscription is a pretty big shift in strategy for YouTube, which so far has made everything free and tried to make money from advertising.

Don’t Miss: Meet Saul Klein, The Entrepreneur Turned VC Who Sold Lovefilm To Amazon For $312 Million →

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