With the streaming wars raging on, YouTube is reportedly stocking up on new ammunition in the form of streaming rights to television series and feature films.
The Alphabet-owned (GOOG) streaming service, which boasts more than a billion users around the world, is bouncing around Hollywood to meet with a variety of production companies and studios in an effort to secure licensing deals, according to the Wall Street Journal, which cites anonymous sources.
While the negotiations are apparently still in early stages, the Journal reports that two relatively new hires at YouTube—former MTV programming head Susanne Daniels and former Netflix (NFLX) executive Kelly Merryman—are involved in the talks.
When reached for comment on the Journal report, a YouTube spokesperson told Coins2Day: “We don’t comment on rumor or speculation.”
Licensing the rights to television series and movies would give the company streaming rights to a new and expanded stable of content that would help it compete with other popular streaming services like Netflix (NFLX), Amazon’s (AMZN) Instant Video, and Hulu—all of which have been steadily addingmore and moreoriginal content while also offering wide selections of licensed material.
YouTube recently launched its new, $9.99-per-month subscription streaming service, YouTube Red, which offers commercial-free videos and music and already offers a wide range of videos created by its so-called YouTube stars. The company also announced plans in October for 10 original series and movies that will debut on Red.