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Amazing How Much Power Google Has March 22, 2007

Posted by John in Technology.
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This announcement about a YouTube killer is amazing.  News Corp and NBC are teaming up.  The video-rich site will debut this summer with thousands of hours of full-length programming, movies and clips, representing premium content from at least a dozen networks and two major film studios.  AOL, MSN, MySpace and Yahoo! will be the new sites initial distribution partners. Their users, who represent 96 percent of the monthly U.S. unique users on the Internet, will have unlimited access to the sites vast library of content. This media alliance will offer consumers free long- and short-form video and create a compelling platform for advertisers, targeting the rapidly growing audience of online video consumers. Charter advertisers include Cadbury Schweppes, Cisco, Esurance, Intel and General Motors.

What’s amazing is that they have advertisers on board.  At PodTech we launched out PodTech Network with a similar approach – Charter Advertisers.  Nice touch.

The interesting thing about this deal is the scope of which the traditional media companies are embracing the Internet.  Not just putting up their ‘dogs’ but quality shows.  More interesting is how impact Google has on the economics of traditional media. 

At the end of the day the media companies would rather canibalize their own business to gain advantage in the new media model.  Their choice was to lose most of it to new networks like Google/YouTube. 

My favorite quote:  This new venture is further proof that the Internet is now a full-fledged entertainment medium…. said Randy Falco, Chairman and Chief Executive Officer, AOL.

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