YouTube is not a charity. It makes money, lots of it, by selling ads on the videos people upload to the site. The company is owned by Google and rakes in an estimated $3.6 billion worth of ad revenue each year — more than the top 10 Super Bowls combined.
But many advertisers want to be associated with something more than facile felines, medicated minors, and biting brothers. So YouTube Space is about creating videos that look more like movies and TV — a mix of reality shows, game shows, music and even infomercials.
YouTube now has “channels” — kind of like TV networks, each with their own subscribers.
Season two of “Video Game High School” drew more than 15 million views. Freddie Wong and partner Matt Arnold get a share of the ad revenue the series generates.
Wong said, “People always ask us, ‘When are you guys gonna do a movie? When are you gonna do a TV show?’ And to me, that feels like such a step backwards from where are.”
Tracy asked, “If a broadcast TV network comes to you and says, ‘We want you to create a series for us.’ You’re gonna say, ‘We’re busy over here on the Internet’?”
Wong said, “We’d say, whatever you offer us better be a sweeter deal than what we got going on right now because what we have is the best deal of all time. We have full creative control, we have a giant audience that loves what we do, and we can make whatever we want.”
Wong said he believes YouTube is the future of entertainment, and now has the space to try to prove it.