YouTube announced that it has acquired Next New Networks. Rumors about the acquisition have been out there for a while, but Google has made it official.
As our own Doug Caverly wrote about a month ago, "The acquisition would make sense in a number of ways. First, whether or not you've heard of Next New Networks, it's rather big... YouTube's been dabbling with original content for some time, and that just happens to be the specialty of Next New Networks. Finally, other Next New Networks partners include Amazon, AOL, Hulu, TiVo, and Yahoo, meaning an acquisition would provide Google with an easy way of making some important friends (and/or undercutting a few rivals)."
"Since launching in March 2007, the Next New Networks team has built a highly effective platform for developing, packaging and building audiences around original web video programming, attracting over 2 billion views and 6 million subscribers across their partner networks of channels and shows," says YouTube Director of Global Operations, Tom Pickett. "Within YouTube, Next New Networks will be a laboratory for experimentation and innovation with the team working in a hands on way with a wide variety of content partners and emerging talent to help them succeed on YouTube. We are thrilled with the new capability the team brings and the positive impact it will have making our YouTube partners more successful."
YouTube also announced "YouTube Next," a YouTube division aimed at accelerating partner growth, which will spearhead a series of YouTube Next-branded programs and services.
"At YouTube, we're focused on building a great technology platform for creators, and so we leave the actual creation of great videos to the people who do it best: our partners," adds Pickett. "This new group and the addition of the Next New Networks team doesn't change that. But being a great platform for creators also means helping our partners get the tools and guidance they need to develop higher quality videos and drive bigger audiences to their work.
YouTube says the YouTube Next team and programs will expand the company's partner meet-ups and community events, increase investment in partner education and training and launch new capabilities in audience development.
Financial terms of the Next New Networks acquisition were not revealed.