YouTube has long said they will stay out of the video production business but that changed this week as they acquired video production company Next New Networks. Next New Networks will become part of YouTube Next. According to the company, YouTube next is a “team that will focus on supercharging content creator development on YouTube, driving deeper expertise in partner audience development, and incubating new ideas that can be shared with the broader community.”
Next New Networks was launched in 2007 and since that time has garnered over 2 billion views and 6 million subscribers. The company credits their success to partnering with over 60 independent producers including The Gregory Brothers. The Gregory Brothers are best known for their Bed Intruder video and more recently a new mash-up video featuring Charlie Sheen.
According to the New York Times, the acquisition will cost YouTube less than $50 million. Both companies also say actual video production will be limited and instead Next New Networks will be used to help discover new video content.
Rewatchable is a corporate video production company based near Boston, MA.
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