By Jon Swartz
Video platform is testing the concept with select media partners
YouTube is testing a new hub of free, ad-supported streaming channels, putting it on a competitive collision course with Roku Inc., Paramount Global's Pluto TV and Fox Corp.'s Tubi.
Alphabet Inc.'s (GOOGL)(GOOGL) video platform is in discussions with entertainment companies about featuring their movies and shows on the channels and is testing the concept with select media partners, according to a Wall Street Journal report.
"We're always looking for new ways to provide viewers a central destination to more easily find, watch and share the content that matters most to them," a YouTube spokesperson said.
YouTube hauled in $7.1 billion in advertising revenue in its fiscal third quarter, 13% of Google's total ad sales, but it was the first decline since Alphabet started reporting the video unit's financial performance in 2020.
YouTube has recently undertaken several streaming gambits, including paying $2 billion a year for rights to the National Football League's Sunday Ticket franchise, as well as creating a marketplace that lets users sign up for paid streaming services.
(END) Dow Jones Newswires
January 13, 2023 13:24 ET (18:24 GMT)
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