Google's YouTube buys Next New Networks

soupsoup:

Alex Pham at Los Angeles Times

Hoping to “supercharge” the next generation of online video stars, Google Inc.’s online video site YouTube on Monday announced it has purchased Next New Networks for an undisclosed sum.

As reported in Company Town in December, YouTube was in negotiations to acquire the New York video producer whose pithy flicks on websites such as Hungry Nation and Barely Political have garnered more than 2 billion views since the company launched four years ago today.

Based in New York and backed by former television executives from Nickelodeon and MTV, Next New Networks has built a network of videos created both in house and by independent filmmakers.

YouTube, which has steered clear of creating its own films, made clear that it has no plans to dive into the content business.

Instead, the San Bruno company plans to use Next New Networks as an incubator for a new class of semiprofessional videographers who are able to make a living from the advertising generated by their online videos.

Excellent news! Congrats to everyone at Next New

Notes

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    So proud to have called Next New Networks home for almost 2 years. Congrats to everyone over
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