YouTube original content cancellations continue to pile-up, including Overthinking with Kat & June and Origin, among others…
Video streaming is a big and growing global business. In fact, revenue from streaming video amounts to nearly $25 million in US dollars. That figure is expected to grow at an annual rate of 3.2 percent with user penetration of 14.6 percent increasing to 16.3 percent by 2023.
Additionally, the average US consumer now subscribes to an average of three video streaming services. This year, both Apple and the Disney corporation will join Amazon, Hulu, and Netflix to compete in the marketplace.
YouTube Cancelling Many of its Original Content, Numerous Reports Claim
However, everyone who ventures into the space doesn’t necessarily succeed. Perhaps unsurprisingly, YouTube isn’t exactly catching fire with consumers through original content.
Several news outlets are now reporting YouTube will indeed leave the field, cancelling a slew of original titles. Among them are Overthinking with Kat & June and Origin.
A few enjoy renewals, including Cobra Kai and Impulse. But, most of its original programming will end abruptly. It’s part of a plan revealed back in November of last year.
A planned YouTube Originals ad-supported, non-subscription model will become available by the year 2020. (In other words, it will make its exclusive paid content available to everyone, with ad breaks.)
It seems the Google video hosting service is getting out before the field becomes too crowded.