Entering text into the input field will update the search result below

YouTube exits Hollywood as Apple goes into show business

  • Concluding its money is better invested in music and gaming, YouTube (GOOG, GOOGL) has canceled plans for high-end dramas and comedies, pulling back from its grand ambitions for a paid service with quality shows, Bloomberg reports.
  • The strategy change comes as Apple (NASDAQ:AAPL) today announces a streaming video platform that includes original programming.
  • Analysts are already asking if the tech giant has the stomach for Hollywood as it seeks to find new areas of revenue growth to combat stalling iPhone sales.
  • The press event, taking place at 1 p.m. ET, will also see Apple revamp its News app.
  • Update: YouTube has denied reports of plans to cancel high-end dramas and comedies.

Recommended For You

Related Stocks

SymbolLast Price% Chg
AAPL
--
GOOG
--
GOOGL
--