Google (GOOG) is readying another round of funding for its YouTube video sharing website, according to AdAge. The Internet giant last year invested $100 million into dozens of new channels to develop original content that would compete with traditional television. This time around, however, Google will only be providing a second round of funding for 30% to 40% of its existing 160 content partners. The more successful channels that receive additional funding will be notified in the next few weeks.
“Our biggest objective was to kick-start the ecosystem, to bring in great creators, to deepen our relationships with advertisers and to grow viewership,” said YouTube’s Global Head of Content Strategy Jamie Byrne.
For the first round of funding, Google and YouTube funded a variety of different concepts that seemed to have potential, including some with mainstream celebrities. This time around the two the are looking for programs that have built a proper audience and appealed to a younger demographic in genres such as humor, music, cars and sports.
“We looked at viewership they’ve been able to achieve, the cost of the content, and from that we are able to determine the channels that are delivering the best return on our investment,” Byrne said.