Last updated: April 17, 2009 - 8:18am
In another step in its transformation from an online jumble of amateur videos to a destination for mainstream TV programs and movies, YouTube said Thursday that it had signed deals with Hollywood studios to showcase thousands of TV episodes and hundreds of movies on its Web site. And Google, which owns YouTube, said it might eventually bring another innovation to the site: payment for some premium content. The agreements with the studios, which include Sony, Lions Gate, MGM and others, are significant because YouTube dominates online video. Nearly two-thirds of all video views in the United States occur on YouTube, according to the measurement firm Nielsen. Last month the site had more than 90 million visitors, 10 times as many as the next biggest site, comScore said. But while YouTube, along with other new media properties like MySpace, Facebook and Twitter, is seen as leading the challenge against traditional media companies, the company itself is struggling to profit from its digital popularity.
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