Looks like Google are going into the content production business, just like it’s rivals have been. The owner of Youtube is planning on creating 20 additional channels on the video sharing website, and they are planning to spend a big chunk of cash (around $100 million) to create original programming to the worlds biggest video site, according to sources.

Just like Netflix and Hulu Plus have been doing, Google wants to create its own streaming video programs, the company will create low cost programming designed for YouTube, and support the shows with advertising.

The sources said their will be a “major overhaul” to YouTube, which already has an efficient and profitable advertising system in place.

The source said Google has visited top Hollywood talent agencies in search of ideas, and will probably end up making deals with production companies and directors to produce the content.

In addition to the multitude of set top boxes, many new TV sets come equipped with Internet connection. With original content being produced specifically for the web inserted into the battle for viewers, it’s going to be more and more difficult for cable TV, broadcast and satellite TV to dominate television broadcasting as they do.

Youtube have been busily moving away from shorts and into longform video over the last few months, and this move will enhance their position in the streaming market. So it may be the end of people falling over and singing dogs on Youtube. Well, we can only live in hope.

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