YouTube buys Next New Networks
March 8, 2011
YouTube has purchased Next New Networks for an undisclosed sum.
Based in New York and backed by former television executives from Nickelodeon and MTV, Next New Networks has built a network of videos created both in house and by independent filmmakers.
YouTube made clear that it has no plans to dive into the content business. Instead, the company plans to use Next New Networks as an incubator for a new class of semi-professional video makers who are able to make a living from the advertising generated by their online videos.