I know I’ve talked about this many times, but I think it bears repeating. America’s viewing habits are changing. Cable TV is dying a slow death and online videos are taking over.
Now, Yahoo wants a piece on the online streaming pie. Rumors have it Yahoo wants to produce four comedy series, 10 episodes a piece, and with budgets in the millions per series. Before you send amateur videos made in your basement to Yahoo, they’re only interested in using experienced TV directors and producers. This is just one in many steps Yahoo is or has taken to boost ratings and revenue. They’ve hired former news anchor Katie Couric and actor/producer Alexandra Wentworth to host segments exclusive to Yahoo. Then there’s talk of acquisition of News Distribution Network Inc. for around $300 million.
Right now, Yahoo ranks fifth in online video properties, with nearly 45 million as of January 2014. But rival Google/You Tube is #1, with over 157 million videos in that time period. Their nearest competitor, Facebook, has over 84 million. So obviously, if Yahoo is trying to compete, they have a long way to go. But I think these are steps in the right direction. If I were CEO Marissa Meyer, I would host both professional and amateur videos. On one hand, you have well done and even Emmy worthy (House of Cards) programming that will attract viewers and advertisers alike. On the other hand, allowing amateur videos will give more people an equal playing field and to express themselves. And who knows how many stars will be born? Do you think Yahoo can successfully compete in the online video streaming market?