YouTube launching 100 new channels

The Google-owned video site said Friday that it’s launching more than 100 new video channels. The partners include an array of Hollywood production companies, celebrities and new media groups that will produce mainly niche-oriented videos.

YouTube http://www.youtube.com is shelling out $100 million to producers, according to people familiar with the matter, who spoke on condition of anonymity. The money is an advance on advertising money the videos will bring in, and Google will recoup its portion first before splitting the proceeds. Advances are as high as $5 million per channel, said another person familiar with the arrangement, also speaking on condition of anonymity.

By Ryan Nakashima

Full Story: http://www.usatoday.com/tech/news/story/2011-10-29/youtube-original-programming/50997002/1