Yahoo has plans to launch a video content platform to compete with the almighty YouTube, reports have claimed.

According to Recode's sources, the web giant has made overtures to some of YouTube's most successful content providers hoping they'll jump ship to the as-yet-unannounced portal.

The report claims Yahoo is offering some disenchanted YouTube stars the chance to make more money from their clips through greater ad revenue shares, and better positioning on the Yahoo home page.

Some are even being offered spots on the homepage without having to offer their videos on an exclusive basis, Recode says.

Cherry picking

Apparently, the platform won't be open to all video producers or the general public, according to Friday's report with Yahoo simply seeking to "cherry pick" the best content as of right now.

Sources say Yahoo may decide to modify its stance after the first year, but for now, if and when Yahoo does launch a YouTube competitor, it'll be invite only.

Do you think Yahoo has a shot at usurping Google by using homegrown YouTube stars? Let us know your thoughts in the comments below.

Via Engadget