YouTube has announced it is to invest in original indie content for the site, splashing out a cool $5 million in distribution for a number of independent films.
This is a massive change in the way YouTube has worked in the past. It usually waits for somebody else to create the content and upload it, but now it is using its own money to pay indie filmmakers to create movies and other content for exclusive use on the site.
Creativity on a shoe-string
"Our goal is to catalyse the creation of new ideas and production models from some of our most innovative and original content partners," said YouTube's George Strompolos about the new initiative.
"We've been amazed by the creativity and resourcefulness of many of our partners. Some, operating on shoestring budgets, have been able to produce incredible videos, generate substantial revenues and command an audience that rivals that of network television".
This new grant scheme is similar to the Musicians Wanted service YouTube introduced back in March.
Both schemes are only open to US residents at the moment, but if they are deemed successful then we may well see some of YouTube's money helping out independent filmmakers in the UK.
Via The CMU website