Joint response to YouTube

Video space remains hot and uncertain.  YouTube is causing other companies to rethink their strategy and even plan a joint effort with their traditional rivals.  Based on a WSJ article News.com says

While a deal is still far off, the four media companies envision a jointly owned site that would be the primary Web source for videos from their television networks, the paper said in an online report on Wsj.com, citing people close to the situation.

The companies aim to cash in on the fast-growing market of Web video advertising and have also discussed building a Web video player that could play clips, the Journal said.

This is an interesting phenomenon.  Can a joint venture between mega players succed where their individual ventures usually fail?  I want to see how they do it.

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