The new aquisition is a part of Google's strategy to change YouTube as a content creator than a content host. Google and Next New Networks have not yet disclosed the financial terms of the acquisition. New York Times reported that Google spent less than $100 million in acquiring Next New Networks. The acquisition will help content creators to make money through YouTube.
Google said that the Next New Networks staff will join a newly created team, YouTube Next, which will focus on supercharging content creator development on YouTube, driving deeper expertise in partner audience development, and incubating new ideas that can be shared with the broader community.
"Within YouTube, Next New Networks will be a laboratory for experimentation and innovation with the team working in a hands on way with a wide variety of content partners and emerging talent to help them succeed on YouTube," Tom Pickett, YouTube's director of Global Content Operations, wrote on a company blog.