As 2012 rolls in…it appears the geeks have finally won. Multiple “internet-built studios” have announced they are committing big money to making movies and TV shows:
- Netflix – the big dog spends $2 billion annually and will spend $100 million this year on original content.
- Hulu – proving that ad revenues are a bankable business will spend $500 million on content this year, and an undisclosed portion of that will be on original content.
- YouTube – from short videos to the real thing, Google announced $100 million this year will be spent on original content.
That’s $2.6 billion from internet based business, built off those digital pennies (instead of analog dollars). Plus, if you project forward growth looks strong for all three companies, while traditional studios are tightening their budgets.
The future is now?