YouTube Signs Major deal with Hollywood

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So go the days of poor quality downloads of feature movies. With this latest deal between a couple of major film producers, You Tube has become more than just a site to "Broadcast Yourself". My only concern here is how advertisent and commercials will affect the site. Knowing Hollywood and MGM, there has to  be some economic interest behind the deal.

Video-sharing site YouTube has signed deals with both Hollywood studio MGM and Australian TV producer FremantleMedia for online content.

MGM will allow some movies and some of its TV shows to be shown in their entirety on the web.

Fremantle, creator of American Idol reality TV show and soap opera Neighbours, will create new content exclusively for YouTube.

Both deals were announced Monday.

YouTube, which was bought by Google two years ago, has until recently screened only clips of movies and TV shows online.

Its competitor Hulu, however, the joint venture of News Corp. and NBC, is showing full-length movies and TV shows.

YouTube agreed to a deal with CBS last month that allowed it to put episodes of Star Trek and Beverly Hills 90210 online.

In its deals with both Fremantle and MGM, YouTube has agreed to share advertising revenue.

MGM is not allowing some of hottest properties, such as the Bond franchise, to screen online, but will put out films such Bulletproof Monk and The Magnificent Seven and TV programs such as American Gladiators.

Fremantle already has YouTube channels for U.K.'s The X Factor and Australia's Hole in the Wall.

It could create content to promote its TV shows or produce new programs exclusively for the web.

Sourced from CBC.ca