YouTube video hosting will no longer produce high-priced TV series and shows, but will instead focus on games and music. The projects Origin and Overthinking with Kat & June already in the works have been canceled, reports The Verge.
According to sources of the publication, the high cash costs necessary to fully compete with such giants as Amazon and Netflix forced it to abandon the production of original content on YouTube. At the same time, the service will continue to offer users a YouTube Premium subscription, which includes unlimited access to music and ad blocking.
YouTube officials have confirmed the closure of Origin and Overthinking with Kat & June, but noted that several new shows are still in production. In the future, the company plans to reorganize its streaming service and start monetizing it with ads.