Google's Streaming Strategy Adjustment: TV Team Budget Cut by 10%, Business Focus Shifted to YouTube
Google has cut the budget for its Google TV and Android TV teams by 10%, with the original budget being less than $500 million, which may affect about a quarter of the approximately 300 employees. The company is shifting its focus to YouTube, planning to develop various subscription service revenues, and is considering leadership adjustments, potentially hiring or promoting new executives to oversee YouTube's paid subscription products
According to informed sources, Google (GOOGL.US) has cut the budget for its Google TV and Android TV teams by 10%. The budget for this team was originally less than $500 million.
The informed sources revealed that this budget cut could affect about a quarter of the approximately 300 employees in the team. Although reports indicate that the same team is expanding in other regions such as India and plans to restore the team size to around 300 or more through hiring in other areas.
The sources stated that Google is shifting its focus in the television business towards YouTube, as the platform has become the top streaming service in the United States. The company is considering leadership adjustments and seeking to focus on developing revenue from various subscription services on the platform, including cable-like and music services.
Earlier this year, YouTube attempted to recruit a replacement for Lori Conkling, the global head responsible for television, film, and sports partnerships, who has left to join Netflix.
An informed source familiar with YouTube's plans stated that company leadership is discussing hiring or promoting an executive who may ultimately succeed the platform's Chief Business Officer, Mary Ellen Coe, who is likely to be responsible for all of YouTube's paid subscription products.
The source indicated that Christian Oestlien, Vice President of Connected TV and Infrastructure Product Management at YouTube, is a strong internal candidate
