News - Youtube reaches agreement with Hollywood studios

The Internet video site YouTube, owned by Google Inc, content agreements reached with several Hollywood studios, told Reuters on Thursday two sources familiar with the matter. The two sources said on condition of anonymity that the agreement includes studies of Sony Corp and other groups. The move reflects Google's efforts to expand the content on YouTube to attract more advertising dollars. In a blog, YouTube said he was only announcing a new destination for television shows and improved the site to film, without giving further details. The deal also represents a thaw in frosty relations between YouTube and Hollywood, which has criticized the site for uploading unauthorized content in the past. YouTube, which was acquired by Google in 1,650 million dollars in 2006, is under pressure to start generating returns in line with its enormous popularity. More than 100 million users watch video on the site every month, according to the latest data from comScore, a firm that measures Internet audiences. YouTube, known for the low quality videos are uploaded by its users, has been unable to attract large financial commitments from advertisers reluctant to publicize their brands with amateur content.