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News Summary 220110
Digital news this week had two important stories surrounding Google’s development of YouTube revenue streams and accusations levelled against the advertising standards of the alcohol industry in the UK.Google began renting movies online today (22 January) by hosting five movies from the Sundance Film Festival. Customers in the US can now pay to watch films online for a renting fee which gives them 48 hours access to the featured content.
From these small beginnings, Google has hinted that it will expand these services worldwide to include not only indie films but also major Hollywood blockbusters such as the upcoming Iron Man 2 or the new Harry Potter movie.
“While YouTube has offered an easy and economical way for filmmakers – as well as content creators of all kinds – to instantaneously connect with fans around the world, many of them have told us that the ad-supported business model doesn’t always meet their distribution and monetization needs,” YouTube wrote in their blogspot.
Whilst YouTube will continue to make money from online advertising, the new renating service is an important method of revenue generation for YouTube to explore.
Meanwhile, the alcohol industry in the UK hit back at a paper written for the British Medical Journal (BMJ) which criticised advertising practices that allegedly targeted underage drinkers and youth culture. Author Gerard Hastings said that the industry’s self regulation was not working and that young people were a target for alcoholic advertising campaigns.
In response, chief executive of the Portman Group David Poley told The Daily Telegraph: ““I wish Gerard Hastings would publish his criticism in an advertisement. The Advertising Standards Authority could then rightly ban it for being misleading.”
Online Advertising news posted by Lily Townsend on 22 January 2010
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