Google to finance $100 million worth of original programs for YouTube

Google plans to create 20 special channels on its YouTube site, and will spend $100 million to create original programming to populate them, according to sources who talked with the Wall Street Journal.

Like Netflix announced last month, Google wants to create its own streaming video programs, however, according to the WSJ sources, the company will create low-cost programming designed specifically for the web and YouTube, and support the shows with advertising.

The sources said this will be a "major overhaul" to YouTube, which already has a lucrative advertising system in place.

It was unclear when Google would begin spending the money to create the new programs, but the source said that Google has visited top Hollywood talent agencies in search of ideas, and will probably end up making deals with production companies and directors to produce the content.

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