It seems that YouTube will have some competition later on this summer as Yahoo is set to debut a new video service that’s designed to compete with the video sharing giant, according to AdAge.
There was some information that came came out, which claimed Yahoo was interested in having its own video streaming site back in March.
The company is already approaching many of the popular content creators that partner with YouTube.
The main popularity for YouTube is that people were promised a larger share of revenue on videos, says VentureBeat. This is something that was very recently announced that allows people to crowdfund new channel content on YouTube.
Yahoo made an attempt to acquire a video service last year, but came up short in that endeavor, when they tried to get DailyMotion for around $300 million.
The company executive Marissa Mayer has said numerous times the company wants to increase its online presence with video content, this would allow it to have more revenue from video ad spending.
In the past year, Yahoo signed a very exclusive deal to run Saturday Night Live content, and they also received a huge boost in media talent by hiring news star Katie Couric.
For what the future holds, there are sources within AdAge that say Yahoo had plans to unveil the rival to YouTube last month, but there were some contract negotiations that delayed those plans.