YouTube has denied reports that it is exiting the space of original entertainment, especially of 'high-end dramas and comedies' and had stopped accepting pitches for 'expensive' scripted shows.
Read: YouTube No Longer a Competition to Netflix, Amazon; Cancels Expensive Hollywood Shows: Report
Variety quoted a representative of the Google-owned video service as saying: "YouTube denies the report." YouTube cited its upcoming slate that has several scripted projects in development, which will be unveiled in the next few weeks.
"YouTube is steadily building its SVOD business, while also developing new series and formats that will appeal to a global audience through a new ad-supported model, which will be in place for all of our series and events by the end of the year," the representative said.
However, YouTube has cancelled plans for two shows it had in development -- a 10-part sci-fi series Origin and a half-hour female buddy comedy Overthinking with Kat & June. The disassociation will force the producers to look for alliance partners in other streaming services that can afford the production, studio and advertising costs that accompany these Hollywood productions.
According to the representative, YouTube is in fact open to pitching for more scripted projects, but "right now we are focused on our current slate".
That includes Cobra Kai, a reboot of the Karate Kid, as well as Impulse, Liza on Demand, Escape the Night and Step Up: High Water.
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