ITV executive chairman Michael Grade had some pretty strong things to say about YouTube and services of its ilk at IBC this week, calling YouTube a “parasite”, Grade stressed his belief that ITV has a long-term future.
So why is YouTube a parasite, and how come there’s a future for television? In truth, like everything else, the secret is content, the executive explained. YouTube’s success is based on living off content created by broadcasters including ITV Grade maintains.
“The day that Google or Joost or any of these people start investing £1bn a year in UK content is the day I’ll start to be worried,” he said.