YouTube Offers Millions to Creators in Bid to Outduel Netflix

Google's YouTube is making a major push to win over video creators from Netflix as it seeks to keep audiences engaged amid the rise of streaming platforms. The company has reportedly offered millions of dollars to popular channels if they upload their videos exclusively to YouTube for a certain period, according to a Bloomberg report.

The reported plan comes as Netflix strikes deals with prominent YouTubers to post videos on both platforms, offering creators millions in additional payouts while helping them reach new audiences. As part of the plan, YouTube might penalize creators who sign exclusive deals with Netflix by excluding them from marketing campaigns and events, or not featuring them at all.

Despite two days of gains, Google's stock remains under pressure due to market volatility and sharp swings in tech stocks amid overvaluation fears. If the trend holds, GOOGL is headed for its third straight weekly decline, with shares already down 3.2% in August.