Google Axes Paid Video Download Service
Press Release - August 14, 2007
Google Inc. plans to stop offering its download-to-own and download-to-rent paid video offerings tomorrow, according to an email sent to customers late last week.
The internet search leader began offering paid downloads of network television shows like “Survivor,” in January 2006, but largely stopped promoting the service after acquiring free video portal, YouTube later in the same year, catapulting its global market position from seventh to first.
Google’s decision to close its retail video business indicates that it has had less success selling content than attracting advertisers, whose spending accounts for about 99% of the search giant’s revenue.
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