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YouTube advances cash for 60 more original channels in Europe and the US

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Google pulls in nearly $2 billion a year in YouTube advertising revenue, but that's still a drop in the bucket compared to the $60 billion earned by broadcast networks. To rely less on viral cat videos or "Gangnam Style" breakouts, the company has announced that it's advanced funds to content producers like Jamie Oliver and Michael Cera to create 60 new original channels in France, the UK, Germany and the US. That's in addition to the 100 channels it already created last year, and Mountain View also said it would take that original launch up a notch in 2013 by providing even more funds to the most successful efforts by artists like Jay Z and Amy Poehler. The company didn't say exactly how much cash would be raining down to all those channels stateside or abroad, but considering the amount it recently spent just marketing them, you may want to pull the trigger on that new cinema camera, after all.

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