Alphabet Inc. Class C (GOOGL.US) Streamlined Media Strategy: TV Team Budgets Cut by 10%, Business Focus Shifting to YouTube

According to informed sources, Alphabet Inc. Class C (GOOGL.US) has reduced its budget for the Google TV and Android TV teams by 10%. The sources said that the team's budget was originally less than $500 million. Informed sources revealed that this budget cut may affect about a quarter of the team's approximately 300 employees. Reports suggest that the same team is expanding in other regions such as India and plans to restore the team size to around 300 employees or more by hiring in other areas. Sources said that Alphabet Inc. Class C is shifting its focus on its television business towards YouTube, as the platform has become a top streaming service in the United States. The company is considering leadership adjustments and is seeking to increase revenue from various subscription services on the platform, including cable-like TV and music services. Earlier this year, YouTube attempted to recruit a replacement for Lori Conkling, the global head of TV, movies, and sports partnerships, who had left to join Netflix. A source familiar with YouTube's plans said that the company's leadership is discussing hiring or promoting a senior executive who may eventually succeed Mary Ellen Coe as the platform's chief business officer, and is likely to be responsible for all paid subscription products on YouTube. The source stated that Chris Ostrander, the Vice President of Product Management for YouTube TV and infrastructure, is a strong internal candidate.