IAC/InterActiveCorp Chief Executive Barry Diller has announced future plans to invest heavily in internet programming directed towards professionally produced entertainment rather then user-generated outlets such as YouTube.
IACs' preference inevitably sprung from Diller's questioning of YouTube's drive to get big media companies to distribute their entertainment with the popular video sharing network.
YouTube has had difficulty reaching agreements with production companies and just recently Viacom asked for the removal of 100,000 of its videos from its site.
Reuters quoted Diller saying "Media companies are saying 'We're not going to let you (YouTube) get so strong in distribution, I think you're going to see a domino effect on this."
Exactly how IAC plans to invest the "hundreds of millions of dollars" was not specified but Diller's bet that professionally produced entertainment would trump user-generated content in viewership was dependant upon the right payment model and availability.
IAC currently owns and operates internet giants HSN, LendingTree, Collegehumour, Ask.com, Tickemaster and Citysearch.
