YouTube announced Friday that it would invest $5 million in promising video-makers.

“Our goal is to catalyze the creation of new ideas and production models from some of our most innovative and original content partners,” said George Strompolos, partner development manager at Google-owned YouTube.

“We’ve been amazed by the creativity and resourcefulness of many of our partners,” Strompolos said. “Some, operating on shoestring budgets, have been able to produce incredible videos, generate substantial revenues and command an audience that rivals that of network television.

“Despite their success, many partners lack the resources and deep financial backing available to studio-backed production houses,” he said. [Read more...]