YouTube bows out of race with Netflix; cancels expensive dramas, comedies

The retreat from direct competition with Netflix Inc and Amazon.com Inc's Prime Video service reflects the high cost -- in billions of dollars

YouTube has cancelled plans for high-end dramas and comedies, people with knowledge of the matter said, a pullback from its grand ambitions for a paid service with Hollywood-quality shows.

The Google-owned business has stopped accepting pitches for expensive scripted shows, said the people, who asked not to be identified because the decision hasn’t been announced. The axed programs include the sci-fi drama “Origin’’ and the comedy “Overthinking with Kat & June,’’ prompting their producers to seek new homes for the shows, the people said.

The retreat from direct competition with Netflix Inc. and Amazon.com Inc.’s Prime Video service reflects the high cost