NEWS: Youtube being challenged by Web Video newcomers

,Technology companies such as Facebook Inc.

, Snapchat, and streaming startup Vessel have been in negotiations with TV channel providers to begin offering prime-time programming on their networks. This is in response to Google Inc.'s

service YouTube which has secured premium video deals in recent months, including clips of the NCAA men's basketball tournament and NFL football games. The main way that web sites appeal to large TV providers is offering them large percentages of advertising revenue. Facebook has offered 65 percent of revenue to one media company, hoping to outbid rival YouTube who currently allows content providers to keep 55 percent of ad revenue. Snapchat and Vessel are employing the same strategy to dethrone YouTube, each offering 70 percent of revenue along with other incentives such as sharing subscription sales. Posting videos on YouTube and other streaming video sites gives TV providers access to an audience of billions of viewers. These large media companies have been frustrated with YouTube's policies such as having the same advertisement revenue percentage split as smaller video producers. This may be one of the reasons why even with 4 billion dollars in revenue YouTube was unprofitable for Google. Facebook is currently trading at $79.17, down 1.09 percent. Google is currently trading at $564.51, down 0.62 percent.