YouTube serves up classic TV

Viewers can now watch episodes from 'Gumby' or 'I Spy' as part of partnership deal with Digital Music Group.


NEW YORK (CNNMoney.com) -- Online couch potatoes will now have a lot more viewing options when watching the popular video Web site YouTube.

As part of a distribution deal announced Monday with Digital Music Group, Inc. (DMGI), YouTube will offer episodes of classic television series such as "I Spy," "Gumby" and "My Favorite Martian" as well as a portion of DMGI's music catalog.

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Shares of DMGI (up $1.16 to $4.91, Charts) soared on the news, climbing over 27 percent in Nasdaq trade Monday.

"We're very excited to introduce our video and controlled-publishing music catalogs to the largest audience for video content available on the Internet," Mitchell Koulouris, chief executive officer of DMGI said in a prepared statement."Not only is YouTube helping to promote independently owned content but will also provide a new revenue source for DMGI through online advertising."

The Sacramento, Calif.-based DMGI owns or controls the digital distribution rights to over 4,000 hours of video and controls the publishing rights for roughly 40,000 music recordings.

YouTube, which was purchased by Google Inc. (down $6.31 to $455.58, Charts) last year, has entered into a number of partnership deals recently with such media outfits as Warner Music Group (down $0.66 to $19.49, Charts), General Electric's (up $0.33 to $35.86, Charts) NBC Universal and CBS Corp. (up $0.01 to $31.69, Charts).

CBS former parent company Viacom (down $0.32 to $40.06, Charts), however, demanded last week that the Web site remove 100,000 clips from its MTV and BET channels after the two failed to reach a distribution agreement.


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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.