Grade Says YouTube Is A “Parasite”

ITV’s executive chairman Michael Grade has branded YouTube a “parasite” that lives off the broadcaster’s £1 billion-a-year content and says he doesn’t see Google as a threat.

Speaking to Ray Snoddy in a pre-recorded interview for the IBC technology convention, Grade said: “The day that Google or Joost or any of these people start investing £1 billion a year in UK content is the day I’ll start to be worried.”

He added: “They’re all parasites, they just live off our content is what they do. As long as we can create the content, the content is the keys to the castle for us going forward.”

Grade said he believes that ITV has a long-term future because of their “content skills”.

ITV’s share price has recently dropped and Grade is under increasing pressure as rumours spread about a potential takeover by Endemol or Mediaset.

He said: “Whether we can survive as an independent company is a matter for our shareholders. They will decide in the end on such questions.”

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