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No matter which way you look at it, Google’s attempt to spin the partnerships with CBS, Lionsgate, BBC, MGM, Starz and Sony Pictures as a commitment to profitably monetize the YouTube, isn’t believable.

Other Google sycophants have joined in the chorus, singing the same tune.

The reality is of course the property is weighing the company down, but the hype surrounding the acquisition and the resultant bragging of being the No. 1 online video site makes it difficult, if not impossible, for Google to just get rid of YouTube or shut it down. The backlash would be extraordinary, and it would take a big hit.

So they’ve got to make it look like they’re trying to do something to make the video site seem to have a future, even though it’s costing millions in losses to keep it running.

Shareholder backlash has been stirring for some time, and pressure is mounting for either making it profitable, cutting costs, or simply getting rid of it.

The current economic slowdown doesn’t help either, as advertising has been cut back, further putting pressure on Google execs to do something with YouTube.

In the end, even though Google acquiring YouTube was considered a major coup at the time, the reality is it’s a disaster, and all they can do is throw continuous business models at the site, hoping something will stick, and eventually, at minimum, cut their losses.

Taking into account Google gave up a lot of control to land the deals with the entertainment industry majors, such as the films being run in a Sony Pictures video player from Crackle, rather than their own, is a confirmation on how desperate the company is to do something about the surging costs and losses in keeping YouTube. In this case, Google won’t even be able to be credited with video traffic, Sony Pictures gets that honor.

Spin it however they like, there’s no doubt Google got screwed with the acquisition of YouTube, and they’re stuck with that for a long time ahead.

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