YouTube is Australia’s most profitable video company. It wants even more TV dollars

Welcome to an end of week update. Today: First thoughts on last night’s annual YouTube Brandcast extravaganza for advertisers, and new market lows for IVE Group and Southern Cross Austereo.

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YouTube has eaten the TV industry’s breakfast and lunch. Tonight it will be eating its dinner

Tim Burrowes writes:

Eight days after Nine’s upfronts, it was back to Sydney’s Hordern Pavilion to hear from the company doing more than most to put Australia’s television networks out of business. It was the turn of the YouTube Brandcast event.