Aug. 2 (Bloomberg) -- Yahoo! Inc., after losing out to Google Inc.'s YouTube, is revamping its video site by the end of the year to include more content from media companies and Internet users.
Music videos, movie trailers, television shows and sports highlights are among the features that will be available on the new site, Mike Folgner, Yahoo's general manager for video, said in an interview. Yahoo's Flickr photo-sharing site will also be adding video, he said.
``One of our strategies is to put video everywhere you are on the Internet,'' said Folgner, who joined the Sunnyvale, California-based company last year through Yahoo's acquisition of video site Jumpcut. ``We're going to build a much better destination for you to access all this different content.''
Yahoo wants to attract more visitors to its site at a time when more than 130 million Americans are viewing online video, based on ComScore Inc.'s May figures. Of the 8.36 billion streams viewed that month, Google, which acquired YouTube last year, accounted for 22 percent, Reston, Virginia-based ComScore said. Yahoo was third at 4.6 percent, behind News Corp.'s Fox pages, which includes social-networking site MySpace.
Shares of Yahoo, owner of the most-visited U.S. Web site, rose 11 cents to $23.36 at 4 p.m. New York time on the Nasdaq Stock Market and have dropped 8.5 percent this year. Shares of Mountain View, California-based Google slipped $1.93 to $511.01.
Yahoo has deals in place to use music videos from record companies including Universal Music Group, owned by Vivendi SA, and EMI Group Plc, whose artists include Norah Jones and Radiohead, Folgner said. News services including the Associated Press and CNN will provide content along with sports leagues such as the National Football League and Major League Baseball.
``We already have a lot of these deals,'' Folgner said. ``We just don't service them in one place so you don't see them. We'll be able to drive a lot of traffic at this.''
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