Alphabet's (GOOGL) - Get Report YouTube during the Cannes Lions Advertising Festival on Friday said that it would begin targeting television advertising revenue for its premium content.

"We are now offering premium programming in front of the paywall and we've announced a new slate of original programming that's advertiser [supported] video-on-demand," said Susanne Daniels, YouTube's original content chief.

With roughly a billion unique visitors coming to the video streaming site per day, YouTube has transformed into a global platform, Daniels added.

The massive amount of unique users, coupled with the expansion of premium content is opening new advertising opportunities for YouTube.

With this premium content, Daniels contended, there's no question YouTube is going after TV ad dollars. "There's one bucket of money and the digital platforms, yes, are competing for TV ad dollars that were previously exclusively TV ad dollars." 

What's Hot On TheStreet:

Well OK then, Jeff Immelt: General Electric's (GE) - Get Report outgoing CEO Jeff Immelt had some choice things to say at an event in NYC on Thursday night, TheStreet's Kinsey Grant reports. First, Immelt revealed a possibly fatal management mistake Kroger's(KR) - Get Report CEO might have made about Amazon(AMZN) - Get Report who as we all know, just inked a $13.7 billion deal for organic grocer Whole Foods (WFM) . Immelt then took a jab at Hillary Clinton and Barack Obama for not visiting factories in their push to lift manufacturing wages. Talk about a well-paid boss going down swinging.

Why Sears Canada is dying: Sears Canada (SRSC) has one foot in the grave just like its ailing U.S. friend Sears Holdings Corp. (SHLD) . Unfortunately for Sears Canada, it's that friend across the boarder that has played a large role in its demise, TheStreet's Michelle Lodge reports. Sears has sucked badly needed cash away from Sears Canada through the years, leaving it unable to upgrade stores and do other things to compete effectively in the always challenging Canadian retail market.

General Electric is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GE? Learn more now.

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