Yahoo Chief Executive Terry Semel outlined his company's Internet TV strategy on Friday, saying that it wants to commission original content without copying existing TV networks, reports Reuters. He was speaking to a group of British TV executives and urged them to index their archives and add them to Yahoo's video search service. "Video search is a way to monetize some of the stuff that's lounging around in warehouses and hasn't made a dime for years," he said at the Royal Television Society conference in England.

Yahoo Google are each negotiating for the rights to TV content, but broadcasters are reluctant to give up control or lose out on advertising revenue. Semel said TV would continue to lose larger pieces of advertising money due to fragmenting audiences.

Also, since consumers are spending more time on computers, advertisers will go where the audience is, he said.