There was a pleasant surprise for all users of YouTube. Itâ€™s time now for everyone to start minting with the videos you upload. An announcement was made at the World Economic Forum in Davos, Switzerland by Chad Hurley â€“ cofounder of YouTube.
YouTube founded in Feb 2005 allows users to do free video sharing. Its popularity began to rise by the end of 2005 and has reached a phenomenal mark where almost 70 million videos are viewed everyday. Its popularity made it to enter in Time Magazine as the â€œInvention of the Yearâ€ for the year of 2006 and is now a part of Google Inc. since last November after it was sold for $1.6 billion.
Hurley was quoted saying that they will soon be paying the users on the content. They have a large number of users who submit original content each day and YouTube would now want to acknowledge there efforts by sharing there revenue with them. However, the details as to when, how and on what criterion the money will be given was not revealed. It may be little late as well as other competitors of YouTube like Revver.com has already started improving its content by giving financial remuneration for the content they upload. They attach advertisements to the user submitted videos an give there creators a share in the profit. YouTube would also be following on a similar kind of package for its users. The concern in this would be to identify the creator of the video. Most of the videos which are being shared are not from there original creators and are being shared violating the copyright Laws. The videos include home made videos, TV shows, music gigs, sports events and many more. Joining hands with Google has unleashed a leader in video sharing which is keen on improving itâ€™s already varied and vast customers experience.
YouTube is not prescreening its content. But, if it plans to share its revenue only with the original creator then it will have to start doing it. Letâ€™s watch our step and wait till we hear it from YouTube official release about its profit sharing with the video submitters.