YouTube planning to share revenue with users
DAVOS, Switzerland (AP) — YouTube co-founder Chad Hurley made news at a meeting of some of the globe's most powerful people Saturday, announcing that his wildly successful site will start sharing revenue with its millions of users.
Hurley, who became fantastically rich in November when the company he started was bought by Google for $1.65 billion, said one of the major innovations that the site is working on is a way to allow users to be paid for content. YouTube has become an Internet phenomenon since it began to catch on in late 2005. Some 70 million videos are viewed on the site each day.
"We are getting an audience large enough where we have an opportunity to support creativity, to foster creativity through sharing revenue with our users," Hurley said. "So in the coming months we are going to be opening that up."
Hurley, one of the youngest Internet multimillionaires, gave no details of how much users might receive, or what mechanism would be used.
It won't be the first site to offer such a deal. In October 2005, Revver announced plans to attach advertising to user-submitted videos and give their creators a cut of the profits.
Revver has said it would split the ad revenue evenly with content creators.
Hurley said that when YouTube started, he and the site's other co-founders — Steve Chen and Jawed Karim — felt revenue-sharing would build a community of users motivated by making money, rather than their love of videos.
But that as the site has grown, they have come to see financial remuneration as a way of improving content.
Hurley spoke on the last full day of the World Economic Forum, which brings together the world's political, social and business leaders for a five-day schmooze fest on the problems facing the world.
At 30-years-old — a milestone he reached only this week — Hurley is one of the youngest participants at the meeting.
He appeared on a panel that included another bright new face in the Internet, Flickr co-founder Caterina Fake, as well as Microsoft Corp. chairman Bill Gates and others who discussed the future of Web. 2.0.
Fake's photo-sharing start-up was bought by Yahoo, and is the fastest growing photo site on the Web.
The panel discussed the incredible potential of the Web to bring the world closer together, with Gates saying that he saw particular potential for education and health care.
But they also talked about the challenges ahead, including how to protect intellectual property and set up a system of micropayments that will make it easier for companies to charge for content, as well as ways to protect privacy.
The panel also discussed the dangers of another phenomenon of the wired world, the rapid posting on Internet sites of cellphone videos like that of the hanging of former Iraqi dictator Saddam Hussein hanging that can cause outrage and unrest, and are virtually impossible to control.
[quote author=crazyduckme link=topic=177063.msg3770321#msg3770321 date=1282314647]
I told Brandon.... we can try it out once we're married. that's just my rule.
and I dun look mexican, do I?