The company was founded by three guys that have previously been employed by PayPal. They developed the website to make it simple for users to upload, view and share video clips. The clips are displayed using Adobe Flash technology and any unregistered visitor can see user-generated video content of almost every genre of movie clips, TV clips and music videos.
Registered users can upload an unlimited number of videos. Videos containing potentially offensive content are prohibited from uploading. This includes any subject matter that includes pornography, nudity harassment and defamation. Commercial advertisements are not permitted, but the slick corporate marketing departments have been quick to make clips with subtle promotion of their products disguised as amateur videos.
You Tube Facts
o On November 13th, 2006 Google Inc. closed a deal that gave it ownership of the social media company for $1.65 billion in Google stock.
o In 2007 it was estimated that You Tube consumes as much bandwidth as the entire internet in the year 2000.
o Approximately 13 hours of video is uploaded with high speed internet every 60 seconds in 2007
o 79 million users made over 3 billion video views in the month of January, 2008.
o Its bandwidth costs were in the range of $1 million a day by March 2008.
o As of Q1 2008, Google reported that You Tube was not profitable but a Forbes magazine article in June projected 2008 revenue to be $200 million.
o Early summer 2008 the cost to advertise on You Tube was $175,000 per day and a branded channel cost advertisers $200,000.
One of the biggest issues faces by the video giant concerns copyright laws. Users are advised to only upload clips for which they are authorized, but since You Tube does not view the clips before they are posted it is up to the copyright holder to issue a takedown notice. Viacom went to the extent of issuing a lawsuit demanding $1 billion in damages, stating that 150,000 unauthorized clips of its material had been viewed 1.5 billion times. Since then You Tube has implemented a system that checks video content against a database of copyrighted material. Beware high speed internet video "uploaders", in July 2008 Viacom won a court ruling that forces the online company to hand over details on the viewing habits of every user who has watched videos on the site.
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