YouTube users are ready to cash-in as revenue sharing is added to popular site. Soon, selected members who upload video will be given the opportunity to make money through ads.
Last year user-generated content exploded on the online scene and popular sites like YouTube, MySpace and DIGG thrived with millions of users. Later sites like Digital Journal and Revver.com took a new angle and began sharing revenue with their users, well it looks like the rest of the user generated content community is catching on and joining in on the fun.
YouTube officially announced today that they will start sharing revenue with its millions of users.
Although it is still unsure how the details on how much users will be paid or how it will work in general the buzz is buzzing and people are talking. Potential for big money earning is huge.
Sites like Revver.com have been sharing ad revenue with users for quite some time now, attaching short advertisements to the end of videos that pay the video poster each time someone clicks on them. The problem in creating real income is that Revver has nowhere near the audience that YouTube does. YouTube videos receive thousands, hundreds of thousands, even MILLIONS of views for everything from cats playing a piano to personal vlog (video blogs) by people from their own homes.
Does anyone remember the explosion of YouTube user geriatric1927?
His profile exploded when he first started posting video blogs about his life last year? This man, an 80 year old in his home with a webcam quickly became the most subscribed to channels on the site, was featured on TV news stations and had an overwhelming amount of views and online activity. Now, if he could have attached some revenue to that initial swarm of users there's no telling how much money he may have made as a result and without much effort.
Google, the main player in online advertising currently no doubt have some creative ideas about how and why users will be paid I'm sure. There are several potentials ways that user's could be paid that immediately come to mind. By views, by clicks on ads added to the videos, by being favorited, subscribed to or being shared. Until details of the share model come out I'm expecting rumors to run like wildfire.
The potential is huge because the audience is huge. I for one will be interested to see how this new system works. Remember that video of the cat that falls of the couch that for some reason got 3 Million views? Um, cha-ching!
"We are getting an audience large enough where we have an opportunity to support creativity, to foster creativity through sharing revenue with our users," said YouTube co-founder Chad Hurley. "So in the coming months, we are going to be opening that up."