The World Economic Forum’s annual meeting in Davos Switzerland took place between January 25-29th. Today, I discovered some great footage from that meeting on YouTube, which dovetails nicely into my blog from Friday, in which I made several predictions for mobile in 2008. In the video, Chad Hurley, Co-Founder of YouTube, talks about some of the exciting things that lay ahead for YouTube:
For those of you who don’t want to watch the video, the key points are that YouTube is planning to monetize video submissions for users, and they’re creating an audio engine, which will recognize songs that users have overlaid on top of their videos. Once the song is recognized, YouTube will enable viewers/listeners to purchase the said song(s) through legal means and give a commission on the sale to the person who posted the video that uses the song.
My blog on Friday talked about the rise in popularity of monetizing video submissions of things like news events from mobile phones in 2008. I think it will be really interesting to see if/how YouTube does this. Will they be like Revver, monetizing videos by the number of hits they receive/ ad revenue generated, or will they go a slightly different route and charge networks/ news agencies to re-purpose YouTube videos on other formats and pay those who submit videos a portion of the proceeds?
I also wonder how closely YouTube’s audio cross-selling/ commissions based approach to music will mirror what social networking and mobile OS company, Glide Mobile announced with The Orchard in March 2006. Stay tuned…