YouTube to Financially Support Amateur Video29 Jan, 2007 By: Erik Gruenwedel
Chad Hurely, co-founder of community video site YouTube, is seeking ways to compensate uploaders of content as a means to improve the quality of its streamed videos.
Acquired last year by Google Inc. for $1.65 billion, YouTube reportedly streams about 70 million videos each day.
Speaking last weekend at the World Economic Summit in Davos, Switzerland, Hurely said YouTube would soon be “opening … up” with financial resources and revenue sharing plans to support aspiring videographers.
The 30-year-old entrepreneur didn't elaborate on how any rev-share programs might work or when they would be initiated.
Hurley told attendees that he and YouTube co-founders Jawed Karim and Steve Chen originally believed their video-sharing site would be primarily prefaced by users' desire to make money.
Now the three see financial remuneration as a way to improve the quality of the content in addition to the bottom line.