YouTube, you rich

An example of a collaborative media growing with astronomical speed . . . YouTube. I saw this Forbes list of the top 10 disrupters of 2006, and thought it really illuminated the power of wiki technology (which YouTube could be considered!)

YouTube infamously got media giants to bow at their feet and relinquish control over video content – further showing how sharing and collaborative posting are what matter in our "new mediated" world to a new generation of onliners. Also, note the cash Google forked over to YouTube founders for ownership . . . $1.65 billion. Wow. And the guys who started YouTube are only in their 20's. Make you feel a bit under-accomplished?

This is a type of video blog between YouTube contributors. Its the future of YouTube, WeTube.

YouTube is definitely a force to be reckoned with. It has influenced tremendous media, political, and economic changes. One incident in particular I found interesting was the George Allen scandal. YouTube posted the video where Allen refers to his opponent's camera man as a "macaca." He only lost to Webb by 7,000 or 8,000 votes, indicating the impact of YouTube can change even the outcome of a political election.

Understandably it seems as though YouTube has control over most of the media which it streams to its millions of viewers, however this may not be the case in the near future. Youtube has content deals with 3 of the 4 major record labels, but only has one agreement (I believe) with a major TV network (CBS). Recently, Viacom, owner of MTV networks, demanded that youtube take down 100,000 videos. My point is only that I think youtube and other video streaming services have a way to go before we can say that web 2.0 has taken control of traditional media. There is debate whether online advertising will properly compensate the media networks whose content youtube wishes to share with its users. I think traditional media companies are trying as hard as possible to delay the upcoming coup, or in some cases have simply denied it.

Whenever I hear about something on the internet becoming big, e.g. Youtube or Facebook or (what seems an age ago) Napster, I also always hear how young the creators of such are.
But I guess it shouldn't be surprising, many of the adults I know in their 30's and 40's don't seem to have the know-how to be able to keep up with today's fast-changing technology. Which puts a lot of the power of creation and manipulation of New Media in the hands of people in their 20's or younger.