YouTube Pays Out $1 Billion To Copyright Holders In 7 Years
Google-owned YouTube has paid out a whopping $1 billion to copyright holders in the last seven years according to nbcnews. This is all part of the company's Content ID program, which the parent company, Google explains scans 400 years' worth of content virtually every day for issues related to copyright.
Google snapped up YouTube in 2006, for a whopping sum of $1.65 billion, despite concerns of over copyright issues at that time. At that price, YouTube was the least lucrative business the company had invested in, after investing in fifteen other companies prior to the takeover of the video company, which also attracted other suitors.
Questions were raised by experts as to the profitability of the acquisition; Google nonetheless saw things differently and has continued to make good its promise of transforming it.
This did not however; stop investors from commending Google's decision to acquire as YouTube as the company's shares climbed YouTube$8.50 to close at $429 on the Nasdaq Stock Market, and then added another $3.11 in extended trading.
Shortly after the acquisition, Google developed Content ID, which compares videos and songs to original copies provided by owners of such rights. This was introduced by the company to cut down on several complaints that bother on copyrights, which back then was a major issue with YouTube. A lot of major television networks and record companies had raised copyright issues, and were unhappy about infringements.
Google's move paid off as it gave television networks the opportunity to decide what they want to do with violators. It was a choice of whether to shut down or make profits off them by running advertisements against their content and keeping the profits.
To this end, major Content ID's 500-plus partners decided to monetize rather than place a total ban on videos that violate copyrights. This perhaps, explains the reason why the entertainment world stopped raising issues about YouTube to awarding it a €Primetime Engineering Emmy Award last year.
The arrangements benefited contents owners in so many ways including giving them the right to decide €whether or not others can reuse their original materials,' Google revealed as part of the rules guiding the use of contents on YouTube.
€It's up to copyright owners to decide whether or not others can reuse their original material. In many cases, copyright owners allow the use of their content in YouTube videos in exchange for putting ads on those videos.€
Google snapped up YouTube in 2006, for a whopping sum of $1.65 billion, despite concerns of over copyright issues at that time. At that price, YouTube was the least lucrative business the company had invested in, after investing in fifteen other companies prior to the takeover of the video company, which also attracted other suitors.
Questions were raised by experts as to the profitability of the acquisition; Google nonetheless saw things differently and has continued to make good its promise of transforming it.
This did not however; stop investors from commending Google's decision to acquire as YouTube as the company's shares climbed YouTube$8.50 to close at $429 on the Nasdaq Stock Market, and then added another $3.11 in extended trading.
Shortly after the acquisition, Google developed Content ID, which compares videos and songs to original copies provided by owners of such rights. This was introduced by the company to cut down on several complaints that bother on copyrights, which back then was a major issue with YouTube. A lot of major television networks and record companies had raised copyright issues, and were unhappy about infringements.
Google's move paid off as it gave television networks the opportunity to decide what they want to do with violators. It was a choice of whether to shut down or make profits off them by running advertisements against their content and keeping the profits.
To this end, major Content ID's 500-plus partners decided to monetize rather than place a total ban on videos that violate copyrights. This perhaps, explains the reason why the entertainment world stopped raising issues about YouTube to awarding it a €Primetime Engineering Emmy Award last year.
The arrangements benefited contents owners in so many ways including giving them the right to decide €whether or not others can reuse their original materials,' Google revealed as part of the rules guiding the use of contents on YouTube.
€It's up to copyright owners to decide whether or not others can reuse their original material. In many cases, copyright owners allow the use of their content in YouTube videos in exchange for putting ads on those videos.€
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