These two short sentences summarize the great potential as well as massive legal confusion surrounding online media:
The big media companies shouldn’t worry that people will post their copyrighted material on YouTube. They should worry that people will post their own stuff on YouTube, and audiences will watch that instead.
It always amazes me when companies waste money and resources to have all the 3 minute clips of their shows removed from Youtube and similar websites. It seems counter intuitive… The same network that mercilessly hunts down short user uploaded clips on video sites is willing to pay thousands of dollars to air a very similar teaser clips on other networks as part of their promotions. Where is the logic here?
Big media totally underestimate the power of viral advertising. Yes, Snakes on the Plane flopped at the box office but this was simply due to the fact that the movie itself sucked big time. But no other movie in the history of cinema has generated so much hype.
YouTube and similar sites are the places you go to get free hype and viral advertising! A simultaneous digg, slashdot, boingboing and fark front page appearance, combined with links from multiple A bloggers can get your message to more people than a multi million dollar advertising campaign.
[tags]youtube, advertising, viral advertising, hype, media, paul graham[/tags]