When YouTube was hailed as "The New Hollywood" it seemed as though the golden age of online video had arrived. Ordinary people were becoming stars, video was being democratized, from retro to cult to niche if ever there was a place where content was king it was the kingdom of YouTube.




While discussion of the "Greatest TV Drama Ever" can range from Breaking Bad to The Wire or from The Wire to Breaking Bad, YouTube offers literally millions of videos and each user likely has their own favourites.

Of course the ludicrous freedom and variety was supported by a sophisticated and successful revenue model, with ad placement making YouTube its earnings. A figure of likely $5.6 billion in 2013, which is not too shabby. YouTube hit upon an irresistible offer for content creators, the chance to take home 55% of the profits from advertising around their videos, while YouTube takes a 45% cut. That's 55% of something (and potentially a lot) or 100% of nothing. It's an easy choice, one that made likes of PewDiePie millions of ad dollars for playing games and just generally putting himself on display.

Now YouTube seeks to offer premium models to diversify the experience and take some profit from the growing revenues of streaming services for both video and music. With many major labels comfortably tied into deals with YouTube already through publishing companies like music-only Vevo, smaller independent labels are fighting tooth and nail with YouTube claiming the terms they're being offered are unfair. YouTube's wielding its power by threatening to remove the videos from these labels already on the services. While one could argue YouTube is bullying the 'little guy' it's also fair to point out being able to have your wares in the shopfront that is YouTube has been a massive advantage for the labels.

The effects of YouTube go far beyond making some people very rich though, as exemplified by one lawsuit filed by Ghyslain Raza who claimed the sharing of his video had 'ruined his life'. Not a name you recognise? You may know him as Star Wars kid. Appropriately he's now a law school graduate - specialising in cyber bullying.



From an often bizarre mishmash of poorly executed oddities YouTube has grown to be possibly the most dominant force in video on the planet, which is remarkable seeing as it was only started in 2005. Simply if you want a video online, overwhelmingly you go to YouTube (unless you're artsy enough to use Vimeo). Now it'll even support HD 60fps, offering Blu-Ray level quality from a little box on your browser. More than that though YouTube can wield the monolithic power of a media giant, decreeing what will and will not be happening (or seen) in online video - perhaps even video in general. Much like Google, YouTube has gone from being a relatively passive curator to an active director of content, making rules and distinctions and sub-levels as it goes.



An odd sandpit where the likes of Billy in his bedroom with some pirated animation software and the cheapest midi keyboard he could find on Ebay can outdo Michael Bay and a billion dollars of exploding this and that. YouTube has the challenge to find a balance between its impeccably slick, media-dominating money-making aspirations and the interests and preferences of possibly most engaged large community on the web.

But with Google at the helm, who've shown an adeptness at growing huge and all-powerful while still remaining relatively well liked, YouTube stands a decent chance of juggling all those balls at once - if taking the odd swipe at some of the pillars of traditional media along the way. As long as it does there'll be a fair few more hits the like of "Leave Britney Alone" and "Nyan Cat" yet.