For the longest time, YouTube was known as the place to go for grainy home videos of the funny, the incredible and the mundane. Now the site is an Internet staple. Big brands rely on it for their marketing efforts. Entertainment companies use it to introduce upcoming projects. Everyday people have stepped up their game, making it the place for not just low-budget clips but higher-production videos that have the capacity to go viral in a major way.
And now that MTV doesn’t really show videos anymore and fans haven’t made the shift to networks like Revolt and Fuse at a tremendous volume (that, of course, could change), YouTube has become a key online place for music videos. So it was a big blow to indie labels when they were faced what’s being called an “ultimatum” from YouTube.
“Indies were rankled most by what appeared to be an ultimatum by YouTube, with the company telling labels that they would remove advertisements on their music videos, the service’s principal revenue generator, if they refused the contract’s terms, cutting them off from a stream that generates hundreds of millions of dollars for labels each year,” reports The Hollywood Reporter.
When did YouTube turn into a grumpy old man?
The video site now seems to be changing its tune (according to Financial Times, sub req’d), which is a good thing for its street cred.