Viacom’s Court Loss Could Make YouTube Profitable
Today a judge threw out a $1 billion copyright lawsuit filed by Viacom against YouTube. This lawsuit has been dragging out ever since Google bought YouTube. YouTube is now protected by the Digital Millennium Copyright Act. Essentially Viacom could not prove that YouTube failed to remove video clips after being notified about copyright infringement.
“This is an important victory not just for us, but also for the billions of people around the world who use the web to communicate and share experiences with each other. We’re excited about this decision and look forward to renewing our focus on supporting the incredible variety of ideas and expression that billions of people post and watch on YouTube every day around the world,” stated Google VP and General Counsel Kent Walker.
Now that this major obstacle has been removed, there is a good chance that YouTube could be profitable. This is huge news since the last time I heard, YouTube costs about $2 million a day to keep online based on storage and distribution costs.
[FT.com]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry