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Google Chairman and CEO Eric Schmidt said Tuesday that it will take time for the company's recently acquired YouTube online video-sharing service to become a major source of sales and profits for the company.
Speaking at an industry conference, Schmidt also said Google and YouTube are working with big media companies to resolve copyright issues regarding content owned by the media firms that's posted on YouTube without the media firm's consent.
Google chairman and CEO Eric Schmidt said the company's deal for YouTube is working well but that it will take time for the site to generate meaningful sales and profits.
Google CEO Defends YouTube Purchase [money.cnn.com]
$1.5billion for a site that for most users is about uploading what they like when they like...which will become more and more dependent on agreements and partnership deals - then the users disappear to myspace or facebook or bebo or.....
Recent social 2.0 are gaining massive share within months - not years.
I would have spent cash in lots more ways before buying YT.
That's a very good comparison, it showed just how a site based mainly around piracy can go from the heights of popularity to the depths of obscurity once the copyright holders start getting tough.
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