Google Buys Video Leader YouTube for $1.65 Billion
October 09, 2006
San Bruno, CA - Search-engine behemoth Google has reached an agreement to buy the mega-popular video-sharing website YouTube (started in February 2005) for $1.65 billion in stock, according to news sources. The purchase would be Google's largest acquisition to date.
Announcement of today's expected purchase follows reports indicating both companies have obtained initial licensing deals with media companies regarding site content, which may help ease percolating concerns about copyright violations in connection with videos displayed. YouTube says over 100 million videos, including short clips only a few minutes or less in duration, are downloaded from its site every day.
YouTube, according to The Wall Street Journal, "will at least initially retain a significant measure of independence, keeping its brand and offices. YouTube will continue to be based in San Bruno, Calif., and all YouTube employees will remain with the company."
As recently as July, WIRED magazine declared "Video Unlimited" as #2 among six world-changing trends. The article spotlighted the surging demand for online video in everything from music videos and popular TV shows to all new and original content.
Race to the Web Brings New Business to WEVA Members
The scramble among major corporations to get video on the Web, a global trend recognized over a year ago by Wedding & Event Videographers Association International (WEVA), has been the driving force behind the association's efforts “to bring our membership into the picture worldwide,” said WEVA International Chairman Roy Chapman.
“The WEVA membership is ideally suited to help corporations large and small get content onto the Web quickly and affordably. In fact, this is already underway through WEVA’s strategic initiative with ImageSpan."
Last week ImageSpan, a worldwide automated rights management company, announced the first round of weekday shoots for WEVA members through “Curbstream” will begin this month in the Midwest.
An agency order placed through a division of Omnicom, a global leader in advertising and marketing, is being fulfilled by WEVA members who will shoot corporate assignments for an auto sales group based in Missouri.
Imagespan CEO Iain Scholnick relates this initial weekday work will be the springboard for the rest of the agency’s clients who want and need local video content to support their national brands. For more information click here. Industry News is a service of WEVA International.
About Wedding & Event Videographers Association International
The world's largest trade association for professional wedding & event videographers, WEVA International is dedicated to advancing the professional interests of videographers worldwide through continuing education, technical support, group benefits, advocacy committees, and professional development training.
Membership also includes ongoing videographer accreditation, marketing tools, industry resources, and global networking at the annual WEVA Wedding & Event Video Expo the wedding & event video industry’s biggest convention and trade show.
Join WEVA now to access valuable association membership benefits, including new job opportunities. For more information about WEVA EXPO 2007 and all other benefits, including affordable Equipment and General Liability Insurance, Errors & Omissions Insurance, and the new Equipment Financing Program for videographers, contact the association at 941-923-5334 or email: [email protected]
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