For all the skepticism, YouTube is increasingly becoming a source of income for old media. The music industry in particular has benefited, in several ways.For one, the Vevo music video site, in which Google has just invested a big chunk of money, is worth quite a lot to the record labels and brings in serious revenue.
The record labels also get quite a lot of money from the videos that use any song licensed by them. YouTube has an automated system which matches the song to its copyright owner and the labels get a cut from the ad money.
But this still only benefits the big players. Ironically, on YouTube, it's still old media that makes the most money.
That may change though, as a new startup, Audiam, is trying to get the same deal for independent artists as well. This way, anyone who has one of their songs used in a video will get paid.
The new company aims to help small artists, who don't have the time and the expertise to get money from the likes of YouTube. In exchange, the company takes a 25 percent cut.