Viacom Inc., which owns MTV, Comedy Central, VH1, and Nickelodeon, today sued YouTube Google for $1 billion in damages over claims of copyright infringement. Link to story via msnbc, here's the BBC's. (thanks to the many people who suggested this.)
Reader comment: Richard Boese says,
Viacom says, "There is no question that YouTube and Google are continuing to take the fruit of our efforts without permission and destroying enormous value in the process (…) This is value that rightfully belongs to the writers, directors and talent who create it and companies like Viacom that have invested to make possible this innovation and creativity."
Do they really think watching a short clip on a 4inch embedded screen is going to rob anyone of their "value" input? YouTube is just about the best kind of advertising I know and I've bought a good number of DVDs off the back of viewing clips there.
Ryan says,
Is Viacom even *worth* $1B? Their crappy programming sure isn't.
Gerard Hughes says,
Since Viacom is sooo concerned about the "value that rightfully belongs to the writers, directors and talent," I'm wondering exactly how much of the 1 billion dollar lawsuit they are earmarking for "writers, directors and talent who create it." Just a guess here: none.
Corporations love to opine on how piracy hurts the little guy even as the biggest threat to little guys everywhere would seem to be the giant corporations.
ebenezer says,
In response to Ryan's comment "Is Viacom even *worth* $1B?" — Viacom's market capitalization is currently approx. US$27.3 billion and in 2006, the company recorded revenues of US$11.5 billion. Link.
