Viacom said on Tuesday it filed a $1 billion lawsuit against Google Inc. and its acquired Internet video sharing site YouTube over unauthorized use of its copyrighted entertainment.
The suit accuses Web search leader Google and YouTube of "massive intentional copyright infringement" of Viacom's entertainment assets and seeks an injunction against further violations.
Every other media conglomerate has always taken the same approach to technology, "It will kill our business". They typically panic, overreact, try to kill the technology, accept it, and then figure out how to profit from it. It’s been seen over and over from cassette tape recordings of albums, to VCRs, and now digital media.
Every movie company said VCR's would kill their business. It was same with the rental of DVD's. It will kill the traditional movie industry. Instead, what it has done is create a HUGE revenue stream. Movies that are horrible, or niche, or just plain uninteresting often become very profitable in DVD release!
Viacom is a very big industry; it can take care of itself. The real losers of unauthorized use of copyright entertainment are the copyright owners who can’t afford to protect themselves. One way Google can do to make things better is to make sure they have permission from the copyright owner before the video is posted. Instead, tiny copyright owners who make a living based on their creative efforts have to do business the Gootube way. These owners don’t have the financial capability to sue Gootube and get something back in return. That is wrong and it always will be.
The Miscellaneous Ramblings Of A Saved Soul