Viacom is wrong
The video industry doesn’t seem to have learnt anything from the music industry. A few years ago the music industry tried to stop all music download websites (no, not just websites, but the whole damn business). They took the approach of trying to sue the up coming juggernaught of a new consumer trend imnto the ditch.
It took them a few years to realise the trend was unstoppable and by that time the biggest record company wasn’t a record company anymore, it was a computer company (by the name of Apple).
Now Viacom is trying to do the same with the new web video industry by trying to sue YouTube to the tune of $1bn.
Guy’s, you may think you can stop it but you can’t. The best way is to work out how you can work with it (and the new players) so that you’re in the winning position to capitalise and make a shed load when it really becomes mass market.
Jeff Jarvis paraphrases a Morgan Stanley consultant:
“You can’t obstruct markets. You have to anticipate them. You need to go with the flow.”