Youtube seems to have been around forever, but amazingly it is only 5 years young. Back on valentines day February 14, 2005 was the beginning of funny videos and users videoing anything and everything to get a few moments of fame. Anyone who had a video camera and an Internet connection could share a video with the world.

However things are changing drastically for the long term money haemmoraging monster video site. In the past hated by Hollywood for hosting pirated clips and shows, they are now working with Hollywood and other partners to bring premium and long form content online.

When YouTube began, the costs of uploading and hosting video files were extremely high, which meant YouTube was forced to secure venture funding to get up and running. But still Youtube grew at an astonishing rate. Users uploaded personal videos to share with friends. Some of these videos went “viral,” a new term that has reached into the English language. By July 2006, over 65,000 videos were uploaded every day and over 100 million videos were watched.

Then in November 2006, Youtube was purchased by Google for a rather hefty $1.65 billion. It was a big risk by Google, because now YouTube could be sued for all that copyright infringing content. Google had money and copyright holders led by Viacom started suing to the tune of $1 billion. This legal battle is continuing right now.

Then in 2008, Google announced that YouTube would start hosting full-length movies and television shows from several partners such as MGM and Lions Gate Entertainment. Thanks to those agreements, the website now streams hundreds of legally uploaded tv shows and movies legally.

The sheer impact and importance of Youtube is hard to appreciate. Before Youtube, no other website allowed a video to be uploaded and shared so easily, and the site has created many celebrities and created a sub culture of businesses and incomes for thousands of users.

No other website will ever be able to catch up to YouTube. It is the must visit video website for millions of people around the world every day. It is leading the online streaming world in many ways and there will never be a more important site for video ever. You can now watch Youtube in HD and even on your big screen tv.  It will be interesting to see where we are in another 5 years.

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