Earlier this week I posted about "Understanding the New Economy" and linked some podcasts that spoke to how our legal system was stifling innovation .. and an Oxford educated newspaper man's trip from that industry to obtaining a MBA from Harvard B School (see post).
Everyone now needs to read today's post from the Offical Google Blog. It gives a great example how a musician is benefiting in a huge way (read cold hard cash) from the wedding march video which a couple from Minnesota posted to YouTube. Here is an excerpt:
"Last week the world watched in wonder as Jill Peterson and Kevin Heinz's wedding party transformed a familiar and predictable tradition into something spontaneous and just flat-out fun. The video, set to R&B star Chris Brown's hypnotic dance jam "Forever," became an overnight sensation, accumulating more than 10 million views on YouTube in less than one week. But as with all great YouTube videos, there's more to this story than simple view counts." (read more ... and how an artist who understands how to make a profit from the new economy is raking in the money ... rather than the old paradigm of fighting a copyright battle)(click to view the screenshot at full size)