Youtube changing its business to drive revenues

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Reported on Techcrunch and GigaOM yesterday, YouTube is aiming to put every music video ever made on its site.

Ignoring whether this is a smart move or not it is a major departure from user posted content which has been everything that the site has been about and is therefore not without risk.

YouTube is backed and run by some smart people so the fact that they felt a radical move was necessary to drive revenues tells me there were no easy options available to them to monetise the site.  Even though they have massive traffic – Alexa ranking is currently 16.