YouTube plans to share ad money with users

Months after Google bought YouTube, co-founder Chad Hurley, has announced that the site will start sharing ad revenue with millions of the users.

Months after Google bought YouTube, one of the fastest growing online video communities for $1.65 billion, co-founder Chad Hurley, 30, has announced that the site will start sharing ad revenue with millions of the users who ulitize the site.

“We are getting an audience large enough where we have an opportunity to support creativity, to foster creativity through sharing revenue with our users,” Hurley said. “So in the coming months we are going to be opening that up.”

Hurley, who is stated to be one of the youngest Internet multimillionaires, did not give any details on what percentage of the revenue users would receive or any other information.. Currently the site is working on paying users to post content.

YouTube is following in the steps of other videos sites such as MetaCafe and Revver who pay their users to post online video content.

Hurley also stated that since the site has grown, they see the financial benefit as a way of improving its content.

Hurley comments were made at the ‘The Impact of Web 2.0 and Emerging Social Network Models’ session at the World Economic Forum in Davos, Switzerland.

Chad Hurley was one of the youngest to participate at the meeting. Inaddition to Hurley, a new face from the company Flickr co-founder Caterina Fake which was bought by Yahoo! attended along with Bill Gates and more where they dicussed the future of the web.