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MySpace monitizes video using Auditude
Here is the simple version of this:
The Old Way:
1. User uploads copyrighted material
2. Video gets flagged
3. MySpace takes down video
The New Way:
1. User uploads copyrighted material
2. Video gets flagged
3. MySpace adds ads to this content using Auditude and splits the revenue with the copyright holder
Nothing too insanely genius, but it is a fine example of logic put into practice.
MTV Networks in deal to monetize uploaded videos