Bolt.com the video site will take a less "youtube" like approach. They're pulling a "Atom Films" by switching from user created videos, to original productions (whether they are entertaining or not).
That's the result of Universal Music Group suing BOLT and GROUPER for violating copyrights and to make an example for everyone else to make deals to share revenue with media companies (or get sued! lol).
UMG is a giant that Bolt.com couldn't fight in court, so they agreed to being bought out by GoFish (GoFish already has deals and agreements with UMG). To my knowledge Bolt will still function as its own company, but its owned by GoFish.
Now its unclear to me, but I think that GoFish will still allow users to upload videos, while Bolt will produce its own original content. On both of the sites videos can have music from UMG, and every time someone watches a video with UMG audio, Netco will pay UMG.
GoFish says they will have an edge over its competitors by being able to make deals to created exclusive and original content for their sites.
"One of our competitive differentiations is going to be our ability to make deals like this with labels and video companies,"
To get to the top, all they have to do is beat Youtube.
Is it possible? Keep watching!
Thanks Variety & JOnas!