YouTube was sold for 1.65 billion dollars. It is a vast pile of money for a company that wrote its code and created its masterful website in about two year's time with less than 70 people. Household name and millions of monthly hits likely cost quite a bit in a deal. Situation was and still is that there might be hidden traps since they had broadcasted pretty much everything on its site regardless of copyrights prior to the sale.
Witty Future Entertainment Co. has patented a method that allows viewers to edit copyrighted content at home. The iWiTTY TV concept is also the first ever patented TV concept. Surely if someone had patented Reality TV Concept at the right time, that person would be close to earning what Bill Gates is making yearly. A third of television programming in USA is currently Reality TV based.
What iWiTTY Concept means is that those rights holders willing to share their footage with the audiences will always get paid by the second their "modified" footage is broadcasted on media; Web, Mobiles and primarily on television. Software will be sold as next generation console- and pc-games or as downloads.
This software includes editing tools with a wide variety of effects and depending mainly on a TV- or web format, hours upon hours of footage that viewers will mold into legal recycled entertainment. Viewers try to enter dozens of future TV formats by making as entertaining clips as possible and internet will function mostly as a platform for previewing and reviewing. Best clips will be then upgraded to the broadcast level and rewarded according to success.
"YouTube has clearly shown in reality what the future of the television holds. Viewers will take control of making quality entertainment at home and broadcasters will end up buying the best of these products. The problem has been that individuals haven't been able to shoot that much of broadcast quality footage. When old quality footage can be recycled, it opens a whole new window of opportunity, saves nature and energy among other things and gives massive talent outside broadcast houses a chance to shine," says Finnish Inventor Pekka Kossila.
The iWiTTY TV concept infrastructure still needs to be built and this company is looking for investors and partners for the project, of which it has been granted foreign patent filing rights (outside U.S.). For more details on the near future's next big TV concept, log on to iwittytv.com. This could easily be the next tube