Online video has largely succeeded at many of its goals: It is democratizing media and encouraging a culture of sharing and participation. It’s pushing the television industry to modernize and become more interactive. It’s freeing content from time schedules and repressive windows. It’s driving cable companies to at least consider the true value of the loyalty of their subscribers.
But let’s be honest, it’s done more displacing and destabilizing than it has created wealth. And with a few possible exceptions — say, Blip.tv and Brightcove — no company but YouTube has really been able to grow a ton of value. (YouTube, Google promises, will beprofitable any day now!)
