True, Revver doesn't have the mega brand of Google Inc.'s (NASDAQ: GOOG) YouTube. However, the site has made some online video creators happy; that is, $1 million has been distributed to them.

You see, Revver allows its users to share in revenues generated from advertisements.

True, it's not a lot of money. But keep in mind that the online video market is still in the emerging stages.

With Google Inc. (NASDAQ:GOOG)'s acquisition of video-sharing web phenom YouTube last year, the Internet search giant staked its claim to the online video realm. Like Orkut and Blogger.com before it, Google's handiness in social media needed to turn to video, and Google Video was not cutting it (nor was it designed to). YouTube, over time, will become an advertising-supported video site that will host user-generated content alongside studio-created content -- that is, if the studios would embrace changing times instead of being stubborn stalwarts like they always seem to be.

But, in usual fashion, Microsoft Corp. (NASDAQ:MSFT) may be looking to enter the "me too" party with a possible video website acquisition, as the world's largest software company seems to be in a perpetual state of "following the leader" in many areas, with Google out-innovating the software titan at many turns (not all, though).

With Microsoft's Soapbox now in the fray along with YouTube, is Microsoft eying an acquisition already? Rumor has it that Revver has caught the eye of Microsoft, and the company many be looking to acquire that property and inherit a built-in user base. It's much easier to buy customers these days than to build and grow organically (like Google did with YouTube), as a meeting between the two companies has been confirmed. Problem is -- both companies are being mum on all details. That generally means something is afoot. If it does happen, will Revver prop up Microsoft's online video ambitions. Can it?

[Disclosure: I own MSFT products as of 2-23-07]

There are a variety of factors that explain the hyper success of YouTube: ease-of-use, guerilla marketing and the power of sharing.

Recently, however, YouTube violated its principle of sharing (and community); that is, it changed its Terms and Conditions (TOC). This is a common feature of Web sites – to handle the legal technicalities. In fact, it's usually a bunch of jargon that most users simply ignore.

Well, given the size of YouTube, some users did read the latest TOC – and it caused an immediate stir in the blogosphere.

Essentially, the new YouTube TOC grants the company the right to sell your content. In legalese: YouTube gets a "worldwide, non-exclusive, royalty-free, sublicenseable and transferable license to use, reproduce, distribute, prepare derivative works of, display, and perform the User Submissions ..."

Trying to put out the fire, a YouTube spokesperson indicated that the company does not own the user-generated content.

Although, the clause does give YouTube the right to make money off your content. And, there is no sharing. All the money goes to YouTube.

Interestingly enough, there are other video sites that are giving its content creators a cut of the revenue, such as Revver and Eefoof.com.

Then again, should users really complain? After all, YouTube.com is subsidizing the cost of hosting videos. Besides, YouTube.com gets over 100 million video views per day (and is far ahead of other major sites, like Yahoo, Microsoft and Google). In other words, aspiring film producers have a ready audience for their work.

So, why not allow YouTube.com to make a buck?