The Morning Edition on NPR had a good report on the Viral Video phenomenon created by YouTube and how it's affecting broadcast television. You can read or hear the report on NPR.org.
Here are some interesting tid-bits:
"Like most Silicon Valley success stories, YouTube started in a garage. Founders Steve Chen and Chad Hurley got frustrated when they were trying to share video with friends on the Internet and found the process too complicated.
They officially launched YouTube in December 2005. So far, they've raised more than $11 million in venture capital. The site is so popular that about 60,000 videos are uploaded to it each day. Fifty million videos are posted on the site at any given time."
Also check a report NPR did on "Video Game Designers Target(ing) World Peace." Food for thought for all emerging media students.