Is the Web the new Hollywood?

That is a question asked by Dan Farber.

“The audience is taking over the programming,” according to Ted Cohen,senior vice president of Digital Development and Distribution at EMI Music. “A few years ago we looked at litigating it, now we are looking at how to monetize it.”

In the last several months, hundreds of video sites have shown up on the Web. However, the big entertainment companies, who fear loss of control, will need to let go to participate in the new media world, Cohen said. With or without permission, users are playing with the video and other content assetsfrom trailers to full length featuresof entertainment companies.

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Rajesh Jain

An Entrepreneur based in Mumbai, India.