You might expect a video streaming site that recently revealed that it is getting one billion video views a week to be making money hand over fist though it hasn’t quite been that simple for video streaming leader, YouTube. The site has struggled to make a return appropriate to its size for years now, actually, it’s failed to make any profit at all.

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According to a video blog post from Chad Hurley, one of YouTube’s founders, the world’s most popular streaming video website currently enjoys more than a billion hits per day. The announcement marks the third anniversary of the site’s $1.65 buyout by Google, a price those within the search engine giant have since described as ‘a premium’.

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These days it seems YouTube gets more professional by the day. The site has been moving away from its amateur, homemade roots for a while now, though the pace has accelerated over the last six months or so, which have seen legitimate music content hit its channels, HD content, even a downloadable speech from President Obama. Now it seems that another frontier is about to be broken by YouTube, full length feature films.

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The Centre for democracy and Technology, an advocacy group promoting constitutional liberties in the modern age has criticised China’s decision to block its citizens from viewing YouTube claiming that the country’s actions ‘fail to live up to international norms.’

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The guys at YouTube must be wondering whether they’ll ever resolve the issues with music on their site. Not only are they still trying to resolve issues with record companies relating to the showing of music videos on their site, yesterday they lost most of their most popular videos as a result of a separate battle with the Performing Rights Society (PRS), the body responsible for collecting royalties for musicians.

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According to comScore, 14.8 billion online video were watched in January. The principal was, obviously, the Google controlled, YouTube, whose users exceeded 100 million for the first time in the opening month of 2009. Startling as the web viewing figures are, they are part of a longstanding trend and actually represent only a four percent increase on December’s figures.

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Whilst most businesses struggle against the biggest economic crisis since the great depression, a few are making a killing. One of those companies is movies-by-mail provider Netflix. The booming company gave most of the credit for its success to their new streaming video service, which provides near instant entertainment to anyone with an Internet connection, an Xbox 360 or a net-enabled Blu Ray player, TV or set-top box.

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US Internet users appear to be becoming more and more used to watching video content online. According to ComScore, a US market researcher, in November of last year Americans watched 12.7 billion online videos. This figure shows an increase of 34 percent on the figures for the same time in 2007.

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YouTube has revealed a new system to auction advertising on the site. Perhaps unsurprisingly, it’s very similar to the one used by Google. Just like Google, it will promote ‘sponsored video clips’ on the same page as organic search results.

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Did you wonder what the Queen’s head was doing on the Google logo when you logged on last Thursday? Apparently it was in honour of a visit to Google’s UK headquarters, where the Queen personally uploaded archive video of a 1969 Buckingham Palace reception to her own YouTube channel, ‘the Royal Channel.’ The channel was launched last December and currently boasts 54 individual videos.

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In an effort to give YouTube a makeover, Google are implementing an audio preview feature in the comments board. It is thought the feature will improve the quality of discussion on the message boards by giving YouTube’s more inane posters a chance to self edit after hearing their dull, irrelevant or nonsensical comments read back to them by a computerised voice.

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