Fred ignited a debate today around the value of YouTube and strategies to monetize online video.

The debate over the value didn’t interest me. The value is $reallybignumber.

However, I’ve been giving a lot of thought to the ideal way to obtain $reallybignumber – the monetization of new media. Old monetization models break down as traditional media transitions to new media strategies.

Brad, the other half of Union Square Ventures, agrees (I suspect Fred does as well but used pre-rolls b/c they presented a simplistic way of modeling potential revenues).