Spymac beats YouTube to revenue-sharing prize

US$250,000 already paid out to users.

Video sharing website Spymac claims to have paid US$250,000 to its members since January, the same month that YouTube announced plans to share revenue with users.

Spymac implemented a revenue-sharing model on its launch two months ago. The site's most active and popular uploaders receive a share of advertising revenue according to a system of daily payouts and monthly jackpots.

The company paid out US$50,000 in its first month, with a German user earning US$5,000 and a Chinese content provider receiving US$1,300.

Dividends are based on an algorithm that combines data on a video's creativity and popularity, along with incoming links and click rates.

Spymac Network chief executive Holger Ehlis said: "While YouTube announced that it was thinking of a way for members to revenue-share, Spymac is already paying out cheques to its users."

Spymac is now developing a system that allows users to rate content as inappropriate and alert moderators.

The site also offers secure video-conferencing tools, and content can be streamed to a Sony PSP.

Spymac Network, which began life in 2001 as a Mac users' community, now has offices in the US, Canada and Germany. The Spymac website currently boasts around one million members in 150 countries.