For those of you that don't know, YouTube's Content ID is the company's rights management system that helps published content to be identified, and therefore prevent third parties from uploading content that doesn't belong to them. It's simple: if you upload a video containing copyrighted music, you'll probably receive a message from YouTube asking you to either block the audio or take a cut from any ad revenue it might generate.

Yep, it's that same ad revenue that has now been announced to be over one billion dollars since the system was first implemented in 2007. Instead of blocking the content altogether, labels have the option of monetising other users' videos because they usually don't compete with their own uploaded content.

"Content ID has empowered creators to remix, curate and celebrate their favourite songs and videos," says YouTube representative Matthew Glotzbach," resulting in videos that are both entertaining legions of fans and rewarding rights holders with revenue."