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The producer of "Break a Leg", a popular YouTube video that garnered 2-million views, recently got a check for $1,600. A little math reveals a CPM of $0.80, and a little more math reveals that Google probably grossed about $2,133, of which it kept about $500 (Google gives its producers about 75% of gross revenue). More math: Apply that 0.25 CPM to YouTube's 3.4 billion videos streamed in January (according to comScore) and you get about $850,000 per month, or $10 million per year. As SAI's Henry Blodget says, "on a base of $20 billion of search and AdSense revenue, it's also immaterial."
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