That’s right, according to the “new” Terms & Conditions; YouTube has 100% rights to every single piece of your video, down to the audio portion.  This means that they can strip the audio portion of your catchy tunes and sell it off to some ad agency or slap it on a CD.  The other major concern is the possible acquisition of YouTube.  It is after all an extremely attractive piece of meat, with nearly 100 million videos served up a day.  The new owner will assume all rights.  So, you must carefully weigh the pro and cons of uploading your videos onto YouTube.

“…by submitting the User Submissions to YouTube, you hereby grant YouTube a worldwide, non-exclusive, royalty-free, sublicenseable and transferable license to use, reproduce, distribute, prepare derivative works of, display, and perform the User Submissions in connection with the YouTube Website and YouTube’s (and its successor’s) business… in any media formats and through any media channels.”

YouTube’s ‘New’ Terms Still Fleece Musicians [via Wired]