During the Q&A portion of a YouTube developer session at I/O, Google's annual YouTube developers' conference, Dror Shimshowitz, a YouTube product head, revealed that the video-sharing giant is working on fixing its comment system, which has been well-documented as being home to some of the worst comments on the Internet.

China, the world's most populous nation, is about to get its own version of Netflix. The government-run China Movie Channel on Thursday said it would launch an online service, which could be a boon for Hollywood studios and other content owners.

NBC on Wednesday said that more than 3,500 hours of live-streamed Olympics content would be available at NBCOlympics.com and on mobile devices through NBC apps that will launch in July.

Kleiner Perkins Caufield & Byers, talent firm William Morris Endeavor and others on Wednesday pumped $8 million into social video startup Chill, an online video service that allows people to watch and comment on videos in groups on Facebook.

Taboola, a video recommendation app that publishers can put on their sites to boost video traffic and views, raised a $10 million third round from Marker LLC, Ad Exchanger reports.

Amazon's UK-based Netflix competitor, Lovefilm, has signed a multi-year content deal with Twentieth Century Fox, a move that gives Lovefilm subscribers streaming access to TV series like "24, "Prison Break," "Buffy the Vampire Slayer" and "Angel."

The future of YouTube and other video-sharing sites in Japan may be in jeopardy after the country's House of Representatives passed a revision to its Copyright Law on Wednesday that makes it illegal to download copyrighted video and audio files, punishable by up to two years in prison or a maximum fine of over $25,000.

YouTube video creators can now turn any of their uploaded videos into an ad in a matter of seconds, Tubefilter reports. The video-sharing site has posted a guide on its YouTube Creators Blog to take people step by step through the process.

Insurance company Hiscox announced on Monday that it will re-up its commitment to "Leap Year," a branded Web series about a group of startup founders who try to launch a Skype-like communications product and the unexpected directions the product launch takes their professional and personal lives in. Hiscox is committing to another season of the series, which debuted on Monday.

Netflix and Amazon, two competitors in the growing market for streaming online video services, are beefing up the amount they spend on lobbying in Washington.