• CNNMoney, Friday, January 19, 2007 11:31 AM

When Time Magazine named "You" as its person of the year, political journalists had to suppress a gag, while those in the media weren't entirely convinced, either. Why? Isn't "You" the future of media as we know it? Nope, it could just be a fad, not the death knell for traditional media companies.

Will interest in social media wane? Of course, but it certainly won't go away. As in other mediums, we're ultimately dealing with a meritocracy, meaning the best content will rise to the top. "You" needs to generate profits to have a say.

So far, revenues have not been impressive. Sites like Revver and Metacafe, which pay producers for their videos, aren't exactly helping "You" hit pay dirt: Metacafe's top earner has taken in just over $25,000. Part of the problem is that audience sizes for user-generated clips simply aren't that big. A top clip on YouTube generates 500,000+ clicks. A prime-time TV show delivering less than 10 times that audience would be cancelled after its first episode. So where does that leave "You"? With only a slightly better chance of "making it" than 20 years ago.

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