YOU TUBE - OK SO I AM A BIT LATE TO THE GAME BUT

I am a bit late to this whole social network party - started about 7 months ago- You Tube Face Book Linkedin and even put together a Google web page for myself. I was equity market investor for many years.... no real interest  in this part of the internet till lately. Lots of SEC filings and Spreadsheets, DCF's, company presentations etc, etc..

 My issue is You Tube ...I can go here and watch news/current event highlights of the day without turning on the tv. Ok so is a bit of a delay ... there are no commercials and I can watch at my convenience.  Would seem that there are copyright law violations here?  What about the poor advertisers? they aren't getting the impressions with folks like me. Good for the consumer but bad for businesses.  We hear about financial services being dis-intermediated away from the banks over the past decade or so. What about traditional tv and radio and newspapers? 

Part of the irony I see is that if there is really really good commercial that I hear about or see- as in the Frito Lay/PepsiCo or Bud Super Bowl commercials - I can go to You Tube and watch it many times.  

So who makes money here? We are so used to having everything on the internet being free....Would seem to hard to change the consumer mindset.  Why pay for NY Times or WSJ news when much of this is free on right on their web page.  Seems like every week  there is a story about a traditional newspaper going under because of lack of circulation and no ad rev's. Can't pay for the mountain of debt that some goofy investors said was manageable just 2-3 years ago. Of course I don't read about this in paper newspaper that I bought off the shelf .... no just catch the highlights from one of a cazillion rss feeds.