According to its CEO Aaron Cohen, video aggregation along with legal issues and tight competitions are no longer a profitable business. Bolt-GoFish is looking to develop a roster and allow them to keep ownership of their contents. Bolt is paying millions of dollars to Universal for existing contents as settlement and has already agreed to pay future royalties on any future Universal contents. Bolt and other similar sites are defending themselves citing the DMCA safe harbor which allows them to take down notices of copyright infringement rather than filtering videos. Sites are under increasing pressure to filter their clips or remove content licensing deals to support them. Cohen and Bolt president Jay Gould are involved in a new project called wikiyou which receives funding from First Round Capital and Mayfield Fund.
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