One of the most popular YouTube creators, “Renetto,” has been discussing a revolution, and aspirations to create a new website for unmet online-video community. The new site, a homage to Paul Robinette’s self absorption, is aptly titled “RenettoTube.” I announced the new site in this video from last weekend (see launch video). Oh- and I created the fake site as a joke that was lost on many.

Renetto recently created a video where he’s reacting to the more than 180 comments appearing on RenettoTube. For the record, my only fake entry was from MrSafety.

So it’s a joke, but based on reality. If Renetto does get a bunch of creators to participate in an online video site “by the people and for the people,” what are the opportunities and risks? I’d like to hear from you, dear reader. I’ll start the process, though…

Opportunities

• Smaller entity can better meet needs of the smaller subset of YouTube that is primarily participating because of the joy of community.
• If he attracts a lot of big creators, it will be hard to ignore.
• The new site could, in theory, keep lean and more focused.

Risks

• It’s very hard to monetize user-generated content. Renetto will need strong partnerships with online-media buyers, who are still struggling to get their clients to post ads around what they perceive as a risky collection of content.
• Will viewers migrate? It’s a big challenge to get YouTubers to another site. We saw the mess of LiveVideo’s attempt to develop a YouTube clone, and maybe a little more reluctant to migrate.
• The battle against YouTube (with air cover from Google) is not trivial. Renetto and his companions will need to differentiate, focus and outsmart the 100 pound gorilla.

Renetto, many know, is an entrepreneur and inventor with good relationships with other creators. So it’s worth watching closely. Stay tuned as more news develops.