NfsYouTube's bandwidth bill has been estimated at $300 million/year (or not) (or yes), but whatever the true amount of the bill, it can't be cheap delivering 2 billion videos every day. One of the chief problems YouTube is faced with is how to monetize this content; most of its videos are user-generated, and it's difficult to monetize UGC given most advertisers don't want to run ads against amateur videos whose content can't be controlled or cataloged. This could be a good reason for YouTube's recent attempts to "mature" into a site where Guggenheim-worthy content is featured and Sundance films are shown as paid rentals. Continuing their recent moves in this direction, YouTube has announced Life in a Day, a forthcoming feature film from director Kevin Macdonald, which hybridizes user-generated content (i.e, submissions from you) with a professional's touch:

If you're interested, break out your video camera on July 24 and film your day. I can only imagine how many assistant editors will be employed on this project!

From the horse's mouth:

Today, we’re excited to announce the launch of “Life in a Day,” a historic cinematic experiment that will attempt to do just that: document one day, as seen through the eyes of people around the world. On July 24, you have 24 hours to capture a snapshot of your life on camera. You can film the ordinary -- a sunrise, the commute to work, a neighborhood soccer match, or the extraordinary -- a baby’s first steps, your reaction to the passing of a loved one, or even a marriage.

Every day, 6.7 billion people view the world through their own unique lens. Imagine if there was a way to collect all of these perspectives, to aggregate and mold them into the cohesive story of a single day on earth... The film will premiere at the 2011 Sundance Film Festival and if your footage makes it into the final cut, you’ll be credited as a co-director and may be one of 20 contributors selected to attend the premiere.

Here's 73 year-old producer Ridley Scott explaining what they're looking for from the YouTube audience:

Finally, the requisite launch video:

Link: YouTube Life In A Day