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Below are excerpts of whats going on in the industry, from our trusted industry news sources. Click on the links for the complete article and additional information on each topic. Enjoy!

• Under 24s in-touch online 23 hours a day (NMA):Multi-tasking young people are notching up 23 cumulative hours a day texting, emailing and using social networks, according to a study by OTX Research. It found young people aged 12-24 engaged in up to five activities simultaneously. The study into the attitudes of young people towards technology found they averaged 48 digital communications every day. These included text messaging, instant messaging, emailing, using Skype and social networking.

• YouTube set to lose $470M; most ad spots going unsold (SeattleTImes):For a site that generates as much online traffic as YouTube, it would seem a no-brainer that profit is streaming in. But according to a Credit Suisse analyst, the most popular video Web site — owned by the richest Web site Google — will lose $470 million this year because it sells advertising only on a fraction of its pages. YouTube sells ads on less than 3 percent of the Web pages that could carry commercial messages, analyst Spencer Wang wrote Friday in a note to clients. To boost that percentage, Google needs to standardize ad formats and better demonstrate that ads on YouTube help sell products, he wrote.Weakness at YouTube led Wang to cut his 2009 profit estimate for Google to $4.68 a share from $4.83, according to the report.

• Nein! YouTube Yanks Music Vids in Germany (NewteeVee): At the risk of sounding like a broken record, YouTube has once again had to pull music videos from a particular region over payment disputes. This time around, the video site has yanked music videos from the major record labels in Germany after negotiations with the country’s biggest royalty collections group, GEMA, fell apart, reports Billboard. Earlier this month, YouTube blocked access to music videos in the UK after a spat with its royalty group, the Performing Rights Society. Why all the fighting? Money, of course. YouTube blamed the breakdown with the PRS partially on “prohibitive licensing” and according to CNET, GEMA is asking for royalty rates 50 times higher than what the PRS was asking.

• Go global, cross platforms or fade away : Sorrell warns (DigitalMedia.Net): Gaining global, multiplatform reach will prove to be essential if companies hope to navigate their way through the current economic difficulties intact, WWP Group chief executive Martin Sorrell warned delegates in his keynote address at MipTV last week. “This recession changes our industry forever. If I was a media owner, and in particular if I was in one medium in one country, such as ITV in the U.K., I would be very nervous,” he said.  Media owners with operations across a range of mediums in many countries, will be the ones best placed to survive, he added. Sorrell said that the combined effect of  global economic turmoil and the digital evolution would shake up the way  content producers, media owners and distributors operate. “Production models are too expensive and will have to change. This is actually a big opportunity for content producers, particularly those who control talent and for the agencies,” he said.  “These groups have to work together to try and develop content that is attractive for the new platforms, particularly the growth platforms of mobile and the internet,” he added.

• UK consumers do not mind online ads (Financial Times): Brits are happy to watch advertising on the internet or their mobile phones if this means they will get videos, music or other content for free, a survey has found. About 60 per cent of people polled by KPMG, the professional services group, said they would rather watch advertising on the internet in return for free content, rather than pay for it. Only 16 per cent of consumers said they would rather pay for content and avoid ads. Even on mobile phones, 40 per cent of consumers said they would watch adverts in exchange for free music, while 28 per cent said they would do so in exchange for access to free instant messaging. The figures send a strong message to companies that advertising, rather than subscription-based business models, are likely to work for internet and mobile content businesses in the UK.

• Watch live BBC television on latest Nokia phones(Last100): Live BBC TV and radio streaming (UK-only) is now available on Nokia’s flagship N96 and the all touch screen XpressMusic 5800 aka The Tube, reports All About Symbian. The complete range of BBC television channels are accessible, including digital, along with the public broadcaster’s full radio lineup. AAS describes the picture quality as “not brilliant”, with a frame size of 176 by 144 pixels, although this can be scaled up to full screen in the S60 version of RealPlayer.

• Media Moguls: We Should Get Paid for Our Content (AdAge): Whether it was “TV Everywhere” or The Wall Street Journal, online subscription models were praised by some of the cable industry’s biggest content chiefs at the National Cable & Telecommunications Association’s Cable Show in Washington. News Corp. CEO Rupert Murdoch said in a keynote interview with Fox Business News reporter Neil Cavuto that preserving the Journal’s subscription model online has been one of the biggest no-brainers since he acquired the financial newspaper in 2007. “The question is, Should we allow Google to steal our copyrights? The paper has no trouble in charging $60 to $100 a year solely for the website. We’ve got about 1 million people doing that, and it’s not a gold mine, but it’s not bad,” he said.

• Interview: Julie Meyer, CEO, Ariadne Capital: The Dragon Roars Again (PaidContent): In turbulent economic times, it’s reassuring to know some things don’t change. A decade after she co-founded dot.com networking group First Tuesday, Ariadne Capital CEO Julie Meyer is enjoying another boom - as investor in a new wave of web companies, and entrepreneur in a new, online edition of BBC’s Dragon’s Den. Speaking with me in Ariadne’s central London office last week, where there was no hint of an economy in meltdown despite anti-capitalism protests in surrounding streets, Meyer brushed off talk of recession, confident the next game-changing deal is still out there. Don’t mention the crash: “I don’t think we buy into the notion of the crash. I understand there are data points that could lead someone to that conclusion, but what we see is a process of creative destruction - the dinosaurs will die, new animals will emerge, evolution goes on.” Far from cutting back in the downturn, Ariadne has just hired two new staff, has funded two companies this year- including music platform Slicethepie - and is about to fund another two, “some of the biggest deals Ariadne has ever done”.  “If you invest in the right entrepreneurs and you invest now, the returns are going to be absolutely sufficient, more than sufficient to justify taking the risk.” See PaidContent for more on ‘The Lions Den’ where she invests circa on £50,000 on each deal on a TV show, hoping to popularises entrepreneurship.

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