It's a truth universally acknowledged that no one reads the small print for online services; fewer still send it to their counsel for review. However, Youtube recently amended their T&Cs. Just read this:
"…by submitting the User Submissions to YouTube, you hereby grant YouTube a worldwide, non-exclusive, royalty-free, sublicenseable and transferable license to use, reproduce, distribute, prepare derivative works of, display, and perform the User Submissions in connection with the YouTube Website and YouTube's (and its successor's) business… in any media formats and through any media channels."
Considering that most of the content uploaded onto Youtube is copyrighted to someone other than the person uploading anyway, I'd say that this was sailing very close to the eye of the storm.
That's one up for Democracy.