YouTube and CBS have not disclosed their revenue sharing terms, but YouTube must be receiving less than 30 percent of the ad revenue, considering that CBS refused to join NBC and FOX at Hulu because it didn't want to give up the 30 percent revenue share that the site was asking for. Instead, CBS has chosen to do 80-20 deals with various syndication partners.

YouTube accounts for 44.1 percent of online videos views in the U.S., compared to Hulu's one percent of views. YouTube has a long way to go achieve the viewing experience that Hulu presents, but if the video giant is willing to take a slightly smaller revenue share across the board, it may just have found a way to edge its way into the network business and eat Hulu's lunch.