I'll throw my two cents on there as well.
First: I bought Minecraft, Orcs must die, Symphony, Legend of Grimrock, Game Dev Tycoon and others because of let's plays. I started playing free to play games like League of Legends, Dragon nest, S4 League, Tera Online, Rayderz, Neverwinter, etc because of let's plays. I know I may not represent the majority of people, but I'm sure I'm not the only one that bought games and or/ spent money on F2P games because of Youtube videos.
Second: Yes editing is not easy. I made 2 mod trailers and it took me about 3 to 4 weeks to complete them. I also did some let's plays about a year ago, and that also was taking a good amount of time to do (from the recording to the editing).
Are Let's Play good for the industry? Yes, just look at the impact TotalBiscuit had in the indie scene. Game devs give him development build so he can cover their game. Should LP get payed for their work? Yes. Much like the game industry, the game journalist industry is changing. Youtubers have an increase impact on customer decision when it comes to buying games. Major gaming site have to change their approach on covering games or they close down. Simple as that. I think Nintendo is shooting itself in the foot by preventing LPers, who put time and effort in making videos, to make money out of their work. Youtube videos is like word of mouth; you get free advertisement for you products. Why cut off that free advertisement? Let's be honest, youtoubers will just cover other companies games and the one who will loose in all that is Nintendo.
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