YouTube has announced Remixer, a free online video editing tool based on Adobe’s Premiere Express. Remixer lets you assemble videos in an easy drag-and-drop timeline, and then publish it right back to YouTube.

Remix supports the insertion of graphics, boorders, captions, text, overlays and in-video transitions. Basically, you upload your files to YouTube and then Remixer lets you manipulate them using a drag and drop interface without actually modifying the original file.

After trying Remix, I think it does little things well enough for the average user, provided you want to keep your files on YouTube only. Adobe Premiere Express does not allow you to save your creation to your desktop or computer. However, the new version of RealNetworks’ RealPlayer, currently in Beta, will let you save YouTube files though.

Although Remix is free, YouTube is generating revenue from it by having Adobe Premiere Elements advertisements in the bottom right corner of the program. Hopefully, YouTube will stick to these types of unobtrusive revenue streams.

This acquisition substantially strengthens RealNetworks’ market position in Europe, and adds new technological capabilities that enhance Real’s capacity to offer mobile operators access to its growing portfolio of media solutions, including music on demand (MOD), video on demand (VOD), ringback tones (RBT), games and other solutions.

[Press Release]

A New York court ruled yesterday that digital music downloads in the form of videos or music files are not subject to performance royalties.

This ruling was part of a copyright law dispute involving The American Society of Composers, Authors and Publishers (ASCAP) against AOL, Yahoo and RealNetworks.