I'm thinking about starting some site like the 5 second movies by that guy with the glasses (google it, it's really funny :)
Here is a short history if you haven't heard about it. 5 second movies are funny short clips from movies that explains the whole movie in 5 seconds, with a parody of course. The guy who did those clips had serious problems with copyright issues, and his videos got deleted from youtube after his clips got famous. Finally he decided to build his own website and he is showing all his clips there with his own hosting. He is even showing adsense at his website.
I would like to know how is this possible? Does he have some kind of contract with the big studios? How can you be able to show clips from copyrighted movies without getting pursued and even show adsense ads?