I had previously posted on the topics of citizen journalism and participatory media.  Now, Reuters and Yahoo are tapping (NYT; free reg req’d) into the powerful networked-ness of this phenomenon:

Starting tomorrow, the photos and videos submitted will be placed throughout Reuters.com and Yahoo News, the most popular news Web site in the United States,
according to comScore MediaMetrix. Reuters said that it would also
start to distribute some of the submissions next year to the thousands
of print, online and broadcast media outlets that subscribe to its news
service.

Apparently, there’s no compensation planned as of yet, but I am sure that will follow soon.