http://www.nytimes.com/2011/11/07/business/media/disney-and-youtube-make-a-video-deal.html

YouTube hopes to gain something from the Disney brand as well, namely credibility among parents, many of whom aren’t thrilled at setting their younger children loose on a site where the videos can be ragged and provocative and the comments even more so. The company wants to compete with cable television for ad dollars by adding more professional videos.

[..]

Disney is an important ally for YouTube, which walks a careful line when it comes to attracting children; the site's Terms of Service require users to be at least 13 years old to watch videos and register for an account, though younger children routinely access the site. YouTube also needs Disney because it remains locked in a legal battle with Viacom, which owns the other major player in this arena, Nickelodeon, and keeps its videos (aside from some promotional material) off YouTube.

And the article ends with this... you couldn't fucking make this up:

Correction: November 9, 2011

An article on Monday about an online video series being developed by Disney and YouTube referred incorrectly to YouTube’s position on the use of the site by children. The company’s terms of service specify that users should be at least 13 years old to watch videos and must register for an account. It is not the case that YouTube lacks a policy regulating access by children.