Welcome news this week for music lovers, after PRS for Music and YouTube announced a new licensing agreement that covers music contained in videos streamed via the online video platform, which means premium music videos will be reinstated to YouTube in the United Kingdom.
The deal will be backdated to January 2009, when YouTube's previous licence expired. As a result of the agreement the songwriters, composers and music publisher members that PRS for Music represents will be rewarded when their music is used.
"It's important that those who are creating music ˆ the writers and composers we represent - be rewarded when their works are used," commented Andrew Shaw, Managing Director of Broadcast and Online at PRS for Music commented. "YouTube is a popular online video destination, and this new licence continues to support musical talent.
"This is an achievement for songwriters, composers and the YouTube community alike and it reinforces the value of our members‚ work.‰
"We're dedicated to establishing and fostering relationships that make YouTube a place where existing fans and new audiences can discover their favourite content - whatever it might be," said Patrick Walker, YouTube‚s director of video partnerships.
We're extremely pleased to have reached an agreement with PRS for Music and look forward to the return of premium music videos to YouTube in the UK where they will join a variety of other content to be enjoyed by our British users."
This is great news, as it shows that major companies can aim to share revenues from ad clickthroughs on hub sites like YouTube.
Friday, 4 September 2009
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