Warner Music Videos Back on Youtube
YouTube has finally reached an agreement with Warner Music Group to bring the label’s music videos back to the video sharing site.
The music videos were removed on request of Warner Music nine months ago, after the pair couldn’t come to an agreement during licensing talks.
However, their differences have now been resolved and the videos will be making a comeback by the end of the year.
As previously, YouTube will share its advertising revenue with Warner Music, with Warner taking the reigns on advertising sales for its videos.
It is thought however, that the new deal leans in favour of the music giant, although neither camps have confirmed details of the deal.
Here’s hoping YouTube will be able to strike up a similar deal with the PRS to bring UK artist music videos back to the video sharing website.
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The music labels, meanwhile, are eager to explore new sources of revenue to help offset plummeting CD sales, which fell 25% in the last year, according to the Recording Industry Assn. of America.
“These are two parties that really couldn’t need each other any more than they already do,” said Sonal Gandhi, an analyst with Forrester Research. “YouTube needs music videos because, despite all the user-generated content, [the videos] are responsible for getting a lot of people and keeping them. Warner needs YouTube because that’s how young people discover music these days.”