YouTube Brings Back Music Videos; Movie Rentals Next?
In a matter of days, official music videos will return once again to video-sharing site YouTube for viewers in Britain.
The Google Inc-owned Web site announced Thursday that it had finally reached an agreement with songwriter copyright group PRS For Music after six months of deliberation.
YouTube has reportedly agreed to pay PRS an undisclosed amount for the deal that will be backdated to January 2009, when YouTube’s license expired. The deal will last until 2012.
“YouTube is a popular online video destination, and this new license continues to support musical talent,” said Andrew Shaw, Managing Director of Broadcast and Online at PRS for Music.
“This is an achievement for songwriters, composers and the YouTube community alike and it reinforces the value of our members’ work.”
Shaw told BBC that the money earned by PRS for its artists is “really their living."
"We have 60,000 song-writer and composer members and many of them don’t earn very much money at all – 90 percent of them earn less then 5,000 pounds a year," he said.
"We are pleased to announce that an agreement for a license has been reached and both PRS for Music and YouTube are happy that the negotiations resulted in a mutually acceptable deal," YouTube said in a statement.
"As a result of the new agreement, premium music videos in the UK are coming back to YouTube – this is good for songwriters and composers, music fans and YouTube," it added.
“We are dedicated to establishing and fostering relationships that make YouTube a place where existing fans and new audiences can discover their favorite content ““ whatever it might be,” said Patrick Walker, YouTube’s Director of Video Partnerships.
In other YouTube news, the Web site’s owners on Wednesday were reportedly entering talks with Hollywood studios for a possible deal that would allow it to rent new film releases to its users online.
If the deal succeeds, it would represent the first time that the Web site has charged fees to its viewers.
According to reports, YouTube has been in talks with Lions Gate Entertainment Corp, Sony Pictures, a unit of Sony Corp, and Time Warner Inc’s Warner Brothers.
Apple Inc, Netflix and Amazon.com all offer similar rental programs. YouTube would likely charge a fee at about $3.99 per rental, according to Reuters.
"We hope to expand on both our great relationship with the movie studios and the selection and types of videos we offer our community," said YouTube spokesman Chris Dale.
—
On the Net: