Warner Music Group Pulls Down It’s Music Catalog From YouTube
Written by J.R. on December 27th, 2008 in Business, I Smell BS, World, Digital Technology, Music News, News.
Warner Music Group, one of the first media companies to strike a deal with YouTube, is looking to make more money from online video with the video sharing giant. The label first struck a deal with YouTube back in late September of 2006. Meanwhile, in the present, the label has decided to pull it’s video catalog from YouTube until a new deal is worked out.
On Saturday, WMG pulled it’s videos from YouTube until further negotiations stating, “We are working actively to find a resolution with YouTube that would enable the return of our artists’ content to the site,” in a statement, according to Billboard. “Until then, we simply cannot accept terms that fail to appropriately and fairly compensate recording artists, songwriters, labels and publishers for the value they provide.”
The music group which, according to Nielsen SoundScan, has more than 20 percent market share of albums this year, with Atlantic being the No. 1 label in the U.S., has made the decision possibly based on YouTube lagging in monetizing its high traffic. The deal could possibly effect other negotiations which YouTube has worked out with other major labels.
Meanwhile, Warner still makes videos available to MTV, MySpace Music and other sites.
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