Warner Music returns to YouTube
Google Inc.’s YouTube reached an agreement with Warner Music Group Corp. that will bring artists including Madonna and Metallica back to the video-sharing site, Bloomberg reports.
Warner Music will be able to sell its own ads on the site and the “vast majority” of the revenue will go to the record label, Chris Maxcy, director of YouTube Partner Development, said today on a conference call.With this accord, YouTube now has agreements with all four major record labels.
Warner pulled their videos from YouTube in December after discussions over royalties failed.
“It’s a win for artists and fans around the world, and it represents many months of hard work for both companies,” Maxcy said, adding that videos from Warner Music artists will return to YouTube by year-end, Maxcy said. Warner plans to hire outside agencies to sells ads and find partnerships, such as sponsorships of videos and artists.
“Members of the YouTube community will not only be able to access videos and other music-related content from Warner Music Group recording artists and songwriters, but will also gain access to an enhanced user experience on YouTube with a feature- rich, high-quality premium player and enhanced channels,” Warner Music said in an e-mailed statement.
Warner Music also has begun discussions with Universal Music Group about joining Vevo, a person familiar with the talks said. Warner and London-based EMI Group are the two major labels that haven’t become part of the music Web site.
From Bloomberg.com.