Google rebuilds bridges with music industry
Google has reached a landmark royalties agreement that could accelerate the migration of music fans online.
Under the terms of the deal with PRS for Music, tens of thousands of music videos will return to
YouTube following a six-month hiatus, reports the Guardian.
PRS for Music, a royalty-collecting trade body for copyright owners, accused YouTube of failing music fans when its parent company Google refused to accept higher payment terms earlier this year.
But now that a lump-sum deal has been agreed, Google plans to reinstate the video content archives over the next few days.
A revitalised YouTube
Digital marketers will be watching the development with interest because it could encourage thousands more music fans to visit the UK’s most popular video-sharing portal.
Patrick Walker, director of video partnerships at YouTube, said that the website wanted to rebuild relationships with the music industry.
“This deal provides a positive example that people can come together with the objective of satisfying user demands,” he said.
Meanwhile, Andrew Shaw, managing director of broadcast and online at PRS, indicated that the trade body was committed to promoting content online.
“We hope it is the first of many deals with other services so that music can get out there in whatever way people want to listen to it,” he said.
Google has made extensive efforts to monetise YouTube since acquiring it in a headline-grabbing £875 million deal in June 2006.
Last month, it expanded the
YouTube Partnership Program to incorporate one-off virals in a move that will make thousands more videos eligible for ad-based revenue sharing.
