Artists To Be Paid For Music On YouTube In Britain
August 30, 2007 at 8:37 AM (PT)
Artists will now be paid when their tracks are used as backing music for clips on video-sharing website YOUTUBE, following a deal with the British society that collects royalties for composers, songwriters and publishers, reports FORBES. The MCPS-PRS ALLIANCE said THURSDAY that it will license more than 10 million pieces of music to GOOGLE INC.-owned YOUTUBE for use on the British version of the website. Both the MCPS-PRS ALLIANCE and YOUTUBE declined to disclose monetary terms, but analysts suggest it could run into the tens of millions of pounds.
The agreement will help compensate artists for income lost from declining CD sales, but it also provides a defense for YOUTUBE, where major media companies say piracy of copyrighted works is rampant.
Similar interim settlements have been reached in the UNITED STATES, but WEDNESDAY's deal is believed to be the first full agreement.