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Correspondent
YouTube [GOOG
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] and Warner Music Group [WMG
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] have been stuck in a stand-off since December, when Warner pulled all of its artists' clips - both professional music videos and user-generated content using its songs - from the site.
Warner Music Group's complaint: it wasn't adequately compensated for its content. The two companies have finally reached an agreement to license Warner Music Group's music and video library, through a revenue sharing deal, a deal I broke on CNBC earlier today.
The deal is a multi-year, global deal that covers the music label's full catalog, including both official music videos as well as user-generated content that includes Warner Music songs.
It's a pure revenue-sharing deal - unlike some deals where companies have to pay an upfront licensing deal - and Warner Music Group gets to sell its own ad revenue.
Now that YouTube has nailed down a deal with Warner Music Group, the video sharing site has the right to run - and profit from - music from all four major music labels and publishers. No longer will YouTube have to pull clips of kids dancing to a Madonna song from its site; nearly all music use on the site is legit. This is yet another sign that YouTube is shifting from being a rogue threat, to being a legit revenue-generating distribution mechanism. The music industry needs all the help it can get, so why not find a deal with YouTube that works? And now YouTube is working to restore videos it had to pull down nearly a year ago.
YouTube tells me it's working on a premium video channel for the site, where it would aggregate all professionally created music videos. Sounds like the original MTV [VIA
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] for the web. How ironic that of all the media giants, Viacom has battled with YouTube the most.
Questions? Comments?
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