09-19-2006, 09:40 AM
Music videos will be legally available for the first time on YouTube, the privately held online video sharing site, which yesterday signed its first commercial partnership with Warner Music Group Corp.
YouTube and Warner Music, the fourth-biggest record company, said the pact would help Warner distribute music videos, behind-the-scenes footage, artist interviews and original programming.
The companies said users of San Mateo, Calif.-based start-up YouTube would also be able to incorporate music from Warner's catalogue into the videos they create and upload.
The partnership comes days after Universal Music Group, which is owned by Vivendi SA, described YouTube and News Corp.'s social networking site MySpace as "copyright infringers" that owe the music industry "tens of millions of dollars."
"We've been in discussions with labels, television networks and movies studios," said Chad Hurley, YouTube chief executive and co-founder.
YouTube and Warner Music said the deal would enable both parties to generate and share revenue created by advertising, which will be featured around the videos.
Warner Music said the deal will start to generate significant revenue for Warner from next year. YouTube said it would use a new royalty reporting system to help manage payment to the labels.
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YouTube and Warner Music, the fourth-biggest record company, said the pact would help Warner distribute music videos, behind-the-scenes footage, artist interviews and original programming.
The companies said users of San Mateo, Calif.-based start-up YouTube would also be able to incorporate music from Warner's catalogue into the videos they create and upload.
The partnership comes days after Universal Music Group, which is owned by Vivendi SA, described YouTube and News Corp.'s social networking site MySpace as "copyright infringers" that owe the music industry "tens of millions of dollars."
"We've been in discussions with labels, television networks and movies studios," said Chad Hurley, YouTube chief executive and co-founder.
YouTube and Warner Music said the deal would enable both parties to generate and share revenue created by advertising, which will be featured around the videos.
Warner Music said the deal will start to generate significant revenue for Warner from next year. YouTube said it would use a new royalty reporting system to help manage payment to the labels.
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