PRS for Music Announces YouTube DealPosted on August 24th, 2013 by Anna in Music Industry News
PRS for Music has this week announced a new licensing agreement with video streaming giant YouTube.
The organisation was one of the first societies outside the US to license YouTube in 2007, and the new agreement – which will encompass more than 130 territories in Europe, the Middle East and North Africa – will cover and reap royalties from the use of any music registered with PRS for Music appearing in videos streamed on YouTube. This includes music used in official promo videos, live footage and soundtracks, as well as user generated content.
The deal also includes the rights to music available through PRS for Music’s independent publisher initiative IMPEL, including work by David Bowie (Bucks Music), Justin Timberlake (Imagem), Lou Reed (Spirit) and Goldie (Westbury).
Robert Ashcroft, chief executive of PRS for Music, said: “Streaming is a key growth area for PRS for Music, helping drive our online revenues to over £50m in 2012. YouTube’s vast reach around the world offers our publishers and songwriters a unique stage and offers music lovers access to millions of songs. I am delighted we have reached such an important multi-territory agreement. The issue of remuneration from streaming services remains a key one for our members and the further evolution of our licensing relationship with YouTube will help ensure continued growth in royalties for our members from one of the world’s leading video platforms.”
Chris Maxcy, director of global music partnerships at YouTube, added: “We’re delighted to renew our successful partnership with the PRS for Music. This means the UK’s music publishers, songwriters and composers can continue to reach new and existing fans on YouTube and the passionate YouTube community can keep enjoying listening to music and discovering new artists online.“