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Warner Music Group and YouTube Enter Video Distribution and Revenue Agreement
TMCnet Contributing Editor
Warner Music Group Corp. and YouTube, Inc. have entered into an agreement to distribute its collection of music videos on YouTube. WMG will also distribute behind-the-scenes footage, artist interviews, original programming and other special content.
With the agreement, YouTube users will get a rare opportunity to include music from WMG's recorded music catalog into the videos uploaded onto YouTube.
The agreement also provides YouTube with an advantage since millions of people already access songs and upload their homemade videos to the Web site.
Chad Hurley, CEO and Co-Founder of YouTube admits that collaborating with Warner Music Group is one of the most significant milestones for their company and their community. Hurley hopes that the agreement will shift the paradigm in this new media movement.
"We are thrilled that WMG had the vision to be the first music company, in partnership with its artists, to support the use of their content within user videos and to allow our community to interact with WMG music in new creative ways," commented Hurley in a company news release.
Under the deal, New York-based Warner Music will transfer thousands of its music videos and interviews to YouTube and the companies will share revenue from advertising.
Edgar Bronfman, Jr., Chairman and CEO of Warner Music Group also commented that the “partnership will allow music fans to celebrate the music of their favorite artists, enable artists to reach consumers in new ways, and ensure that copyright holders and artists are fairly compensated."
Alex Zubillaga, Executive Vice President, Digital Strategy and Business Development for Warner Music Group added that the agreement would set an example by which “content companies can transform consumers' creativity into a legitimate commercial enterprise that will benefit fans, artists and copyright holders.”
Niladri Sekhar Nath is a contributing writer for TMCnet covering telecommunications, service providers and networking.
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