UMG, YouTube, love affair
p2pnet news view Movies | Music:- Universal Music Group loves YouTube.
Official.
“Recently, the giant French record label, a founder member of the Big Four Organized Music family which is trying to sue consumers into buying over-priced downloads, said YouTube, ‘consistently violates‘ music industry copyrights, hinting at possible legal action,” said p2pnet, going on:
“Now, however, UMG and YouTube have reached an accord, they say.
“Under it, ‘UMG broadly embraces the power and creativity of user-generated content, allowing users to incorporate music from UMG`s recorded music catalog into the videos they create and upload onto YouTube,’ say the two companies.”
That was back in 2006. It took a while but now these tender beginnings appear to have blossomed into a full-blown, torrid, love affair.
“For the first time, there are signs that YouTube is driving significant revenue for itself and some of the video site’s partners,” says CNet News, continuing Universal Music Group’s eLabs’ Rio Caraeff says it’s raking in “tens of millions of dollars” from YouTube.
“(YouTube) is not like radio, where it’s just promotional,” the story has Caraeff saying. “It’s a revenue stream, a commercial business. It’s growing tremendously. It’s up almost 80 percent for us year-over-year in the U.S. in terms of our revenue from this category.”
Caraeff ” declined to give specifics on Universal’s deal with YouTube,” but a music industry source close to the label said Universal will likely book nearly $100 million in revenue from video streaming this year, says the story. ” That figure includes video-streaming money from all of the company’s partners, such as iMeem, MTV, and MySpace. The source said, however, that most of the cash comes from YouTube.”
However, “the big question is whether the growth in music-video revenue says more about the music industry than it does about YouTube,” says CNet, adding:
“Of the top 10 channels on YouTube, 7 are music related.”
p2pnet – YouTube and UMG make up, October 9, 2006
consistently violates – UMG threatens YouTube, September 14, 2006
UMG and YouTube – Universal Music Group and YouTube Forge Strategic Partnership, October 9, 2006
CNet News – Universal Music seeing ‘tens of millions’ from YouTube, December 18, 2008
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