PRS for Music and YouTube have today confirmed a new extension to their current multi-territory licensing deal and ongoing music partnership.
The repertoire PRS for Music licenses to YouTube also includes mechanical rights for musical works represented by MCPS in the UK and Ireland and the repertoire of over 40 leading independent music publishers under the growing IMPEL umbrella. PRS For Music ahve called the extended agreement and partnership “…a significant step forward in strengthening the online music market”.
YouTube’s head of music, Christophe Muller commented: “We’re committed to ensuring that writers, composers and publishers continue to get paid and that our users have the best experiences enjoying the video content that they love. This deal is an important step in delivering both of these priorities and speaks to a bright future ahead. 2016 will see yet more opportunities for creators, authors and composers as we launch new products and create new revenue streams.”
“On behalf of our members, we are pleased both to extend and expand our licensing relationship with YouTube. PRS for Music was the first copyright society to sign a licensing agreement with YouTube back in 2007 and both parties have since worked closely together to improve the value that creators derive from the platform.
This latest agreement represents another important step in that direction, ensuring continued growth in royalties for our members from one of the world’s leading video platforms. PRS for Music fully recognises the breadth of opportunity on the horizon with YouTube and other open platforms and is committed to achieving fair remuneration for rightsholders and a level licensing playing field
The recently announced, expanded ICE joint venture is poised to build on this enhanced PRS-YouTube relationship to deliver greater licensing efficiency to members and customers alike, over a wider territory and expanded repertoire base.”- Robert Ashcroft (Chief Executive PRS for Music)
Source : Music Week