Last week, Google and PRS reached an agreement to lift the block on the music videos, sealing the music rights deal. It is expected that all the removed videos will be uploaded by users back onto the site in the next few days.
In March 2009, YouTube blocked all music videos owned by record labels in the UK, after failure to reach an agreement with the PRS over licensing fees. The PRS were initially seeking a rise in fees way above their previous agreement with Google.
While most music videos were removed from YouTube, some videos stayed on the site, namely those sanctioned by the record labels themselves.
Google have reportedly paid an undisclosed fee to PRS which backdates to January 2009 and lasts until January 2012 – a deal which will surely delight all parties involved; Google, PRS the music industry and the public.
What does this mean for the music industry?
90% of artists make less than £5,000 per year. The PRS provide these musicians with their livelihood; therefore it was important for the PRS to strike the best possible deal with Google to enable fair pay for the music artists.
What does this mean for the public?
The public will once again be able to view their favourite artists’ old and new music videos, allowing ease of access through one integrated medium.
What does this mean for YouTube?
It is good news for Google and YouTube, as this deal will help them to cement their number 1 position as the Internet’s favourite online video service. Here are some interesting YouTube statistics*…
- YouTube accounts for nearly 99% of all videos viewed online
- Over 150,000 videos are uploaded every day on YouTube
- Nearly 39% of videos on YouTube are either listed under ‘Music’ or ‘Entertainment’
- It would take 412.3 years to view all the videos on YouTube
- The average video time on YouTube is 2 minutes and 46.17 seconds
- The UK has uploaded only 6.9% of the videos on YouTube
*Study taken in March 2009 by Digital Ethnography
Why not view the PH Media Group YouTube video here…
PH Audio’s YouTube channel is live; we hope that the channel will grow with video content in the near future. Check out PH Audio’s channel here http://www.youtube.com/user/phmedia123 and view the PH Media Group introductory video.