UK Publisher and songwriter collection society PRS for Music and YouTube have signed a multi-year licence covers over 130 territories The licence covers the use of the "significant repertoire" represented by PRS for Music in videos streamed on the video platform e.g. official music videos and content, live footage, soundtracks and user generated content (UGC). The licence also includes the rights to a growing range of independent repertoire available through PRS for Music’s IMPEL initiative such as David Bowie (Bucks Music), Justin Timberlake (Imagem), Lou Reed (Spirit) and Goldie (Westbury) covering more than 130 territories in Europe, Middle East and North Africa.
Robert Ashcroft, Chief Executive 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 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 continued, “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.”
This is from a press release - of course - hence the glowing tributes - more at http://www.prsformusic.com/Pages/default.aspx