Warner Music Group, the world's third largest music company, have renewed still in talks with video-sharing site YouTube music videos license its artists' colony, even after all his great rival their offerings.
EMI, the smallest of the four major music labels, quietly renewed its deal with YouTube in February after Sony Music Entertainment and Vivendi Universal Music Group before. Universal Music extend its deal with YouTube, and create a wider plan announced a partnership with YouTube to a stand-alone music video website called Vevo. The site is expected later this year.
Warner Music, which was ironically the first major music company to sign an agreement with YouTube, now is the lone hold-out of the renewed partnership with the popular site.
Videos by Warner artists such as Madonna and Green Day were pulled from YouTube last December after the two sides could not agree on financial terms for the licensing rights.
Two people familiar with the talks between Warner Music and YouTube said that while talks are still ongoing no immediate announcements are expected.
As chief executive of the only publicly traded major music companies, Warner Music Edgar Bronfman is interested in improving what his previous deal with YouTube. He is also a particularly difficult music market, which saw CD sales tumbling and slowing growth facing digital music.
YouTube has been calls from various facets of the music industry in recent years, all demand an increase in license fees. This spring, it was forced to block all the music videos for British users, not after a rights deal with the main British songwriters' collecting society was achieved.
The video site, which is owned by search engine giant Google Inc, has more than 100 million visitors each month in the United States alone and is popular in many other countries. Music industry insiders agree that YouTube is now catching up with radio and music television as one of the most important music-discovery tools for the fans.
YouTube has, under pressure from Google for investors who are on the website very interested to start a meaningful contribution to the overall bottom line was.
The company has begun to address the expectations of analysts that YouTube will lose millions of dollars per year to meet with free streaming millions of videos everyday.
YouTube On Monday, public relations executives posted a blog claiming to be "myth-busters" on the site, including that only 3-5 percent of the videos on YouTube monetized through advertising. The Post reported that statistic as "old and wrong."
"Monetized views have more than tripled in the past year as we partner content to add very quickly and does a better job to promote their videos to the site," the post said.
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