Performing Rights Society (PRS) has signed a licensing deal with YouTube for 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 (RZO Music), Justin Timberlake (Imagem), Lou Reed (Spirit) and Goldie (Westbury).
PRS represents over 100,000 songwriters, composers and music publishers and was one of the first societies outside of the US to license YouTube in 2007 but the new licence agreement is one of the most extensive yet covering more than 130 territories in Europe, Middle East and North Africa.
Robert Ashcroft, Chief Executive PRS 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.”
Director of Global Music Partnership at YouTube, Mr. Chris Maxcy said his organisation is delighted about the renewal of the 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,” he said.
