PRS for Music has extended its licensing terms with video streaming service YouTube, driving ‘improved value for members’, the society said.
The extension to the current multi-territory licensing deal allows YouTube’s users and creators to benefit from PRS for Music-controlled repertoire in the UK and Ireland, as well as direct members’ repertoire across 130 territories in Europe, the Middle East and Africa.
It also provides a framework for further territorial expansion of the 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.
The society said in a press release that the extended agreement is a ‘significant step forward in strengthening the online music market’. It also 'drives improved value across the PRS and MCPS membership which, in an evolving online market, ensures its members can continue to reach new and existing fans on YouTube'.
As an integral part of the renewed relationship, PRS for Music will license YouTube’s new subscription product, YouTube Red, when it launches in the UK and Ireland.
Robert Ashcroft, chief executive, PRS for Music said: ‘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.’
He added: ‘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.’
YouTube’s head of music, Christophe Muller, said: ‘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.’
The extension to the current multi-territory licensing deal allows YouTube’s users and creators to benefit from PRS for Music-controlled repertoire in the UK and Ireland, as well as direct members’ repertoire across 130 territories in Europe, the Middle East and Africa.
It also provides a framework for further territorial expansion of the 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.
The society said in a press release that the extended agreement is a ‘significant step forward in strengthening the online music market’. It also 'drives improved value across the PRS and MCPS membership which, in an evolving online market, ensures its members can continue to reach new and existing fans on YouTube'.
As an integral part of the renewed relationship, PRS for Music will license YouTube’s new subscription product, YouTube Red, when it launches in the UK and Ireland.
Robert Ashcroft, chief executive, PRS for Music said: ‘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.’
He added: ‘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.’
YouTube’s head of music, Christophe Muller, said: ‘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.’
