YouTube have expanded their multi-territory licensing deal with PRS for Music which includes the UK launch of YouTube Red.
Today YouTube and PRS confirmed a deal which extends their existing deal and promises to “drive improved value across the PRS and MCPS membership”. The deal also covers the launch of YouTube Red, YouTube’s new and first subscription service, which is currently only available in the US, however the deal doesn’t give us any sign of a potential launch date.
PRS represent over 115,000 songwriters, composers and music publishers across the UK and ensure that they are compensated for any use or licensing of their work. Their extended partnership with YouTube will cover all PRS artists across the UK & Ireland as well as direct members’ repertoire across 130 territories in Europe, the Middle East and Africa.
PRS for Music’s chief executive, Robert Ashcroft 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 on 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 rights holders and a level licensing playing field.
“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.”
Christophe Muller, YouTube’s head of music, added: “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.”