Looks like we are going to be getting another option in the already crowded music streaming world. YouTube has officially cleared a tremendous hurdle by signing deals with both Sony Music Entertainment and Universal Music Group.
Apple Music, Spotify, and Tidal might have some competition in these music streaming streets.
Bloomberg reported earlier this month that YouTube’s planned music streaming service could launch in March but ongoing negotiations with Sony Music Group and Universal Music Group could delay that. Bloomberg broke the news yesterday that 2-year standoff between the companies is now over. YouTube now promises to be more strict in policing user uploads using copyrighted songs and also set royalty rates for music video rights holders. The third company Warner Music Group signed a shorter deal with YouTube back in May.
So its officially a wrap for posting anything with any copyrighted song, so yeah that means every song you hear period cause these two companies own EVERYTHING!
With this new deal, YouTube hopes they can convert already signed up users who listen to music freely on their video sharing site into paying customers.Yeah, good luck with that, Universal spoke on the new deal saying it ” will give artists more flexibility and better pay”, Sony has yet to comment on their new deal with YouTube.
Record labels have been leery of YouTube and their “lax approach” to policing their service for use of copyrighted music and their poor attempt at properly paying their artist. But they recognize YouTubes importance and extreme popularity and didn’t want to completely remove all of their music from the service. Now that this issue has been quelled, they can now move on and focus on Facebook Inc. Facebook is already in talks with music labels for over a year trying to figure how licensing rights for user-generated content and possibly professionally done videos.
Does YouTube new streaming service interest you? Will you be switching over? We are interested to see how this pans out when it officially launches in March.
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