Popular destination for online videos, YouTube locked-in on a deal with the Indian Performing Rights Society (IPRS), a non-profit making company looking after the copyrights for artists in India. The deal would now mean that the artists, who's content feature on YouTube will be able to earn their revenue off it. Artists, in this respect would mean songwriters, music composers and music publishers. With digital content growing by leaps in bounds, both in usage and popularity, this deal shows promise. The deal invariably means that the creators of original content will be rewarded with this revenue.
Now rewarding original content creators
An official statement received in this respect reveals that while YouTube has locked-in on agreements with several music labels in India, before, this is the first time it has signed a deal with a collection society in the country. Earlier, YouTube only earned revenue when advertisements were displayed against its partner’s videos. This revenue would then be shared by its partners.
According to a statement provided by the CEO of the IPRS, Rakesh Nigam, "We are extremely delighted to do this deal with leading video site like YouTube, as this association will benefit our publishers/music companies, author and sister societies. As more users get online, consumption and monetization of music will increasingly happen on the internet and YouTube will drive it.”
This deal follows YouTube's similar deals with ASRAC in Japan, KOMCA in Korea, CASH in Hong Kong, MUST in Taiwan, APRA-AMCOS for Australia/New Zealand, FILSCAP in the Philippines, and COMPASS in Singapore.
Published Date: Nov 19, 2011 02:43 pm | Updated Date: Nov 19, 2011 02:43 pm