EMI collaborates with YouTube to allow users to access their library of videos
EMI has taken some real bold decisions in the recent times. They became the first major music company to offer DRM free versions of their catalogue and they have now begun selling the songs on Apple iTunes store.
The company has now announced that they are collaborating with Google owned YouTube video sharing service. As part of this deal, YouTube users would be allowed to use music and clips produced by its artists in the creation of their content.
EMI represents some popular artists including Coldplay, Norah Jones and David Bowie. EMI would now work with Google to develop business models through which YouTube users can view user-created content featuring content owned by EMI.
EMI chief executive Eric Nicoli did not reveal the financial aspects of their deal with Google but did say that the EMI Music and its artists will be compensated for their work.
They would also continue to have the right to ask Google to remove EMI-copyrighted media from the YouTube service.
Chad Hurley, chief executive and cofounder of YouTube spoke about this deal: “With this deal, all four of the world’s major music companies are now official YouTube partners.”
Market analysts have said that EMI is taking these bold decisions as they believe that the market scenario is changing very fast and they do not have the option to wait and watch. It is basically a Do or Die situation for them and they are taking some big challenges.
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