YouTube Now Brought To You By The Same People That Gave You The RIAA

Oct 19th, 2006 | By | Category: Digital Music, Digital Video Downloads

RIAA LogoOne more reason YouTube as you know it is dead: YouTube cut deals with the major music labels shortly before closing their deal with Google, giving the music industry ownership stakes in YouTube in exchange for video and music licensing deals.

YouTube quietly cut deals with three of the four major RIAA member companies – Universal Music Group, Sony BMG Music, and the Warner Music Group – to give them stakes in YouTube as part of video- and music-licensing deals.

The music companies collectively stand to receive as much as $50 million from these arrangements, according to reports. Details of the deal have not been announced yet.

via MarketWatch

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