Major record labels Universal, Sony and Warner could remove their artists’ music videos from YouTube, according to a report in the New York Post.
The paper quotes two industry ‘sources’ which claim the majors are unhappy with the amount of money being generated from the sometimes billions of views which the world’s biggest pop stars receive on YouTube.
“They are not serious about monetizing music on behalf of creators and, as a result, music companies are realizing they have to reset the current relationship,” one source is quoted as saying, while another added:
“They are fed up with the lack of monetization. When you look at how music is monetized from lowest to highest, YouTube is at the bottom.”
YouTube was also involved in a dispute with independent labels last year; the indies claimed an initial offer for their associated acts’ music to be added to its new streaming service was ‘indefensible’, though an agreement was eventually reached in November.
