Warner Music and YouTube still talking on deal

Warner Music Group, the world’s third largest music company, is still in talks with video sharing site YouTube to license its artists’ music videos even after all its major rivals have renewed their deals, according to a Reuters report. EMI Music, the smallest of the big four music labels, quietly renewed its deal with YouTube in February after Sony Music Entertainment and ahead of Vivendi’s Universal Music Group. Universal Music renewed its deal with YouTube and announced a wider plan to partner with YouTube to create a stand-alone music video website called Vevo. The site is expected to be launched later this year. Warner Music, which ironically was the first major music company to sign a deal with YouTube, is now the lone hold-out from renewing its partnership with the hugely popular website. Videos from Warner artists like Madonna and Green Day were yanked off YouTube last December after both sides were unable to agree on financial terms for the licensing rights.

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