YouTube, said it will block all music videos to British users – sort of about now – after it was unable to reach a rights deal with the main songwriters’ collection society.
The world’s largest video sharing site said PRS for Music, a British collection society that collects royalties on behalf of nearly 50,000 composers, was asking it to pay “many, many times” more than the previous licensing agreement that has expired.
“The costs are simply prohibitive for us — under PRS’s proposed terms, we would lose significant amounts of money with every playback,” the company said in a blog on Monday.
The move is the latest sign of the tension between YouTube and the music industry and also indicates the video site’s resolve to keep operating costs under control as it strives to generate meaningful profits for Google…
But PRS disputed YouTube’s version of events and said: “We were shocked and disappointed…blah, blah…”
I don’t know if this will ever get interesting – other than suits vs. suits. Meanwhile, YouTube/music fans in the UK get screwed.