YouTube coughs up record royalties to PRS

According to the The Inquirer, "UK's Performing Right Society (PRS) believes that composers, singer/songwriters and music publishers are going to be getting bumper payouts this year and for a while to come, after a deal between the organisation and the video sharing website, YouTube.

Already in the first three months of 2008, the PRS claims to have doled out an unprecedented £110m ($219m) to their talented musical muses, which is apparently a good 30 per cent more than they had to shell out last year.

This, the organisation believes, is mostly thanks to a licensing deal struck with the online video giant YouTube, which now pays royalties on clips of songs (original or covered) uploaded and watched on the site."

emily | 4:57 PM | Copypright Issues |
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