It’s big news in the world of new media and entertainment convergence, as YouTube inks a deal with Warner Music in which they will share revenue based on music videos and interviews uploaded to the popular site. It’s the first, but not likely the last, deal of its kind for popular YouTube. More from The Guardian:
Warner Music, the world’s fourth biggest record company, has agreed to distribute and license its copyrighted songs and other material such as interviews on YouTube. Under the deal, Warner and YouTube will share revenue from advertising that appears around the music videos when they are played. YouTube will use an advanced content identification and royalty reporting system, set for release by the end of the year, to identify the videos and help manage payment to the record labels.