YouTube music content to take a hit in light of row with independent labels.
Video streaming site YouTube will be removing music videos from artists like Arctic Monkeys, Adele and Radiohead. The move has been taken as the independent labels to which these artists belong have refused to agree with YouTube’s new terms.
The search engine giant in recent times has been renegotiating contracts with music labels and artists as it prepares to launch a music subscription service.
A spokesperson for the Indie labels said that YouTube was making a grave error of commercial judgment. On the other hand, the video streaming site said that it is bringing new revenue streams to the music industry.
Robert Kyncl the head of YouTube’s content and business operations said that videos from independent labels could be blocked in a matter of days if the licenses are not negotiated soon.
The major record labels like Universal, Warner and Sony have all agreed to YouTube’s terms, only the smaller independent labels are holding it out. Some of the independent labels say that they are being offered highly favorable terms, however, Radiohead guitarist Ed O’Brien accused the search engine of trying to “strong-arm” labels in to accepting low fees.
Alison Wenham from the Worldwide Independent Network said that YouTube is making a grave mistake of commercial judgment and misreading the market. Videos which are exclusively licensed by the independent record labels like acoustic sets or live performances might be taken down.
Photo Credits: Guardian