YouTube royalties deal for artists
UK artists are set to receive royalties when their tracks are played on YouTube, following a deal between the video sharing website and the British music industry.
The group will licence more than 10 million pieces of music for the website, after YouTube and MCPS-PRS Alliance reached an agreement.
Musicians have been hit by a drop in CD sales as people increasingly download tracks online – YouTube is thought to have paid the Alliance a flat fee to distribute royalties to artists.
YouTube was set up two years ago as an amateur venture and became an overnight success. Search engine Google recently snapped up the site for more than £800 million.