Warner Music Group has become the first major label and music publisher to sign a new deal with YouTube. But in a leaked memo to staff, WMG CEO Steve Cooper said that he had “secured the best possible deals under very difficult circumstances.” Here, YouTube comments on the agreement:
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“After months of negotiations, we are pleased to say we’ve renewed our deal with Warner Music Group, Warner/Chappell and PEDL.This new deal continues to capitalize on the growth in advertising revenue we’ve paid to the music industry – over a $1b paid out between November 2015 and December 2016 – and is an important step to enabling the international expansion of our subscription service, YouTube Red.”
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