News: Warner Music Group Removes Videos From YouTube
Monday, Dec 22, 2008 9:10AM
Warner Music Group (WMG) has withdrawn their entire music catalog from YouTube as a result of complications in payment negotiations.
According to Billboard, the major record label removed all of its music Saturday (December 20) morning despite being one of the first media companies to have worked with the popular video sharing site.
Warner is reportedly dissatisfied with the generated profits it has received from their online videos shown on YouTube.
"We are working actively to find a resolution with YouTube that would enable the return of our artists' content to the site," reps from WMG said in a statement. "Until then, we simply cannot accept terms that fail to appropriately and fairly compensate recording artists, songwriters, labels and publishers for the value they provide."
YouTube responded with a statement of their own.
"Sometimes, if we can't reach acceptable business terms," read a statement posted on the company's blog, "we must part ways with succesful partners."
Although Warner has removed videos from YouTube, music fans may still find them available through MTV, MySpace Music and other online outlets.
WMG's active list of artists include Diddy, Missy Elliot, Lupe Fiasco and more.