YouTube, Music Labels: Stop Crying Over Spilt Milk
Amazing! I have been watching the spat between Google’s YouTube and Warner Music Group play out in the media - both online and its offline variants. The bottom line of this corporate he said she said is that there are no more music videos that feature Warner artists such as Madonna. And a lot of it is two parties crying over spilled milk.
Warner complains it doesn’t any money from Google, even though videos are extremely popular on YouTube and are major drivers of traffic. According to The New York Times, Warner made $639 million in digital revenues for fiscal year 2008 and of which less than 1 percent (or less than $6.39 million) came from YouTube $6.39 million. Another music labels might soon follow Warner’s suit and try and renegotiate with YouTube or opt out all together.
