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YouTube in deal with Warner Music

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MUMBAI: In a boost for video sharing site youtube music videos from artists like Madonna, Red Hot Chili Peppers and Sean Paul will be legally available on the site.

It has signed a deal with Warner Music Group.

Media reports state that Youtube wil share ad revenue with Warner. A report in The Wall Street Journal further states that YouTube is developing software that automatically identifies copyrighted music and video content uploaded to the site, reported in its online edition. A portion of the revenue from ads placed near the copyrighted material will go to the owner of the copyright. 100 million videos are viewed daily on youtube.

YouTube co-founder and CEO Chad Hurley.has ben quoted saying that in the future it would explore options for sharing online ad revenue with smaller and amateur creators of videos. "But right now we are building tools for record labels, TV networks and movie studios."

Interestingly this announcement of the tie up comes at a time when the world's largest record company, Universal says that it will go after social sites like Youtube and MySpace for infringing copyright. Universal Music CEO Doug Morris has been quoted in reports saying that he believes that sites like youtube owe firms like Universal tens of millions of dollars.

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