Google's YouTube has signed
a milestone partnership with EMI music group allowing users of the popular social video site to watch videos and recordings from the label's artists, as well as use portions of the video in their own content.
"Working with YouTube under this agreement meets EMI's objectives to offer consumers the best possible entertainment experiences, to create new ways to connect our artists to fans and to enter into innovative business models that will generate revenues for our business and our creators," said Nicoli.
Last year, major music groups including Warner Music Group, Sony BMG Music Entertainment and Universal Music Group negotiated distribution deals with YouTube. Now with EMIís licensing pact, all four of the world's major music companies are now official YouTube partners.
Financial terms of the deal were not disclosed, however according to EMI Group CEO Eric Nicoli "EMI Music and its artists will be fairly compensated for their work," by identifying when their music is being used, and earn revenues from it, presumably from advertising.