Universal CEO Doug Morris recently called YouTube and Myspace copyright infringers. Warner Music on the other hand wasted no time striking a deal with the media giant YouTube. Â

YouTube, which hosts more than 100 million videos viewed every day, and Warner Music, said that the deal would help Warner distribute music videos, behind-the-scenes footage, artist interviews and original programming.
WMG will have the opportunity to authorize the use of its content by the YouTube community. YouTube and WMG will share revenue from advertising on both WMG music videos and user uploaded videos that incorporate audio and audiovisual works from WMG’s catalog.

Partnering with Warner Music Group is one of the most significant milestones for our company and our community, and shifts the paradigm in this new media movement,” said Chad Hurley, CEO and Co-Founder of YouTube. “By providing a new distribution opportunity, we are paving the way for media companies to harness the vast financial potential of user-generated content on YouTube. We are thrilled that WMG had the vision to be the first music company, in partnership with its artists, to support the use of their content within user videos and to allow our community to interact with WMG music in new creative ways.”

Edgar Bronfman, Jr., Chairman and CEO of Warner Music Group, said, “Technology is changing entertainment, and Warner Music is embracing that innovation. Consumer-empowering destinations like YouTube have created a two-way dialogue that will transform entertainment and media forever. As user-generated content becomes more prevalent, this kind of partnership will allow music fans to celebrate the music of their favorite artists, enable artists to reach consumers in new ways, and ensure that copyright holders and artists are fairly compensated.”

(Reuters)