In an agreement with the US National Music Publishers’ Association (NMPA), Youtube will distribute million of dollars in unsigned music royalties in the US.
The transaction refers to music that has been published by the unknown publishers from August 2012 to December 2015.
Publishers will be entertained by an interface through which they can claim their ownership.
After this process, the remaining royalties will be distributed among them.
The company has not confirmed the total amount that is to be paid to the publishers but according to the New York Times, the estimated amount is more than $40 million.
The company will open opt-in period from Monday, 12 December to 28 February 2017.
Publishers will have 3 months to make claim. The process will be repeated in the coming 3 years in order to complete the pending royalties.
NMPA founder and chief executive David Israelite said in a statement:
“It is essential that we work with digital services like YouTube… to fix the challenge of incomplete ownership information to ensure royalties are no longer unmatched and music owners are paid accurately by the platforms that rely on their work,”
Youtube’s Chief Business officer Robert Kyncl said in a blog post that this Google-owned platform has paid $1 billion to artists this year.
However, International Federation of the Phonographic Industry (IFPI) stated that this amount is not enough.
According to Music Industry:
“With 800 million music users worldwide, YouTube is generating revenues of just over $1 per user for the entire year. This pales in comparison to the revenue generated by other services, ranging from Apple to Deezer to Spotify. For example, in 2015 Spotify alone paid record labels some $2bn, equivalent to an estimated $18 per user.”
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